The Bulloch County Commissioners voted to finalize a 15-year tax abatement for a manufacturer coming to Bulloch County as part of the Hyundai Meta Plant.
EcoPlastic America Corp, a Korean based company, announced its intention to come to Bulloch County in January of this year, proclaiming its new facility will offer 456 jobs to the community. The facility, located at 4822 Highway 301 South, is supposedly a $205 million project. The company is a supplier to Hyundai and Kia. According to Area Development, the company currently employs more than 770 employees and recorded sales revenue of more than $700 million in 2021.
Tuesday morning, Commissioners voted on a tax abatement of 100% for ten years and a 50% abatement for five years after that. The Bulloch County Development Authority also agreed to the following for the project:
- provide a $2.28 million discount on the $4.312 million property
- BCDA is slated to apply for a $1.6 million grant from the ONEGeorgia Edge Grant program.
- $30,000 for training for future Ecoplastic America Corp employees, but training must take place at Ogeechee Technical College
- Provide a temporary office for Ecoplastics America Corp for a cost up to $15,000 if the company requests it
Prior to the company taking on the property, the Development Authority also conducted a $56,565 wetlands delineation study.
It should be noted that the company is not expected to have all 456 until years 8-15 in Bulloch County. Year one through seven are scaled for a gradual increase from 80 employees to 435.
From the meeting agenda:
The Development Authority has entered into an MOU with Ecoplastic America Corp. for the location of a project in Bulloch County. The project is a manufacturing facility for the manufacture of automotive exterior and interior parts including bumpers, garnishes, consoles and trims for electric vehicles. The Development Authority and Ecoplastic America Corp. are the parties to the MOU, but the Board of Commissioners and Board of Tax Assessors have been requested to acknowledge the MOU and agree to applicable provisions.
As an inducement for location of the project in Bulloch County, the MOU includes a 100% abatement of County ad valorem taxes for 10 years and a 50% abatement for an additional 5 years. The tax abatement does not include school taxes or taxes for the County’s fire district.
County attorney Jeff Akins told commissioners the MOU is similar to what has been offered to other manufacturers recently.
“We are honored to welcome Ecoplastic to Bulloch County. We are pleased that this important Hyundai supplier has chosen our community, and we’re confident that our location, workforce, and quality of life will help them succeed here.”
Billy Allen, Bulloch County Development Authority Chair
Approval by staff was recommended and commissioners approved the abatement unanimously with no discussion.
The 43-page Memorandum of Understanding is below.
