NEWTON COUNTY – The Joint Development Authority of Jasper, Morgan, Newton and Walton Counties received court approval for its bond agreement for the Rivian project at Stanton Springs Wednesday.
Following the Georgia Supreme Court’s decision to decline hearing an appeal brought by local homeowners opposed to the project, Judge Brenda Trammel, who had rejected the bond agreement last year due to what she perceived as a failure to present Rivian as an economic benefit to the area, validated the bond agreement, allowing it to move forward for the construction of the electric vehicle manufacturer.
Trammel’s validation is effective immediately and no hearing or additional court action is required regarding the bonds.
The Georgia Department of Economic Development, in conjunction with the JDA, issued a statement following the court order commemorating the occasion.
“An order validating the bonds is a victory for the State of Georgia and people of Jasper, Morgan, Newton, and Walton counties,” the statement read. “We are grateful for Judge Trammell’s quick entry of an order validating the bonds for this great project. We also thank the Georgia Court of Appeals for its prompt review and decision concluding what we have known from the outset thanks to the research and vetting process: the Rivian project is sound, reasonable, and feasible and will provide enormous benefit to the community for decades to come.”
The Rivian project has been in the works for some time, with site development on the 2,000 megasite beginning in 2022, and officials said with 90 percent of the grading done already, the project remains on schedule to open the new plant to build electric trucks by 2026.
The project is estimated to create 7,500 jobs, making it the second largest economic development project in Georgia history, behind only the $5.5 billion Hyundai EV plant under construction west of Savannah.
Under the validated bond agreement, Rivian will not pay property taxes but will make Payments in Lieu of Taxes (PILOTs) and pay personal taxes on machinery and equipment. However, the annual PILOTs will be reduced by the amount of personal property taxes paid.
State and JDA officials said the project will be a boon to the state and region alike, creating jobs, improving infrastructure and ensuring Georgia continues to a major destination for industry and businesses looking to grow and expand.
“With this obstacle behind us, Georgians can look forward to $5 billion of investment and 7,500 good-paying jobs that this innovative, American manufacturing company will bring to our state and the local community,” the statement concluded.
