Quick Poll

Do you think the City of Newnan should have waited until at least mid-month to begin hanging its Christmas decorations in downtown rather than the first week in November?

Blogs

Angela McRae

Tea with friends

Deberah Williams

Everyday Finesse

Lorrie Lynch

Who's News

Published Sunday, October 05, 2008 in Local

Photo by Jeff Bishop

Inches-A-Weigh weight loss center, located in the Publix Shopping Center, recently held its grand opening and ribbon cutting.

All not pessimistic in our economy

By Jeff Bishop

The Times-Herald

While the U.S. economy appears to be on the verge of cardiac arrest -- with a volatile stock market, increasing unemployment and limited access to credit -- there are at least a few reasons to be optimistic when it comes to Coweta County's economy, local officials say.

"We're very fortunate, in a lot of ways," said Coweta County Development Authority Bill Harrison. "We are opening up new industrial sites and land all along the Interstate, for example."

One of those developments, Coweta Industrial Park, just west of the junction of Sharpsburg-McCollum Road and I-85, will be home to the code-named "Project Surge," a "high-tech facility" which should bring in "100 to 150 high-paying jobs," said Harrison.

"They are closing facilities in two other states, so we are obliged to maintain confidentiality on this project for as long as possible," said Harrison.

The projected opening of Project Surge is "the first quarter of next year," he said. "Construction is proceeding rapidly."

A U.S. Department of Agriculture dog training facility is also under construction at Creekside, a development off Bullsboro Drive, just east of I-85. While this project won't result in as many jobs, it is expected to give a boost to local tourism, Harrison said.

The first Chinese investment in Georgia -- soy sauce plant, Kingwasong, located on Dart Road -- is also expected to begin production soon.

"I think it will be May before they go into operation," he said. The original date given for the probable commencement of operations was September 2008.

"It's been slow, because there have been a few obstacles, a few hiccups along the way," Harrison said. "But by May, they should be manufacturing product."

Meanwhile, a second code-named industrial prospect, "Project Care," is also keenly interested in Coweta County.

"The Project Care team had a very positive visit here last week and we remain optimistic that our site will be a top choice for them," said Harrison.

"There have been lots of questions back and forth, which means they're in a buying mode, which is a good sign," he said.

There are also other projects -- "some small, some large" -- that have expressed an interest in Coweta, he said.

"One or two don't even have code names yet," he said. "But we're encouraged to have some prospect activity when many areas of the state aren't seeing any prospect activity at all.

"Several areas of the state don't get near the activity we get," agreed Mike Barber, chairman of the Coweta County Development Authority.

Many of those communities would love to have Coweta's key advantages, with proximity to Interstate 85, railway lines, and Hartsfield-Jackson International Airport, he said.

"It is indeed encouraging to continue to have a steady flow of prospect activity in what could be considered difficult times," Harrison said.

He said new industrial sites are coming on-line in places like Grantville that should increase prospect interest and activity.

"If you take I-85 and get off the exit at Grantville, and look directly across the road at the stop sign, you're looking right at the property," he said. A second Grantville tract is for sale by a different group and has a "wonderful master plan," Harrison said.

Weyman Jenkins, Grantville city manager, said the Grantville projects are "getting ready to roll."

Grantville is "very fortunate" to have areas suitable for industrial development, he said -- especially since it has close proximity to the Kia automobile manufacturing facility in West Point, Ga. Grantville hopes to snag a supplier, or at least capture some type of ancillary activity.

Harrison said the "mega-site" near Moreland -- also called the Bridgeport property -- will ultimately result in industrial development as well, due to its size, location, and proximity to rail lines.

"We still see a lot of interest in that property," Harrison said. "It's going to be a huge asset for us."

He said that Coweta County is still "at the center of the bullseye for all types of development" opportunities, with "easy access to the airport and with the infrastructure beginning to catch up."

Coweta County is "in the right place, at the right time," he said. "So in many ways, we're very fortunate."

Jenkins said one thing holding back industrial growth is sewer development, but it's a "chicken and egg" problem that isn't easily resolved, he said, because the up-front costs are so high.

He predicted that rail access is going to become more and more of a key factor as fuel prices continue to escalate.

"I think rail access will be more and more in demand," Jenkins said.

That's one reason the Carrollton Highway (Hwy. 16 West) will prove to be a development draw in the coming years, Development Authority board member Jim McGuffey said.

"I think the Carrollton Highway will become more and more attractive," he said.

Growth should come to Senoia, as well, Harrison said, due to Riverwood Studios and the innovative development being done there.

"With all of its assets, Senoia really has some excellent opportunities," Harrison said.

Development Authority member David Brown said that the Ritchie Brothers auction off I-85 north of Newnan is another unheralded asset to the community.

"I think a lot of people probably don't realize just how big it is," he said. "They draw in machinery from all over the country."

If a piece of equipment brings in $200,000 at auction, that's going to result in "seven percent sales taxes, or $14,000," he said, with a big chunk of it going to fill county coffers.

"That's better than a gold mine, because you have to work a gold mine," he said. "With this, the county just drives up a truck and they throw in the money... I'd like to see how much sales tax they are brining in, at almost no cost."

"And they are a class act," said Steve Stripling, development authority member and president and CEO of Bank of Coweta.

Harrison pointed out that people who go to the auction probably have to fill up their tanks at local gas stations, and sometimes they even fly in through the local airport. The local economic engine works because of such synergies, he said.

And that engine continues to hum along, in spite of national economic difficulties. For instance, although local foreclosures are at an all-time high -- including commercial foreclosures like Fischer Crossings and Thomas Grace shopping center -- the walls are now up on the new $12.5 million, 120,000-square-foot Belk department store at the Ashley Park lifestyle center, located at Interstate 85 and Georgia Highway 34.

The new Belk store will replace the existing 71,000-square-foot Belk store at Newnan Crossing East center in Newnan and is scheduled to open sometime next year. Men's Wearhouse, Rooms to Go and Rooms to Go Kids, and a Bonefish Grill restaurant are also coming to the Ashley Park/Newnan Crossing West shopping area, and a new "Mathnasium" learning center recently opened.

There are also Food Lion grocery stores in various stages of construction in Sargent, Grantville, and on U.S. 29 N. at the Newnan bypass. A CVS pharmacy also has been announced for the intersection at U.S. 29 and the bypass.

The new Piedmont Newnan Hospital is under development on Poplar Road east of I-85 and is already drawing new medical developments and new medical technology to the county.

And, in spite of the housing downturn, new housing is still being developed in Coweta County -- albeit at a much slower pace.

Of course, although it often goes overlooked, an economic downturn also offers opportunities to consumers. The housing market now favors buyers -- if they can qualify for a loan, which is becoming more difficult by the day.

The downturn in the automotive industry means that cars and trucks are cheaper and easier to get. But, again, financing is the tricky part.

And if you've ever thought about getting into the stock market, some would say that there's no better time than the present. Although the stock market may not have reached its "floor" yet, those who still have 15 to 20 years until retirement might consider getting in, anyway, since there is such potential for growth, long-term.

It's been said many times, but to every cloud, there's a silver lining.

Comment On This Story

Times-Herald.com does not necessarily agree with the comments posted below. Responsibility of comments rests solely with the writer. Comments posted in ALL CAPS will be deleted.

Submission of a comment does not guarantee publication. Comments will be posted by a moderator after being scanned for abusive language, relevance, etc. See our Comments FAQ for more details.