COWETA COUNTY, Ga. — A Norwegian battery maker is poised to set up shop in Coweta County, announcing plans on Friday for a plant that is expected to bring with it 720 jobs and $2.6 billion in investment by the end of the decade.
Freyr, the company, said Friday it would be establishing a "gigafactory" in the metro Atlanta county. The term generally refers to battery-making facilities.
The company said the project would begin with an initial investment of $1.7 billion to establish a facility in Coweta County that will feature an "initial battery cell production module."
The company said it has already purchased 368 acres of land for the project at the Bridgeport Industrial Park in the Newnan area.
"FREYR plans to undertake detailed plant engineering in the coming months, during which plans for the initial Gigafactory module will be finalized," the company said in a release.
Freyr added that the state of Georgia and Coweta County are "collectively providing strong financial incentives for the Giga America project," without detailing what the incentive package might include, and that it would be applying for additional federal funds, grants and loans with the U.S. Department of Energy.
The company also explained its interest generally in the U.S. market: "FREYR is accelerating its previously planned U.S. expansion based on strong tailwinds in U.S. renewable energy development, an intensifying focus on grid stability initiatives, and the recently announced tax incentives associated with the Inflation Reduction Act."
In a statement, Gov. Brian Kemp said, "Job creators and innovators from all over the world bring their operations to Georgia because they know they will have success here. We're proud to welcome FREYR to the Peach State as the latest company to bring transformational investments and opportunity to our communities. They will be a valued addition to our No. 1 state for business, and I look forward to their growing impact on Coweta and the surrounding region."
Coweta County Board of Commissioners Chairman Bob Blackburn added that the county was "thrilled" by Freyr's announcement and that, "With the addition of FREYR, Coweta County is quickly becoming a premier destination for top-tier manufacturing industries that support the U.S. economy and beyond. We look forward to the innovation, opportunities, and success that FREYR will generate.”