Jered LLC Announces Plans for $45 Million Facility

The ceremony was attended by key figures from both organizations alongside community leaders and local business representatives. The atmosphere was buoyant, reflecting the positive impact this expansion is anticipated to have on the local economy.

“Every new storefront, every local enterprise, is a testament to our collective commitment to economic resilience and prosperity. Together, we are not just building businesses, but also forging a stronger, more vibrant community for generations to come.”, Ryan Moore, CEO & President, GIDA.

The partnership between GIDA and Jered, Inc. has been a cornerstone of this expansion. GIDA has agreed to issue one or more tax-exempt or taxable revenue bonds to finance Jered’s 100,000 sq/ft expansion in an aggregate principal amount to be determined but anticipated to be in the amount of the total expansion cost, which is currently estimated to be approximately $45,000,000. This investment will be repaid to the County through a Payment in Lieu of Taxes (PILOT), an amount equal to the applicable percentage of Jered’s ad valorem taxes.

“Brunswick has a long history of partnership with the Navy and the Jered team is excited to enter the next chapter. Our location at Shipyard Drive has served us well in the past 30 years, but the additional capacity provided by a single, modernized facility will allow us to meet the US Navy’s increasing demands for our mission-enabling systems.”, Richard Prescott, Jered.

With this Ceremonial Signing, GIDA and Jered, Inc. have set the stage for a new chapter of growth and success. The community eagerly anticipates the positive changes and opportunities that this expansion will bring. “We are delighted to witness Jered’s ongoing expansion in Glynn County. This is a great example of the positive environment for business investment and its continued strength in our area.”, Wayne Neal, Glynn County Commission Chairman.