Starbucks Awarded $130 Million Bond Issue to Expand Augusta, Georgia, Coffee Plant
This week the agency signed-off on a $130 million industrial revenue bond issue to fund Starbucks’ 140,000 square foot plant expansion at Augusta Corporate Park in Richmond County. Expansion of $130 million project at Augusta’s Starbucks Augusta plant is already underway.
The bonds, which obligate the borrower not the county or its taxpayers, are primarily used as economic development incentives to attract new companies and entice existing ones to expand, the Economic Development Agency said.
Expansion, on the north side of the 180,000-square-foot facility that currently employs 180 people, is expected to create 100 new jobs. It will enable the instant beverage plant to produce bulk whole-bean and ground coffee for Starbucks stores, as well as 16- and 20-ounce packages for grocery stores.
“The expansion will allow the plant to expand our production beyond soluble coffee, adding 6 new roasters for whole bean coffee,” said Tim Filipowski, Director of the Starbucks Augusta Soluble Plant said this summer.
“It’s also an opportunity for us to increase our contribution to the Augusta community, including many of the Veterans who work in our plant and contribute to the area. The Augusta community welcomed Starbucks with open arms and we are excited to expand the plant and invest in Augusta,” he added.
“When the Augusta Economic Development Authority recruited Starbucks to Augusta a few years ago, we set aside enough land in the Augusta Corporate Park for a future expansion,” said Augusta Economic Development Authority Executive Director Walt Sprouse this summer. “Starbucks knows, first-hand, about the quality of the workforce in Augusta, and that played a big part in today’s announcement. We were honored to work with all the Starbucks officials to make this expansion a reality,” he added.
“As Georgia grows its reputation as the gateway to the Southeastern market, companies like Starbucks continue to strategically locate and expand operations here.” said Governor Nathan Deal. “This decision to expand in Augusta reflects Georgia’s ability to retain dynamic companies and support industry leaders in long-term growth. With this facility expansion, Starbucks will continue to enjoy the benefits of manufacturing in the top state for business, while creating new jobs in the Augusta area, including additional opportunities for veterans. We value our continued relationship with Starbucks and look forward to the company’s continued success in Georgia.”
Starbucks opened its Augusta plant in 2012, making it the company’s fifth manufacturing facility in the U.S. and the company’s first owned and operated facility in the world to produce soluble products.
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