Enchem, a South Korean company, will build two plants in Jackson County, investing more than $60 million and creating more than 300 jobs.
The company is expected to buy the former SE Toyota Distributors plant that is just outside Commerce, John Scott, economic director for Jackson County, said.
Enchem is the first supplier for the SK Battery America plant to announce in Jackson County.
The company develops and manufactures electrolytes for rechargeable batteries and electrostatic double-layer capacitors.
Enchem has developed multiple new electrolytes and additives to improve and extend battery life.
The transition from small mobile technology rechargeable batteries to mid- and large-size hybrid and electric vehicle batteries and energy storage system batteries has increased electrolyte consumption and customer requests, prompting the creation of two new plants, a press release from the state economic development office says.
The state and county have been working with Enchem for several months. The Jackson County IDA held a closed session in September to discuss the project and another one Jan. 17.
Scott said the county IDA likely will agree to a five-year tax abatement for the firm, move that will save Enchem about $375,000.
The abatement program could include a five-year tax abatement on real property and personal property and equipment; property taxes reduced by 50 percent for the duration of the incentive; real estate property taxes in year 1 are taxed at 25 percent and increase to 100 percent by the end of the incentive (a 15 percent annual increase); and fixed payments once the final capital investment estimates are received.
The tax abatement would not include school or fire taxes, or property already on tax books.
Yoonie Kim, Korean investment director for the Georgia Department of Economic Development, represented the department’s global commerce division on this project.
SK Innovation announced its Commerce electric battery plant near the end of 2018 and is building its first phase. It is a $1.67 billion investment.
“The market for electric vehicles and batteries is rapidly increasing, and it’s great to see the industry finding its own hub in Northeast Georgia,” Brian Kemp, Georgia governor, said in the release.