What a way to start a week...wake up late, run around like mad trying to get myself and my family dressed and ready for school, only to realize after running 15 minutes late that the baby's bag was forgotten! Now tell me, how are you supposed to get past this? Well, the way I see it, I can do two things:
1) Let it continue to get under my skin and make everyone around me miserable, or,
2) take a few minutes shake it off, say a prayer, and get on with the day.
Once we realize that some days are just gonna' be more productive than others that's when we can really be productive. Sometimes I think God either makes or lets circumstances happen to make us slow down, I mean if everyday was great and productive how would we ever learn to appreciate one productive day from the next? The days that seem terrible and most unproductive are the very days that make us appreciate the ones that go our way.
If we were really honest with ourselves wouldn't you agree, that more times than not, WE are the reason our day does not go the way we want it too. Either we have not prepared enough (maybe not at all) or we are in one of those moods that says...I'm just not gonna' be the one to give today. There are countless reasons, however, I truly believe that if we just take a few minutes put things in perspective, and say a little prayer then we can change the course and the entire flavor of the day.
Monday, October 26, 2009
Monday, October 19, 2009
Ashantilly Cottages- The Leisure Cottage
Folks these are photos of the Leisure Cottage at Ashantilly Cottages, Darien Georgia. The Leisure Cottage is for use by residents as well as for hosting events such as weddings, wedding receptions, birthday parties, and other social events.
The large open Gathering Room looks out onto the expansive front porch and Ashantilly Lake. The full kitchen comes with a serving bar and Butler's pantry. Completing the Leisure Cottage are restroom facilities and fitness center. Since every inch of this building was hand built there are details everywhere...from patterns in the wood floor in the kitchen and front porch...to the hand build serving bar with bookshelf. It is amazing to see that true craftsmen are still around these days when cookie cutter houses have been such the craze. Come see the new building standard Ashantilly Cottages is presenting!
Friday, October 16, 2009
Congratulations Shawn Oliver!
Carter Groups very own Shawn Oliver is abosolutely on fire with real estate...congratulations for your successes! We appreciate all your hard work...way to go!!!
Misty
Misty
Tuesday, October 13, 2009
Policies and Procedures
We, at Carter Group Real Estate, are in the process of updating our Policy and Procedure Manual to reflect the changes we are implementing in our business model. As the Broker for Carter Group Real Estate I am keenly aware of the value this manual has to keep a company moving in the right direction as well as keeping Risk Management under control.
As we are reviewing our Policies and Procedures we have found outdated material and material that does not apply to our business model. This is one of those tasks that rank right up there with a root canal, but, one that has to be done. I encourage each of you, no matter if you are a Broker or an Agent or any other kind of business, to review your Policy and Procedures Manual to make sure it is up to date and reflects the way you run your business. Also, if you have any tips for me I would greatly appreciate them!
As we are reviewing our Policies and Procedures we have found outdated material and material that does not apply to our business model. This is one of those tasks that rank right up there with a root canal, but, one that has to be done. I encourage each of you, no matter if you are a Broker or an Agent or any other kind of business, to review your Policy and Procedures Manual to make sure it is up to date and reflects the way you run your business. Also, if you have any tips for me I would greatly appreciate them!
Monday, October 12, 2009
Carter Group Real Estate
Come by and see us at our Ribbon Cutting tomorrow at 292 Cherry Street in Jesup. We look forward to doing business with you!
Misty Causey, Broker
Carter Group Real Estate
912-399-8686 Mobile
866-770-0775 Toll Free
misty@cartergrouprealestate.com
www.mcausey.blogspot.com
Misty Causey, Broker
Carter Group Real Estate
912-399-8686 Mobile
866-770-0775 Toll Free
misty@cartergrouprealestate.com
www.mcausey.blogspot.com
Tuesday, October 6, 2009
Carter Group Real Estate- A Complete Overhaul On the Business Model
Carter Group Real Estate is revisiting it's business plan and completely overhauling the business model set forth by real estate and insurance companies more than 50 years ago. Since the first real estate/insurance companies were started, few have a business plan and even less have completely redone their business model.
