The news was confirmed Friday morning that Caterpillar Inc., named by CNN Money one of the 10 Best Stocks for 2012, is to build a new facility in Oconee and Athens-Clarke counties that will serve as the company's global source for small track-type tractors.
The company plans to break ground next month and production is expected to begin in 2013.
Here's a highlight of some of the numbers associated with the project, according to news releases:
- $200 million - The total anticipated investment in the project.
- $57 million - The expected annual payroll at full employment and build-out.
- $60.1 billion - The amount of sales and revenue Caterpillar racked up in 2011.
- $30 million +- The estimated value of local incentives over the next 20 years. Note: Caterpillar requested abatement begin at 90 percent rather than 100 percent the first year.
- 1,400- The projected amount of employees by 2020 (with average wages competitive or greater than the current local averages.)
- 20-25- Potential number of suppliers to locate in area to support production needs of Caterpillar. This could double job creation to 2,800.
- 20 years- The time frame in which the site will be transferred from the ownership of the counties to the company.
- $39 million - Projected increase in annual retail sales in Oconee and Athens-Clarke establishments.
- $945,000- Estimated amount of additional special-purpose, local-option sales tax (SPLOST) revenue per year.
- 200,000- Number of Caterpillar employees around the world.
- $500 million- Amount the Caterpillar Foundation has contributed around the work since it was founded in 1952.