“We are so glad to finally have the agreement in place for our partners at Syntec,” said Walker County economic development director Larry Brooks. “It took a little time, but the agreement will provide wonderful benefits for the community.”
Earlier in the year, the development authority began working with Syntec Industries to put together a package to incentivize the company to invest about $3 million worth of new equipment, along with the creation of the new jobs, in its LaFayette carpet plant.
The operation will employ 180 workers now that the deal is in place.
“We chose to expand the LaFayette plant because of the wonderful cooperation we have received from the Walker County Development Authority led by commissioner (Bebe) Heiskell,” said chief operations officer Tom Watters. “I would also like to thank senator Jeff Mullis and mayor Neal Florence for their assistance with the project as well.”
The deal cut by the development authority will bring Syntec tax relief over the next five years.
“We are thankful that businesses continue to invest in Walker County,” said commissioner Heiskell. “It is this type of investment that has kept our economy moving in these recent years of recession.”
Numbers from the Georgia Department of Labor show Walker County's unemployment rate recently falling to 6.4 percent, which is one of the lowest rates in the state.
Syntec Industries bought out the former Color Spectrum operation located on Pobasco Street in 2007.
The company is the leading supplier of carpet and other market-specific products to manufacturers in the marine, manufactured housing, multifamily housing and recreational vehicle markets.
“We look forward to a long and prosperous relationship with our friends at Syntec,” Heiskell said.