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Lee County approves $12.9M performance-based incentive package for prospective Project Soul site
Summary
Saga and county staff presented Project Soul, a proposed health-care manufacturing/R&D investment with at least $600M in capital and 335 jobs; the board approved a seven-year performance-based grant equal to 70% of ad valorem taxes paid, subject to meeting investment, job and wage thresholds.
Jimmy Randolph of Saga presented Project Soul as a potential health-care manufacturing, distribution and R&D facility that would invest at least $600 million in Lee County and create at least 335 full-time, benefited jobs with an average annual wage around $71,132. "A project of this magnitude and potential positive impact is highly competitive," Randolph said, summarizing the community and state partners involved in recruitment.
Saga staff recommended a seven-year performance-based grant equal to 70% of ad valorem taxes paid by the company each year; staff estimated the incentive at approximately $12.9 million over seven years if the project meets its targets. Commissioners questioned the use of nondisclosure agreements and asked whether the county and partners had verified utility needs and hazardous-waste handling; Saga and staff said NDAs protect proprietary details during site selection but that utility and waste streams are part of the evaluation.
After a motion to waive the board—s policy about voting on the same night as a public hearing, commissioners voted to approve the resolution authorizing the incentive agreement and to allow staff to insert the company—s name once announced; payment of incentives is contingent on the company meeting investment, job and wage commitments outlined in the contract.
