Georgia Gov. Kemp signs tax exemption, state budget into law at Hyundai EV plant site
- Oops!Something went wrong.Please try again later.
Georgia Gov. Brian Kemp on Friday chose an appropriate location - the future site of the Hyundai Metaplant in Bryan County - to sign into law a sales use tax exemption for projects of regional significance.
The South Korean automaker's electric vehicle and battery manufacturing facility fits that definition. The factory is scheduled to open in late 2024 and expects to employ 8,100 workers.
More: Why did Hyundai Motors pick Bryan County megasite for auto plant? Here's how the deal happened
Kemp was joined for the signing ceremony by Georgia Speaker of the House Jon Burns, an Effingham County native who owns a farm near the site, and Georgia Sen. Ben Watson, a Savannahian whose district includes Bryan County.
In addition to signing the tax exemption extension, Kemp also made law the state's Fiscal Year 2024 budget.
Here is what you need to know about the two measures.
Georgia's state budget tops $32.4 billion
Raises for law enforcement and teachers are at the center of House Bill 19. Teachers will receive a $2,000 raise while law enforcement will see a $6,000 increase.
“We are investing in a pipeline, from the classroom to the boardroom,” said Kemp. “We are putting more money towards education than we’ve ever done before in the states history. This budget makes our community safe too. Earlier this week, we watched our brave law enforcement respond to an incident in our state's capital. This budget ensures we stay competitive in attracting top tier talent for positions of services.”
Sticking with education, Kemp announced the Hope Scholarship will be restored to 100% of tuition for students attending public universities and technical colleges.
“This budget improves the quality and access to education across the board,” said Kemp.
Other key facets of the budget include $52 million for Georgia Pathways to Coverage, the state's Medicaid waiver program. Many lower-income Georgians, including those in the Savannah area, will soon have access to the Medicaid through the initiatives. Individuals who earn less than 100% of the federal poverty level are eligible for the Georgia’s Pathways to Coverage, which grants Medicaid eligibility to Georgians who work, attend school or perform community service at least 80 hours a month.
“We’re also not resting on our laurels when it comes to making Georgia a healthier place to live, work and raise a family,” said Kemp. “We are bringing innovative solutions to our healthcare system, which has always been a top priority of my administration. And our team is hard at work to ensure we successfully launch that program on July 1 of this year.”
Another key aspect of the bill includes hiring an analyst to work alongside the prosecution unit tasked with tackling human trafficking in Georgia.
Extending sales use tax break for regional projects meant to spur investment
Kemp lauded Georgia’s economic prowess and how the state continues to be the No. 1 place to do business. House Bill 408 will entice future organizations to do even more business in Georgia.
Kemp called Hyundai Metaplant America and another battery plant coming to Bartow County “transformational projects” and one of the reasons why House Bill 408 is imperative.
“Most of the communities that had benefited from this tool are located outside the metro Atlanta area,” said Kemp. “I want to thank those in the assembly that helped get that bill over the finish line.”
As he gazed at the magnitude of construction happening at the megasite, Kemp reminded those in attendance that suppliers related to the Hyundai project exceeded financial projections.
“We’ve already announced over 4,500 new jobs in roughly $1.96 billion dollars of investment,” said Kemp. “That [number] is nearly double the original estimate that we have for all site suppliers, all because this great company chose Georgia.”
Latrice Williams is a general assignment reporter covering Bryan and Effingham County. She can be reached at lwilliams6@gannett.com.
This article originally appeared on Savannah Morning News: Georgia Governor Bryan Kemp signing ceremony Hyundai Metaplant Bryan
