LaGrange signs off on property transfer for new Remington site
Published 9:29 am Thursday, August 10, 2023
The City of LaGrange has signed off on an agreement between the LaGrange Development Authority and RemArms LLC (Remington Firearms) for their long-planned manufacturing facility.
The LaGrange Development Authority (LDA) has reached terms with RemArms to sell approximately 43.4 acres near Ridley Lake for the industrial development.
The city funded the purchase of the land many years ago and as part of that agreement, the city has to agree to the terms of the conveyance, said City Attorney Jeff Todd.
Remington Arms announced in November of 2021 that it was moving its manufacturing headquarters to LaGrange and bringing a new advanced manufacturing facility and over 850 jobs to the city. Remington said it planned to invest $100 million in Troup County over a five-year period.
Due to the total investment and job creation of the planned Remington factory, the LDA has agreed to sell the property for $10, though it isn’t just giving it to them with no assurances in return.
Under the agreement, Remington will need to construct an approximately 250,000-square-foot headquarters and manufacturing facility within 39 months of the conveyance of the property in conformity with the memorandum of understanding agreed upon for the project.
If RemArms fails to complete the facility sufficiently to secure a Certificate of Occupancy within 39 months, it will have to pay $55,000 per acre of the property at a total cost of $2,387,000.
The city council unanimously approved the terms of the conveyance of the property to RemArms with a 6-0 vote.