The Atlanta Journal-Constitution
Mass production plant may ceive $144M in incentives
Admares is in the design phase of Wa cross factory.
A Finnish building manufacturer could receive about $144 million in grants, tax breaks and other incentives from state and local governments to build a $750 million mass production facility in South Georgia.
The incentive package offered to Admares was detailed in doc um e nts obtained by The At anta Journal-constitution through the Georgia Open Records Act. The company specializes in mass production of buildings and houses and announced in May that it plans to open its first U.S. manufacturing facility in Waycross, about 240 miles southeast of down- town Atlanta.
On nearly 190 acres in Waycross, Admares plans to build a 2.5 million-square- foot factory — a building the size of the proposed mixed- use redevelopment of North Dekalb Mall. A prior news release said Admares will apply its Scandinavian exper- tise in shipbuilding to the homebuilding sector, man- ufacturing homes at facto- ries and transporting them to neighborhoods.
State and local officials offered multiple tax credits, grants and other incentives to Admares in exchange for its investment and promise to employ 1,418 workers at an average annual salary of $55,960. Admares did not respond to multiple requests for comment.
Ware County ended Octo- ber with a 3.3% unemploy- ment rate, roughly equiva- lent to the statewide rate, according to the U.S. Bureau of Labor Statistics. However, the county’s poverty rate of 24.3% is nearly double the statewide figure, according to U.S. Census data. Ware County’s median household income of $39,419 is also significantly lower than that of Georgia as a whole.
Critics argue states, cit- iesand counties offer incen- tives with a loose hand, shift- ing the burden of paying for growth onto other tax- payers. But proponents say these incentivesareneeded to outcompete other states, generate tax dollars on unde- veloped land and expand employment opportunities, especially in rural corners of the state.
Earlier this year, Georgia lawmakers began a review of more than 50 tax credit pro- grams, ranging from incentives for film to job tax cred- its offered automatically to most large employers to determine if taxpayers get the promised bang from the public largesse.
The largest inducement offered to Admares is an estimated $78.5 million in property tax savings from a 25-year local tax abate- ment. The Waycross and Ware County Development Authority will lease the 189- acre site along U.S. 23 to Admares through a com- plicated real estate transac- tion called a “bond-for-title” transaction, which results in a property tax break for the company.
Admares will qualify for multiple incentive programs baked into Georgia code. These include job tax credits, covering qualified machinery costs, free job training for new workers through Georgia Quick Start and a port tax credit bonus for increasing imports and exports. The Georgia Department of Economic Development offered a discretionary $8 million Regional Economic Business Assistance (REBA) grant, which is used to “close the deal” when multiple states or countries are vying for the same project. According to state documents, Florida and California were competed for the Admares facility.
In June, Admares, the development authority and the state signed both a memorandum of understanding and performance and accountability agreement to finalize the incentive terms. Starting no later than February 2026, Admares will have to hit certain performance metrics — such as employment and private investment — to receive the incentives in full during a four-year performance period.
Reaching 80% of the promised goals is considered compliance, according to the documents.
A spokesperson for the Wa cross and Ware County Development Authority said Admares is in the design phase of its facility, which is expected to open in late 2025.