New innovative technologies have changed not only the way people do business but the actual business itself. The consumers of today are different than even 10 years ago much less 50 years ago. We asked ourselves, "Should we continue to do conduct business the old fashioned way and become obsolete or take the time to restructure our business to conform to today's consumer?". Well, the answer was pretty clear we can't make the consumer conform to us we MUST conform to today's consumer.
We are embracing the technologies of today to empower our real estate professionals to run their business as true Independent Contractors. With this new business model we are changing the "rules" so that free trade is expanded which gives the consumer many more options. We would really appreciate your feedback.
Misty Causey- Real Estate Broker
Carter Group Real Estate
912-399-8686
misty@cartergrouprealestate.com
New innovative technologies have changed not only the way people do business but the actual business itself. The consumers of today are different than even 10 years ago much less 50 years ago. We asked ourselves, "Should we continue to do conduct business the old fashioned way and become obsolete or take the time to restructure our business to conform to today's consumer?". Well, the answer was pretty clear we can't make the consumer conform to us we MUST conform to today's consumer.
We are embracing the technologies of today to empower our real estate professionals to run their business as true Independent Contractors. With this new business model we are changing the "rules" so that free trade is expanded which gives the consumer many more options. We would really appreciate your feedback.
Misty Causey- Real Estate Broker
Carter Group Real Estate
912-399-8686
misty@cartergrouprealestate.com
Monday, October 5, 2009
August Pending Home Sales Rise to 2 1/2 Year High
August pending home sales rise to 2 1/2 year high
By ALAN ZIBEL (AP) – 4 days ago
WASHINGTON —
Aspiring homebuyers rushed to take advantage of a tax credit for first-time owners that expires in November, driving up the number of signed sales contracts for the seventh straight month in August.
Construction spending also rose unexpectedly in August on the biggest jump in housing activity in nearly 16 years, another sign the real estate market is recovering from its four-year slump, data Thursday showed.
Sales and homebuilding are being fueled by a tax-credit of up to $8,000, low mortgage rates and cheap foreclosures. In some of the most hard-hit areas, like Phoenix and Las Vegas, there are bidding wars for deeply discounted properties. And in all but a few cities, home prices are slowly starting to rise, reversing their three-year descent.
To make sure first-time buyers can complete their purchases by the Nov. 30 deadline, real estate agents "have been pushing buyers to sign a contract at least a couple months in advance" according to Abiel Reinhart, an economist with JPMorgan Chase.
More than a dozen bills have been introduced in Congress to extend the credit, but it's unclear if lawmakers want to continue to subsidize the market.
The National Association of Realtors said Thursday its index of sales agreements rose 6.4 percent from July to 103.8, beating forecasts. It was the highest since March 2007 and 12 percent above a year ago. Economists surveyed by Thomson Reuters expected the index would rise to 98.6.
Typically there is a one- to two-month lag between a contract and a done deal, so the index is a barometer of future sales. However, new rules for home appraisals and rigid lending standards have scuttled many sales agreements recently. In addition, the index may also double-count some buyers who agree to purchase other homes after the first deal falls through.
These factors have made the index a less reliable gauge for completed sales. Despite a steady increase in the number of signed contracts this summer, for example, completed sales actually took an unexpected 2.7 percent dip in August.
"Perhaps the real question is how many transactions are being delayed in the pipeline, and how many are being canceled," Lawrence Yun, the Realtors' chief economist, said in a statement. "Without historic precedents, it's challenging to assess."
Pending sales were up 16 percent in the West and 8 percent in the Northeast. They were up 3 percent in the Midwest and nearly 1 percent in the South.
