A new industrial park slated for is expected to improve Paulding's business recruitment efforts and could attract Fortune 500 and international manufacturers, officials said.
Panattoni Development Company and Paulding County have a on Bill Carruth Parkway into Paulding Commerce Park.
"Paulding is now recruiting business on an international level which requires us to have first class real estate products and development partners with experience in executing high profile projects," said . "Panattoni Development is the most active industrial build-to-suit developer in the United States, the largest in the Atlanta market and has completed projects for some of the most respected companies in the world. They establish instant credibility with our clients and are a tremendous asset to our economic development efforts. Their portfolio is impressive and we are ecstatic to have them as part of our economic development team."
Panattoni has signed agreements with an international manufacturer who is going to be the industrial park's first tenant. The company will locate its North American Headquarters, including a 100,000-square-foot manufacturing and showroom facility, at , Blake Swafford, who heads the county’s Industrial Building Authority, said during the Paulding Business Association's June meeting.
"We were looking for a partner with a proven track record, strong capital abilities and an international platform," Swafford said. "That's exactly what we've gotten with Panattoni."
The property has a unique environment that features a lake and access to the Silver Comet Trail. The Park has a build-out potential of more than 500,000 square feet of investment grade industrial product capable of accommodating several manufacturing firms employing 500 to 1,000 people.
Mike Gray, head of Panattoni's Atlanta operations, said the company "covets" its partnership with Paulding County.
"Paulding is a forward thinking community with strong leadership, a quality land platform and a clear vision," Gray said. "We believe in Paulding County and are thrilled to have the opportunity to serve its citizens in this effort."
Paulding County Commission Chairman David Austin said that the partnership is a milestone and that the county has made remarkable progress in economic development in the last year.
"There was a lot of groundwork needed to get us to the point where we could successfully go out and recruit Fortune 500 and high profile international firms to Paulding," Austin said. "Real estate product and incentives were two key components we lacked. We have gotten the incentives through our new opportunity zone and by applying an aggressive property tax abatement strategy for projects. Now we are getting the real estate product needed and Panattoni Development will be a tremendous asset to that effort."