Tuesday, August 24, 2010

Thomaston-Upson IDA Meeting

The Thomaston-Upson Development Authority held it’s August monthly meeting Monday.

Executive Director J.R. Charles reported that a tire recycling company is still interested in Thomaston, but a final decision is not likely soon.

In other activity, Charles was contacted by a project consultant looking for a building to locate a company.

Animal Health and Science continues to work on moving into the Yamaha building, trying to pinpoint its bond issue figures. The bond must be for at least seven million dollars to earn local incentives.

The experimental bio-fuel plant on highway 36 east is still silent but the IDA has been told that Valero Energy of Texas is still negotiating with American Process over certain rights in the manufacturing process. Federal funds on alternative fuels for the plant have been exhausted.

The IDA has indicated the huge investment made in the former Magna Fab building, over $10 million will assure it’s start up again.

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