Georgia-Pacific plans major expansion in downtown Atlanta

Georgia-Pacific, the giant paper and consumer products company, plans to expand its Atlanta corporate hub, adding hundreds of jobs at its namesake downtown Atlanta tower.

At a meeting of Invest Atlanta, the city’s economic development arm, officials said they would likely add 600 jobs downtown over several years. The jobs are expected to pay $100,000 a year on average.

The project will also involve renovations to 133 Peachtree Street, GP’s stair-stepped skyscraper, one of the city’s most prominent.

The company went before Invest Atlanta on Thursday for incentives to aid in the approximately $150 million overhaul of 23 floors of the tower. The city approved a lease-purchase agreement that will impart property tax savings of $7.2 million over 10 years, according to Invest Atlanta documents.

The city will see an increase in annual property tax collections of $1.2 million per year, while Fulton County is projected to see its revenue increase by $1.7 million.

The renovation will create more usable office space within the tower and improve energy efficiency, among other things.

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The Georgia-Pacific tower in downtown Atlanta, left, and 191 Peachtree Street.

More as this develops…

Reader Comments 0

Joe Fincher
Joe Fincher

Great job by Governor Deal & the Republican led Congress for creating a business friendly environment here in bright red Georgia!!!