A McDonough, Ga.-based logistics company could create about 15 jobs in Augusta after purchasing a warehouse on Doug Barnard Parkway, officials said at a Thursday meeting of the Development Authority of Richmond County.
The authority approved an inducement resolution worth $22.5 million for Bennett International.
The resolution is the first step toward issuing industrial revenue bonds to finance the project. The company would have to complete another request to the authority before it could issue any bonds, Executive Director Walter Sprouse said. That could come before the end of the year, he added.
The 437,000-square-foot building was previously operated by Crl Warehouse and Logistics Co.
The bonds would likely be issued in two parts. The first would be worth $11 million for the facility and $3 million for equipment.
The remaining money would be used if Bennett International purchases another building in the area, which Sprouse said is a possibility. A message to Bennett International was not returned Thursday.
Former car czar to pay $6.2 million to SEC
NEW YORK --- Former Obama car czar Steven Rattner has agreed to pay $6.2 million to settle federal charges over his role in a pay-to-play scandal, but said he won't be "bullied" by New York's attorney general into accepting a harsher penalty in a parallel state case.
The Securities and Exchange Commission announced Thursday that Rattner had accepted the fine and a two year ban from the securities industry to resolve allegations that he paid illegal kickbacks to help his private equity firm land a lucrative investment from a state pension fund.