An Indian textile company is to invest $70 million to build its first U.S. manufacturing plant in south Georgia, creating 250 jobs.
Mumbai-based Shrivallabh Pittie Group‘s new cotton yarn factory is to complement its 13 other global facilities, which are mostly based in the state of Tamil Nadu in southern India, according to the group’s website.
The cotton yarn is to be used in cloth for t-shirts, socks, bed sheets and other items. It will be sold in the U.S. and exported to other markets, said Zulfiqar Ramzan, a U.S.-based spokesman for the group.
The company is to set up shop at the Screven County Industrial Park in Sylvania, Ga., located near the South Carolina border about 60 miles northwest of Savannah. The park is one of many industrial sites certified under the Georgia Ready for Accelerated Development program, which screens sites for appropriate size, infrastructure, acreage, zoning approvals and other attributes. The 60-acre factory complex is to come on line in mid-2015 with a main building encompassing 250,000 square feet, Mr. Ramzan said.
Vinod Pittie, chairman of Shrivallabh Pittie, said it chose Georgia for its strong textile heritage, skilled workforce, available supply of quality cotton fiber and nearby port access.
“We are very excited about this project, which is the biggest single investment in U.S. cotton yarn sector in decades,” Mr. Pittie said in a news release from the office of Georgia Gov. Nathan Deal.
As part of its deal with the state, the company is to benefit from a $500,000 REBA grant administered by the Screven County Development Authority. The Regional Economic Business Assistance grants help with fixed costs related to new investment projects and are one of the state’s most commonly used deal-closing incentives.
Shrivallabh Pittie is not just a textile company. The holding company started as a seller of precious metals in the northwestern Indian state of Rajasthan in 1898 and has diversified into banking, real estate development, retail and jewelry exports.
The Pittie investment is the second big Indian win for south Georgia in recent months. Indian-owned Medient Studios, based in Los Angeles, in August broke ground on a $90 million film and video-game production complex on 1,500 acres in Effingham County.