COVINGTON, Ga. — It took almost 25 years but Newton County has been made whole on its investment in Stanton Springs technology park.
The park that began literally as a dream of a former Newton chairman has paid off after an industrial recruiter gave a $2.6 million check to county commissioners Tuesday night.
Serra Hall, representing the Joint Development Authority (JDA) of Jasper, Morgan, Newton and Walton counties, delivered the funds after being part of a group that recruited the company — only identified as Baymare — to the park.
She said the check was part of the proceeds from the sale of 620 acres to the company, which essentially sold out the park’s available land.
Hall said the funds are intended to “make the county whole” for its original investment in Stanton Springs in 1998.
She said the county would need to collect property taxes from 968 homes valued at $200,000 apiece to equal the single $2.6 million payment from the sale of the land to the company.
Chairman Marcello Banes said the payment showed the “only way you relieve the taxpayers’ burden” is by recruiting industry that helps take some of the burden for funding services off property owners.
Banes is a member of the JDA that approved a $42 billion bond issue and a purchase and sale agreement Feb. 23 for Baymare.
As part of the deal, the JDA agreed to sell the land in the park which covers parts of northeast Newton and three other counties near Social Circle.
Kathy Morgan, the widow of former county chairman Davis Morgan, said her husband came up with the idea for an industrial park shared by four counties in a dream in 1996.
She said Davis Morgan realized some job-producing industry was needed so Newton County’s young residents could find jobs locally. Participation from all four counties, including Newton, was needed to develop and maintain the park, Mrs. Morgan said.
However, Mrs. Morgan also served as county chairman from 2008 to 2012 when a major company finally was recruited to the park after more than a decade.
She said the JDA almost “gave it up” before hiring professionals like Hall to recruit industry like Takeda and Facebook.
Morgan credited Banes and Hall with making the park a success — illustrated by companies that have invested billions in Newton County, she said.
County Manager Lloyd Kerr said the money will be placed in the county’s reserves fund until finance officials know how much tax revenue is available for the 2022 budget.