Home prices, meanwhile rose 1.2 percent from June to July, according to the Standard & Poor's/Case-Shiller home price index of 20 major cities. On a seasonally adjusted basis, prices rose in all but three metro areas, Las Vegas, Detroit, and Seattle.
Housing experts, however, remain divided on whether the price gains signal a definite bottom to the worst housing downturn in decades or just a brief respite from plummeting prices.
Copyright © 2009 The Associated Press. All rights reserved.
By ALAN ZIBEL (AP) – 4 days ago
WASHINGTON —
Aspiring homebuyers rushed to take advantage of a tax credit for first-time owners that expires in November, driving up the number of signed sales contracts for the seventh straight month in August.
Construction spending also rose unexpectedly in August on the biggest jump in housing activity in nearly 16 years, another sign the real estate market is recovering from its four-year slump, data Thursday showed.
Sales and homebuilding are being fueled by a tax-credit of up to $8,000, low mortgage rates and cheap foreclosures. In some of the most hard-hit areas, like Phoenix and Las Vegas, there are bidding wars for deeply discounted properties. And in all but a few cities, home prices are slowly starting to rise, reversing their three-year descent.
To make sure first-time buyers can complete their purchases by the Nov. 30 deadline, real estate agents "have been pushing buyers to sign a contract at least a couple months in advance" according to Abiel Reinhart, an economist with JPMorgan Chase.
More than a dozen bills have been introduced in Congress to extend the credit, but it's unclear if lawmakers want to continue to subsidize the market.
The National Association of Realtors said Thursday its index of sales agreements rose 6.4 percent from July to 103.8, beating forecasts. It was the highest since March 2007 and 12 percent above a year ago. Economists surveyed by Thomson Reuters expected the index would rise to 98.6.
Typically there is a one- to two-month lag between a contract and a done deal, so the index is a barometer of future sales. However, new rules for home appraisals and rigid lending standards have scuttled many sales agreements recently. In addition, the index may also double-count some buyers who agree to purchase other homes after the first deal falls through.
These factors have made the index a less reliable gauge for completed sales. Despite a steady increase in the number of signed contracts this summer, for example, completed sales actually took an unexpected 2.7 percent dip in August.
"Perhaps the real question is how many transactions are being delayed in the pipeline, and how many are being canceled," Lawrence Yun, the Realtors' chief economist, said in a statement. "Without historic precedents, it's challenging to assess."
Pending sales were up 16 percent in the West and 8 percent in the Northeast. They were up 3 percent in the Midwest and nearly 1 percent in the South.
Home prices, meanwhile rose 1.2 percent from June to July, according to the Standard & Poor's/Case-Shiller home price index of 20 major cities. On a seasonally adjusted basis, prices rose in all but three metro areas, Las Vegas, Detroit, and Seattle.
Housing experts, however, remain divided on whether the price gains signal a definite bottom to the worst housing downturn in decades or just a brief respite from plummeting prices.
Copyright © 2009 The Associated Press. All rights reserved.
Thursday, October 1, 2009
Cash For Your Thoughts??
Hello Friends,
As most of you know I am fairly new at blogging. I want input from you on what content you want to read about on my blog. I am the Broker for Carter Group Real Estate so real estate is my field of expertise. Coastal and Southeast Georgia to be exact. However, I stay up to date on national, state, and local happenings. All you have to do is tell me what you want and you will be entered to win your choice of:
1) $25.00 Visa Gift Card
2) $25.00 Bonefish Bar and Grill gift certificate
3) $25.00 Bath and Body Works gift certificate
Please sign in to my guest book and post your comment. The more posts you submit the more chances you have to win. I will leave this open until October 9th at which time I will announce the winner. Thank you in advance for your participation.
