The Valdosta Lowndes County Industrial Authority will purchase 430 acres on highway 41 between Statenville Highway and Ulmer Avenue to attract manufacturing and logistics companies.
The Authority says for every dollar spent on economic development multiple dollars are returned.
"It takes money to develop the infrastructure and purchase the land and have it in a shovel ready condition," Brad Lofton, Executive Director of the Valdosta-Lowndes Industrial Authority. "But what we've proven time and time again is that economic development is a great return on the tax payer's investment."
Lofton says when businesses decide to develop here, they'll create high paying jobs.
The authority is also looking at four other tracts of land and plans to make more purchases in the next five months.
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