Williams-Sonoma will operate a distribution center from a 1.1-million-square-foot building in the Braselton Commerce Center, thanks in part to tax abatements on the $70 million project.
The Jackson County Industrial Development Authority voted last Friday to begin the process of issuing two sets of bonds for the project. A $58 million bond issue will cover the real property, and a $12 million bond will finance the personal property.
The company has not officially announced its location in Jackson County, but it has advertised a job fair to help the company find some 250 employees.
The financing deal will include a 10-year abatement on all property taxes except school taxes. In the first year, the company will get a 65-percent abatement, and that number will fall by five percent a year for 10 years before being phased out.
“This way, we get more money earlier,” pointed out IDA chairman Scott Martin.
Attorney Daniel Haygood said the company will pay a fixed amount “based on the millage rate as of the day we close.”
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