Misty
As most of you know I am fairly new at blogging. I want input from you on what content you want to read about on my blog. I am the Broker for Carter Group Real Estate so real estate is my field of expertise. Coastal and Southeast Georgia to be exact. However, I stay up to date on national, state, and local happenings. All you have to do is tell me what you want and you will be entered to win your choice of:
1) $25.00 Visa Gift Card
2) $25.00 Bonefish Bar and Grill gift certificate
3) $25.00 Bath and Body Works gift certificate
Please sign in to my guest book and post your comment. The more posts you submit the more chances you have to win. I will leave this open until October 9th at which time I will announce the winner. Thank you in advance for your participation.
Misty
Monday, September 28, 2009
4440 Collins Loop Odum, GA
This beautiful log home in Odum, Georgia may be toured by clicking on the link below. This home was lovingly built with 3 bedrooms, 3 baths on 5 acres in the heart of Odum, Georgia. There is an additional 20 acres that may be purchased with this home or separately. A personal tour is the only way to truly see and feel the quality of this home. To schedule a tour today please call or email me, my contact information is listed below.
Misty Causey, Broker
Carter Group Real Estate
912-399-8686 Mobile
866-770-0775 Toll Free
245 Promise Lane Brunswick, GA
Caleb's Crossing Townhomes, where livin' is easy...this is the essence of Caleb's Crossing. Everything is taken care of for you so you have time to do the things that are important to you. The community includes a heated pool, pool house, playground, and several lakes and lagoons for your enjoyment. When you live at Caleb's Crossing all you have to do is relax...lawn maintenance, pest control (inside and out including a retreat and repair termite bond), garbage disposal, street lighting, exterior maintenance, EVEN roof replacement is a worry that you no longer have to deal with!
This townhome has a perimeter location and has no neighbors in the back. There are 3 bedrooms, and 2 full baths all on one level living! Upgrades throughout this home make it stand out as an extreme value! Take a virtual tour by clicking the link below then give us a call to set up a time for your private showing.
130 Teak Trail Brunswick, GA
This 5 bedroom 2.5 bathroom may be seen by clicking the link below. The master bed and bath are located on the main living level and are wonderfully appointed with walk in closet in the master bedroom and two separate vanities made from Shirestone, tiled walk in shower, corner jetted bath, and water closet make this bath an oasis. This home comes complete with a fabulous kitchen that has ease of use written all over it...Shirestone counters that are heat resistant up to 1000 degrees are a life saver at large gatherings. The formal dining has beautiful hardwood flooring and spectacular chandelier. The living room has built in above the gas log fireplace for your tv. The half bath, laundry room, and storage area complete the downstairs. The upstairs consists of 4 bedroom and full bath as well as extra storage.
http://www.cartergroupland.com/site/show_home/20
http://www.cartergroupland.com/site/show_home/20
28 Whitetail Trail Brunswick, GA
Click on the link below and take a look at this wonderful 3 bedroom 2 bath lakefront home. Complete with convenient location, oversized 2 car garage, screened back porch, computer room, fabulous master bed and bath, and eat-in kitchen with tiled backsplash.
http://www.cartergroupland.com/site/show_home/5
http://www.cartergroupland.com/site/show_home/5
Do We Deserve What We Earn?
Do we deserve what we earn? This question is in regards to full time REALTOR'S that do their best to excel in their field of expertise and have integrity when it comes to customer service. REALTOR'S and licensed real estate agents are NOT created equally. REALTOR'S adhere to a strict Code of Ethics set forth by the National Association of REALTOR'S, there are many other differences, however, that topic will have to wait for another blog post.
Below you will find a scenario with a basic commission split. After reviewing the scenario and commission split and based on your personal experiences with a REALTOR or licensed real estate agent, please comment on the question "Do we deserve what we earn?".
Scenario- A property listed with ABC Realty sold for $150,000. This property was sold by XYZ Realty. The Exclusive Listing Agreement stated that the total commission would be 6% (this percentage is not set and is negotiable, it is being used for example purposes only). The Exclusive Listing Agreement also states that should another real estate company procure a ready, willing, and able buyer the total commission would then be split between the listing real estate company (ABC Realty) and the selling real estate company (XYZ Realty). In this scenario we will split the total commission equally between the two companies...3% to ABC Realty and 3% to XYZ Realty.
