Troup County, Georgia Leverages Economic Development Tool

/PRNewswire/ -- Troup County voters along with those in LaGrange, West Point and Hogansville, Georgia approved the use of Redevelopment Powers making the entire county "TAD friendly." TAD's, or Tax Allocation Districts, are a form of tax increment financing in the state of Georgia.

"Today's economy is extremely competitive for developers and businesses. Our region is extremely competitive," says Troup County Commission Chair Richard Wolfe. "This economic development tool gives us the ability to create value in our community and to create jobs for our citizens. It's just one more economic development tool our neighbors don't have right now."

Most residents expressed a special interest in attracting new retail to the growing community. "We have to re-imagine retail development as economic development," Wolfe said. The County plans to capitalize on recent economic development success having added over 5,000 jobs. With Kia Motors and several suppliers ramping up production, this West Georgia community is now poised for a new era of growth.

The community is targeting retail and mixed-use developers to attract quality projects. Scott Turk, Governmental Services Manager noted, "Troup County is at a tipping point in its growth and evolution as a regional community. This tool can make all the difference in tipping it to the side of positive growth." Tax increment financing may be used for office, warehouse/distribution, corporate headquarters, retail/commercial, residential, and mixed-use development projects. Georgia has other tax and financing incentives for employers and especially for relocating corporate headquarters.

-----
Community News You Can Use
Click to read MORE news:
www.GeorgiaFrontPage.com
Twitter: @gafrontpage & @TheGATable @HookedonHistory
www.ArtsAcrossGeorgia.com
Twitter: @artsacrossga, @softnblue, @RimbomboAAG
www.FayetteFrontPage.com
Twitter: @FayetteFP

Ford Motor Company Welcomes Action to Provide Emergency Funding to GM and Chrysler

/PRNewswire-FirstCall/ -- Ford Motor Company (NYSE:F) said today that it welcomes action by the Administration to provide emergency funding for General Motors Corp. and Chrysler LLC.

"As we told Congress, Ford is in a different position. We do not face a near-term liquidity issue, and we are not seeking short-term financial assistance from the government," Ford President and CEO Alan Mulally said. "But all of us at Ford appreciate the prudent step the Administration has taken to address the near-term liquidity issues of GM and Chrysler. The U.S. auto industry is highly interdependent, and a failure of one of our competitors would have a ripple effect that could jeopardize millions of jobs and further damage the already weakened U.S. economy."

Ford recently submitted to Congress its comprehensive business plan, which details the company's plan to return to pre-tax Automotive profitability by 2011. In the plan, Ford said the transformation of its North American automotive business will continue to accelerate through aggressive restructuring actions and the introduction of more high-quality, safe and fuel-efficient vehicles -- including a broader range of hybrid-electric vehicles and the introduction of advanced plug-in hybrids and full electric vehicles.

"Ford has a comprehensive transformation plan that will ensure our future viability -- as evidenced by our profitability in the first quarter of 2008," Mulally said. "While we clearly still have much more work to do, I am more convinced than ever that we have the right plan that will create a viable Ford going forward and position us for profitable growth."

Ford is asking for access to a line of credit of up to $9 billion in bridge financing, but reiterated that it hopes to complete its transformation without accessing a government loan.

"For Ford, a line of credit would serve only as a critical backstop or safeguard against worsening conditions, as we drive transformational change in our company," Mulally said.

Ford reiterated that it is continuing aggressive actions to reduce costs and improve Automotive gross cash to fund its product-led transformation plan, despite the continued weakness in the global automotive market and economic environment. Ford said it is more committed than ever to deliver more of the safe, affordable, high-quality, fuel-efficient vehicles that consumers want and value. The company's plans include:

-- Delivering best-in-class or among the best fuel economy with every new vehicle introduced.

-- Investing approximately $14 billion in the U.S. on advanced technologies and products to improve fuel efficiency during the next seven years.

-- Introducing industry-leading, fuel-saving EcoBoost engines on today's vehicles for up to 20 percent better fuel economy and up to 15 percent fewer CO2 emissions versus larger-displacement engines.

-- Bringing to market by 2012 a family of hybrids, plug-in hybrids and battery electric vehicles.

-- Upgrading the Ford, Lincoln, Mercury lineup in North America almost completely by the end of 2010.

-- Bringing six European small vehicles from global B-car and C-car platforms to be built in Ford's North America plants.

-- Retooling three North American truck plants to produce small, fuel efficient vehicles.

-- Building on vehicle quality that is now on par with Honda and Toyota - and that consistently is being recognized by important third-parties like J.D. Power and Associates' Initial Quality Study - driven by Ford's disciplined and standardized processes for every product.

-- Building on vehicle safety leadership - with the most U.S. government 5-star safety ratings of any auto company and recently moving past Honda for the industry's most IIHS "Top Safety Picks" - plus new smart safety features, such as the industry-first MyKey technology that limits top speed and audio volume for teens and the first forward crash-avoidance system for mainstream vehicles.

-- Supporting Ford's products with a lean, flexible global manufacturing system on par with leading Japanese and European facilities.

-----
www.fayettefrontpage.com
Fayette Front Page
www.georgiafrontpage.com
Georgia Front Page