Symrise AG
The Golden Isles Development Authority (GIDA) announced the expansion of Symrise AG at today’s Board of Governors meetings. Symrise intends to invest approximately $18,600,000 in the taxable property during Phase I of their Brunswick facility’s expansion.
Symrise is headquartered in Germany, has more than 100 global locations and customers in 160 countries around the world. Symrise creates and develops fragrance, flavor, natural nutrition, and cosmetic solutions for many of the world’s best-loved brands.
Problem
The production facility for Symrise AG located at Colonel’s Island in Brunswick, GA needed to expand its operation after the demand for their products grew exponentially over the past two years. Symrise owns plants in both Jacksonville and Goose Creek, SC. The Colonel’s Island Plant had to compete for this expansion. The local facility would need to demonstrate community support, and an economically feasible expansion plan to win the opportunity.
Solution
In May of 2020, Golden Isles Development Authority (GIDA) staff was contacted by James Carson, Director of Plant for Symrise’s Colonel Island Site about a possible expansion. To support the expansion and ensure that the growth happened in Brunswick, GIDA worked with the client to identify savings on local taxes through a bond resolution, expedited permitting through Glynn County, and assistance in promoting the project to stakeholders, Symrise’s customers, and the community. Additionally, used reasonable efforts to assist the Company in obtaining any, if any, eligible State incentives.
Results
The Board of Governors approved the incentive package for Symrise AG at their October 5, 2021, meeting. The package included a 10-year tax savings plan and $5,000 for marketing. This supported the project to advance their $18,600,000 expansion investment in Glynn County. This is the first of three potential phases. The expansion will also create at least four new jobs at the facility with an average wage for all employees of $50,000.