$150,000. Sales Price
x 6% Total Commission
__________________
$9,000. Total Commission (in dollars)
$9,000 Total Commission (in dollars)
x 50% Commission split between the real estate companies
___________________________________________
$4,500 of Total Commission to ABC Realty
$4,500 of Total Commission to XYZ Realty
After the commission is split between the real estate companies the commission continues to be split between each real estate company and the agent involved in the transaction. Each real estate company and agent have different agreements with one another. In our example we will split the commission equally between the real estate company and the agent involved in the transaction.
$4,500. Total Commission to ABC Realty
x 50% Split between real estate company and agent
______________________________________
$2,250. To the real estate company
$2,250. To the real estate agent involved with the transaction
(in our example XYZ Realty has the same commission split with it's agent as ABC Realty does, therefore the above commission breakdown between company and agent would be identical.)
Now that we have an actual dollar amount of $2,250. the agent must subtract a portion of that commission for state and federal taxes, vehicle payments, vehicle insurance, health insurance, errors and omissions insurance, vehicle maintenance, phone and Internet service, MLS board dues, advertising, and gas just to name a few...now the agents time can be taken into consideration...the time it takes to show the property (usually multiple times), writing up the contract, handling negotiations, making phone calls to and taking calls from lenders, attorneys, home inspectors, pest control vendors, appraisers, and surveyors. These are just some of the items that must be deducted from the commission.
In the above scenario I did not break down the company dollar as this post is geared to get your comments, based on your personal experience, of the real estate professional that you dealt with. Please take just a moment and comment yes, you do agree or no, you do not agree...you can make your comment as long or as short as you'd like. We really appreciate your feedback good or bad helps us to better serve our customers.
Thank you,
Below you will find a scenario with a basic commission split. After reviewing the scenario and commission split and based on your personal experiences with a REALTOR or licensed real estate agent, please comment on the question "Do we deserve what we earn?".
Scenario- A property listed with ABC Realty sold for $150,000. This property was sold by XYZ Realty. The Exclusive Listing Agreement stated that the total commission would be 6% (this percentage is not set and is negotiable, it is being used for example purposes only). The Exclusive Listing Agreement also states that should another real estate company procure a ready, willing, and able buyer the total commission would then be split between the listing real estate company (ABC Realty) and the selling real estate company (XYZ Realty). In this scenario we will split the total commission equally between the two companies...3% to ABC Realty and 3% to XYZ Realty.
$150,000. Sales Price
x 6% Total Commission
__________________
$9,000. Total Commission (in dollars)
$9,000 Total Commission (in dollars)
x 50% Commission split between the real estate companies
___________________________________________
$4,500 of Total Commission to ABC Realty
$4,500 of Total Commission to XYZ Realty
After the commission is split between the real estate companies the commission continues to be split between each real estate company and the agent involved in the transaction. Each real estate company and agent have different agreements with one another. In our example we will split the commission equally between the real estate company and the agent involved in the transaction.
$4,500. Total Commission to ABC Realty
x 50% Split between real estate company and agent
______________________________________
$2,250. To the real estate company
$2,250. To the real estate agent involved with the transaction
(in our example XYZ Realty has the same commission split with it's agent as ABC Realty does, therefore the above commission breakdown between company and agent would be identical.)
Now that we have an actual dollar amount of $2,250. the agent must subtract a portion of that commission for state and federal taxes, vehicle payments, vehicle insurance, health insurance, errors and omissions insurance, vehicle maintenance, phone and Internet service, MLS board dues, advertising, and gas just to name a few...now the agents time can be taken into consideration...the time it takes to show the property (usually multiple times), writing up the contract, handling negotiations, making phone calls to and taking calls from lenders, attorneys, home inspectors, pest control vendors, appraisers, and surveyors. These are just some of the items that must be deducted from the commission.
