City of Albany featured in the state's largest newspaper - WALB.com, Albany News, Weather, Sports

City of Albany featured in the state's largest newspaper

Posted: Updated:
Crews are working on a new industrial park on Highway 82. Crews are working on a new industrial park on Highway 82.
ALBANY, GA (WALB) -

Crews are working on a new industrial park on Highway 82 that officials with the Albany Dougherty Economic Development Commission hope will attract new industries.  Now, another tool to attract new jobs is getting statewide attention.  

"Right the article has been in the works for a while now, but we're excited about it because it gives us great exposure in a market that's very important to us," said Ted Clem, President, Economic Development Commission.  

The Atlanta Journal Constitution recently featured an article on Albany's recruitment fund that will provide major financial incentives to attract new industries that will create a lot of jobs.  The plan is getting the attention of a lot of developers outside south Georgia.  

"We've definitely seen an increase in the amount of inquiries coming our way," said Clem.

The Albany City Commission set up the job investment fund last year. It already has millions of dollars, and it's growing.  

"Ultimately we could have close to 30 million dollars, the money is coming back from MEAG, on a monthly basis right now we have about 13 million dollars to use out of this fund," said Clem.  

And leaders say they will use that money wisely to attract major projects.  

"There two minimal thresholds, a company must create a hundred new jobs or invest 10 million in capital investment into their facility," said Clem.

EDC President Ted Clem tells WALB this recruitment fund will give Albany an economic jolt.

"Economic development is a very competitive process, there are thousands of communities all over the country who are competing for the same projects, anything we can do to give us a competitive advantage is to our benefit," said Clem.

No money has been given out from the fund yet. The EDC will probably start taking applications next year from companies interested in taking advantage of the incentives.      Albany and Atlanta are currently the only two Georgia cities that have an investment program like this.

Copyright 2013 WALB.  All rights reserved.