The Jackson County Industrial Development Authority plans to apply what remains of $23.75 million worth of state grants for SK Innovation’s electric car battery factory in Commerce to construction expenses for that facility.
The remaining monies are $38,436 from a $5 million OneGeorgia grant originally designated for professional services and site grading and $28,782 from a $18.75-million Regional Economic Business Assistance grant awarded to SK for construction-related expense reimbursements.
Since site-grading contact is complete and no other professional services remain, all remaining funds will be moved toward construction.
The industrial authority voted to allot those funds at its June 12 meeting. This budget amendment for the SK plant — also known as “Project Hercules” — will be submitted to the Georgia Department of Community Affairs for approval.
“This is done so that SK will get the full value of the grants that were awarded to them for Project Hercules,” said John Scott, director of economic development for Jackson County.