In the above scenario I did not break down the company dollar as this post is geared to get your comments, based on your personal experience, of the real estate professional that you dealt with. Please take just a moment and comment yes, you do agree or no, you do not agree...you can make your comment as long or as short as you'd like. We really appreciate your feedback good or bad helps us to better serve our customers.
Thank you,
Thursday, September 24, 2009
Wayne County Chamber of Commerce
The Wayne County Chamber of Commerce will be having their Fall Kickoff this evening at the monthly Business After Hours. Carter Group Real Estate is proud to be one of four sponsors for this event. BAH will be catered by and held at the Pine Forest Country Club from 6-8PM. This event is a wonderful opportunity to network with other professionals and grow your business.
Wednesday, September 23, 2009
You Tube video tour of 105 Marsh Oak Lane Brunswick, GA
Please click on the link below to view 105 Marsh Oak Lane located in the heart of Marshes of Mackay. This 3 bedroom 2.5 bath home has approximately 2300 heated square feet of easy Southern livin'. Nestled at the end of a Cul-de-Sac surrounded by Live Oaks and lovely traditional landscaping. This home nudges the stress of the day away and wraps a robe of wonderful relaxation all around you...
YouTube - cartergroupre's Channel
YouTube - cartergroupre's Channel
Mitsubishi Announces $325 Million in Georgia Plant
Mitsubishi announces $325 million Ga. plant
By RUSS BYNUM (AP) – 1 day ago
POOLER, Ga. — After sitting vacant for seven years, a 1,500-acre industrial site near Savannah landed its first manufacturer Monday as Mitsubishi Power Systems announced plans to produce giant steam and gas turbines in coastal Georgia.
The company said it will begin construction before the end of the year on a $325 million plant that will employ about 500 workers. The plant will manufacture and service turbines used by power plants to generate electricity.
The state bought the industrial site for $23 million in 2002, as part of an incentive package Georgia used to woo DaimlerChrysler to agree to make cargo vans here. The deal, expected to bring 3,000 jobs, fell through in 2003 because of economic turbulence.
State economic development officials held out for years trying to find a single manufacturer. Finally, they opted to parcel out smaller tracts of the site to different businesses.
During Mitsubishi's announcement at the plant site, covered by tall weeds, Gov. Sonny Perdue acknowledged the state's seven years or corporate courtship in search of a match for the site.
"This state has dated a lot of pretty girls, but it hadn't found the right one yet," Perdue said. "You got one to bring home to momma today."
Mitsubishi Power Systems, which is based in Lake Mary, Fla., will build its plant on 119 acres, leaving about 600 acres open to future development. Roughly half the site is protected wetland.
Koji Hasegawa, the company's president and CEO, said a major draw was the site's location at the intersection of Interstate 95 and I-16, and just a few miles from Savannah's airport and its bustling container port — the nation's fourth largest.
"The availability to us of this portion of the mega site made locating a new facility here a very easy decision," Hasegawa said.
Senior Vice President Dave Walsh said the company plans to begin construction in December and start hiring next year. He said it plans to employ 200 workers within two years. State officials said wages at the Mitsubishi plant will average about $58,000 a year.
The governor's office said Mitsubishi Power Systems, a subsidiary of Mitsubishi Heavy Industries, would receive $30 million in tax credits for locating its plant in Georgia.
The announcement was welcomed in the Savannah area, where unemployment hit 10 percent in July. Hundreds of manufacturing workers have lost jobs in the past year as the sour economy forced layoffs at private-jet maker Gulfstream, Great Dane Trailers and construction equipment maker JCB.
"How many other communities would love to be talking about what's going on with us today?" said Rick Winger, executive director of the Savannah Economic Development Authority.
