ALBANY, GA (WALB) - Coats & Clark's distribution facility, devastated by the tornado of January 22, 2017, and operational in Albany since 2009, will be rebuilt after the company agreed to a plan with the Albany-Dougherty Payroll Development Authority (PDA), announced today.
The $14 million agreement includes Realty Income Corporation, owner of the property leased by Coats & Clark for operation of its distribution center, at 601 Holly Drive.
"I'm very proud to solidify Albany and Dougherty County's relationship with Coats & Clark for years to come," said Albany Mayor and PDA member Dorothy Hubbard. "Coats has made significant investments in the community for more than 70 years and is an outstanding corporate citizen."
"Albany's Coats & Clark manufacturing operation is the leading yarn production facility in the world," said ADEDC President Justin Strickland. "Being able to keep their North American distribution center in our community, and in close proximity to their manufacturing facility, is a huge win for both Coats & Clark and Albany-Dougherty County."
The deal secures more than 300 jobs in Albany-Dougherty County.
Coats & Clark has been a major employer in Albany since 1947.