The outlook for existing industry expansion and new prospect activity in Cedartown and Rockmart is favorable for 2016-2017, according to reports from the Development Authority of Polk County.
This observation comes after the $6 million capital investment recently announced by Cedartown’s Kimoto Tech, Inc. The project will allow the film-coating company to upgrade equipment.
Additionally, 4 existing industries are considering expansion at local facilities plus 3 new prospects are looking at the community – one for the spec building in Cedartown and 2 in Rockmart.
Meanwhile, DAPC board members voted to keep the current operating budget, totaling $282,773 in place for 90 days or until Polk County Commissioners approves their 2016-2017 budget. DAPC’s budget is tied to final numbers approved by the County.
DAPC also voted to reallocate funds in a money market account (closing fund). The $631,564.19 will go for the following: $250,000 for the next speculative building (proposed for Rockmart) and $350,000 will go to fund new or existing projects based on the number of jobs created.
A prospect is currently viewing the spec building located in Cedartown’s North Business Park.
The existing speculative building was officially launched when the Polk County Board of Commissioners voted at its April 2013 meeting to approve the use of $1,300,000 in SPLOST money from the 2008 economic development referendum. The commission also voted to provide financial backing for a loan of up to $800,000 for the construction of the building.
A ribbon cutting ceremony to celebrate completion of the project was held in November 2014. The 100,000 square-foot brick and metal building can be doubled on site or expanded.
Chairman David Williams said in an earlier interview that DAPC is not ready to “break ground” on a new structure in Rockmart but sees benefits in starting the process of site selection to get everyone on the same page.
“We have always had good cooperation from local officials in our efforts to bring new industry that will provide jobs for the people of Polk County,” he said
Steve Miller, Rockmart mayor, has also pointed out the proven track record of Polk’s speculative building program.
“Several local industries have located here due to the existing program,” he said. “In Rockmart, these include Tip Top, Angelica, Miura and Jefferson Southern.”
Miller referenced an event he attended at Miura. “When asked why the company located in Polk County, a corporate official answered ‘a building with an open footprint was available’. This is one of the reasons I support the spec building program,” he said.
During the August DAPC meeting, Rachel Rowell gave a department report. She said existing industry visits continue and quarterly presentations are given to government officials.
Other news includes: Greater West GA JDA held a called meeting recently to accept funds from Carroll EMC and partners to conduct a feasibility study for fiber in the 7-county area, and the BluePrint Polk update continues with a follow-up meeting planned soon.