Mitsubishi plans to start up quickly with temporary facilities that will enable it to begin manufacturing turbine combustor components as early as fall 2010. A second phase will involve construction of a service plant that will repair and upgrade steam and gas turbine parts for utilities such as Georgia Power.
Walsh said the finished plant will produce gas turbines six times larger than a 747 passenger plane's engines, each capable of generating enough electricity to serve 100,000 people. The company didn't estimate when the plant would be completed.
The governor said having a widely known, brand-name company like Mitsubishi moving into the coastal Georgia site should help attract other manufacturers.
"I think it will enjoy the benefits of a cluster effect," Perdue said. "While we did try to market it intact for a while, I think we're better off with more than one tenant here. If you give me 500 jobs on a little over 100 acres, we'll do that every day."
Copyright © 2009 The Associated Press. All rights reserved.
By RUSS BYNUM (AP) – 1 day ago
POOLER, Ga. — After sitting vacant for seven years, a 1,500-acre industrial site near Savannah landed its first manufacturer Monday as Mitsubishi Power Systems announced plans to produce giant steam and gas turbines in coastal Georgia.
The company said it will begin construction before the end of the year on a $325 million plant that will employ about 500 workers. The plant will manufacture and service turbines used by power plants to generate electricity.
The state bought the industrial site for $23 million in 2002, as part of an incentive package Georgia used to woo DaimlerChrysler to agree to make cargo vans here. The deal, expected to bring 3,000 jobs, fell through in 2003 because of economic turbulence.
State economic development officials held out for years trying to find a single manufacturer. Finally, they opted to parcel out smaller tracts of the site to different businesses.
During Mitsubishi's announcement at the plant site, covered by tall weeds, Gov. Sonny Perdue acknowledged the state's seven years or corporate courtship in search of a match for the site.
"This state has dated a lot of pretty girls, but it hadn't found the right one yet," Perdue said. "You got one to bring home to momma today."
Mitsubishi Power Systems, which is based in Lake Mary, Fla., will build its plant on 119 acres, leaving about 600 acres open to future development. Roughly half the site is protected wetland.
Koji Hasegawa, the company's president and CEO, said a major draw was the site's location at the intersection of Interstate 95 and I-16, and just a few miles from Savannah's airport and its bustling container port — the nation's fourth largest.
"The availability to us of this portion of the mega site made locating a new facility here a very easy decision," Hasegawa said.
Senior Vice President Dave Walsh said the company plans to begin construction in December and start hiring next year. He said it plans to employ 200 workers within two years. State officials said wages at the Mitsubishi plant will average about $58,000 a year.
The governor's office said Mitsubishi Power Systems, a subsidiary of Mitsubishi Heavy Industries, would receive $30 million in tax credits for locating its plant in Georgia.
The announcement was welcomed in the Savannah area, where unemployment hit 10 percent in July. Hundreds of manufacturing workers have lost jobs in the past year as the sour economy forced layoffs at private-jet maker Gulfstream, Great Dane Trailers and construction equipment maker JCB.
"How many other communities would love to be talking about what's going on with us today?" said Rick Winger, executive director of the Savannah Economic Development Authority.
Mitsubishi plans to start up quickly with temporary facilities that will enable it to begin manufacturing turbine combustor components as early as fall 2010. A second phase will involve construction of a service plant that will repair and upgrade steam and gas turbine parts for utilities such as Georgia Power.
Walsh said the finished plant will produce gas turbines six times larger than a 747 passenger plane's engines, each capable of generating enough electricity to serve 100,000 people. The company didn't estimate when the plant would be completed.
The governor said having a widely known, brand-name company like Mitsubishi moving into the coastal Georgia site should help attract other manufacturers.
"I think it will enjoy the benefits of a cluster effect," Perdue said. "While we did try to market it intact for a while, I think we're better off with more than one tenant here. If you give me 500 jobs on a little over 100 acres, we'll do that every day."
Copyright © 2009 The Associated Press. All rights reserved.
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