Macon-Bibb County Industrial Authority awarded new funding for future investments
By the MBCIA Media Team
More than $3 million was presented to the Macon-Bibb County Board of Education and Macon-Bibb County Board of Commissioners by the Macon-Bibb County Industrial Authority during MBCIA’s annual holiday gathering on Dec. 12. The checks presented, valuing $1,607,443 and $ 1,527,672 respectfully, are for the 2022 Payment in Lieu of Taxes (PILOT) program.
The 2022 PILOT payments are the largest since the program began in 2016. The $1,607,443 payment to the Board of Education is a 463% increase and the $1,527,672 payment to the Board of Commissioners is a 519% increase over the inaugural payments. Over the past five years, almost $11 million has been generated.
This year alone, Macon-Bibb County has used the PILOT program to recruit more than $652 million in private investment. That investment has brought with it 660 new jobs and 525 retained jobs.
The PILOT program is a tax incentive designed to restructure the burden for companies interested in relocating or expanding to the Macon-Bibb area. This in turn, lowers the tax burden for the citizens of Macon-Bibb County and increases the quality of life.
“The PILOT program is a recruiting tool used to help entice new industries to Macon-Bibb County,” said Robby Fountain, chairman of the MBCIA Board of Directors. “More than 27% of our tax digest is attributed to industrial revenues. When we bring in new industries or assist existing industries with expanding their operations, our entire community benefits.”
Companies benefiting from the PILOT program often take over undeveloped property that previously brought in little to no tax revenue for the county. In doing so, Macon-Bibb County benefits from a revenue source that otherwise would not exist.
“When we have strong partners and leadership, we can only expect great things from our community, as seen by the $652 million investment in our community,” said Macon-Bibb County Mayor Lester Miller. “The success of MBCIA is not by accident and has taken a lot of collaboration and effort to make 2022 a banner year for economic development.”