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Commission approves 12-month extension of Project Sam option agreement for West Madison County site
Summary
The county approved an extension to an option agreement for Project Sam, a multi-phase battery-materials manufacturing project, keeping the original purchase price and taking additional deposit money to protect the county if the developer withdraws.
Madison County commissioners voted on April 21 to approve a 12-month extension of an option agreement with a prospective battery materials manufacturer identified in the record as Project Sam.
County staff told the commission the extension leaves the original purchase price unchanged: $60,000 per acre for 48.47 acres (about $2.9 million) plus 11.71 acres in a floodplain at $10,000 per acre (about $117,000), for a total near $3.0 million. The developer agreed to put up an additional nonrefundable deposit of $150,000; combined with prior deposits and investments the county would retain several hundred thousand dollars if the buyer declines to complete the purchase.
The county mayor said the project is expected to be a multi-phase manufacturing investment, with phase one estimated at about $220 million and the full buildout over multiple phases “over a billion dollars” and projected to bring high‑tech jobs producing battery anode materials. The buyer was described as an Australian company; county staff noted ongoing nondisclosure constraints in the record.
Commission discussion included clarification that the project would complement another local battery-component facility under construction that makes cathode materials, and staff said this would represent onshoring of a manufacturing step previously located in China or Australia.
The commission first voted to suspend the rules to take up the late-arriving option agreement extension and then voted to approve the extension. Commissioners identified in discussion included Commissioner Lisonbee, who made the motion to approve, and Olivia Abernathy, who seconded. The extension was approved by voice vote and recorded as passing.
