Cottrell will be the first tenant in a new 1,300-acre industrial park that Gainesville has been developing along U.S. 129 south of the city. Gainesville City Manager Bryan Lackey said the city is coordinating development of the park to meet the company’s schedule.
Marie Hodge Gordon, a spokeswoman for the Georgia Department of Economic Development, said the state is not offering any cash grants for the project. Cottrell could claim various tax breaks, including a state income tax credit allowing it to annually deduct $750 per job from Georgia income taxes for five years, as long as workers make at least $28,000 per year.
Publicly held insurer Markel Corp. bought Cottrell for $130 million in 2014.
