Hyundai will invest billions of dollars in an electric vehicle plant in Georgia. | Ernest Ojeh/Unsplash
Hyundai will invest billions of dollars in an electric vehicle plant in Georgia. | Ernest Ojeh/Unsplash
The state of Georgia and the Peach County Development Authority purchased 1,100 acres in Georgia County for nearly $19 million, hoping the acquisition will attract industry to the area, according to FOX 5 Atlanta.
The state is already marketing the land, which is located five miles east of Interstate 75 near Fort Valley. Officials said the fact that the state owns the land will make it more attractive to businesses.
"It boils down to speed to market being a driving factor in a company's decision-making process," Jessica Atwell, a spokesperson for the Georgia Department of Economic Development, told FOX 5 Atlanta. "The more we can do to speed up that timeline, the more likely a company is to choose a site."
Hyundai officials said in May that the company will invest $5.5 billion in an electric vehicle and battery plant in Ellabell, located in Bryan County. The plant is expected to employ 8,100 workers, FOX 5 Atlanta reported.
State and local officials spent $61 million to purchase 2,200 acres in Bryan County last year. They later agreed to add an additional 2,900 acres for the Hyundai plant at a currently undisclosed additional cost.
Peach County is home to Blue Bird Corporation, which employs 1,800 workers at a school bus assembly plant, according to FOX 5 Atlanta.
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