Jeff Bezos closes on ‘Billionaire Bunker’ mansion for $87 million

A trust controlled by billionaire Jeff Bezos, the founder of Amazon.com, paid $87 million for a waterfront mansion in Indian Creek Village.

The deal for the home in the village known as “Billionaire Bunker” for its many wealthy residents was expected since Bloomberg reported in April that Bezos had the home under contract.

Javier J. Holtz, the former CEO of Marquis Bank, and wife Andria A. Holtz sold the 12,135-square-foot home at 28 Indian Creek Island Road to the Sunshine Trust, with attorney John C. Sumberg as trustee. The trust is tied to Bezos. The price for the off-market deal equated to $7,169 per square foot.

South Florida Business Journal

The 3,000 jobs North Carolina lost out on in 2023

North Carolina missed out on at least $4 billion in capital investment in 2023, money that could have brought more than 3,000 jobs to the state.

The actual total is likely more.

Records released by the North Carolina Department of Commerce show at least five companies were referred to the state by the Economic Development Partnership of North Carolina — prospects that, despite seriously considering the state for job-creating projects, went elsewhere for their expansions and relocations.

Triangle Business Journal

Utility Plastics To Invest $20 Million In New Valdosta Facility, Creating Over 60 Jobs

Valdosta, GA—May 30, 2024—The Valdosta-LowndesCounty Development Authority (VLCDA) announced that Utility Plastics, LLC, will invest approximately $20 million to open a facility in Valdosta, creating more than 60 jobs in Lowndes County. 

Utility Plastics will customize the VLCDA’s 100,000-square-foot speculative building, which was completed in March and is located on 10 acres in the Westside Business Park.

“We are grateful that Utility Plastics decided to expand its operations in Valdosta,” said Brad Folsom, Chairman of the VLCDA Board“Providing available sites, including ready-to-use building space, is a key part of the board’s responsibility. We anticipated the demand and invested in two spec buildings, creating quality jobs for our community.” 

“We are excited to announce Valdosta as the future home of our manufacturing facility, corporate offices, and world headquarters,” said Chris Corbett, CEO of Utility Plastics. “This move will bring competitive wages and comprehensive benefits to employees in the local community.”

Utility Plastics produces heavy-duty underground enclosures for power, water, and communication markets worldwide. As part of its initial startup phase, the company will manufacture an estimated 23 million pounds of plastics annually. 

According to Corbett, AgTech Recycling, LLC, Utility Plastics’ sister company, will provide most of the recycled resin used in the manufacturing process. To further boost the company’s growth, future production will include blown film for the agricultural and food processing industry.

“The bigger win is that we never leave our footprint on the environment,” Corbett said. “We are 100 percent committed to being a great steward to preserving the natural environment and eliminating the need to add to the waste stream in our manufacturing processes.”

Bruce Hayden,CEO of Featherridge, LLC, Utility Plastics’ parent company, said Valdosta was selected after an extensive and competitive search process.

“The development authority put their best efforts into enticing us to expand our company in Valdosta, we appreciate their assistance in helping us finalize our decision,” Hayden said. “Utility Plastics is bringing significant capital investments and jobs, and we desire to be a great support system to Valdosta and the region. Our strategic planning efforts are focused on long-term expansion for Utility Plastics and Featherridge.”

Andrea Schruijer, Executive Director of the VLCDA, said, “Utility Plastics’ decision to expand their manufacturing operation and corporate offices to Valdosta is exciting news for our community and region. This project highlights our dedication to making Valdosta an attractive destination for established businesses seeking new growth opportunities in South Georgia.”

Valdosta City Mayor Scott James Matheson added, “We are thrilled to welcome Utility Plastics to Valdosta. The investment and the job opportunities they are bringing will greatly benefit our community. This is a significant step forward in our efforts to foster economic growth and sustainability in our city. We look forward to a long and prosperous partnership with Utility Plastics and their commitment to environmental stewardship.”

“We are delighted that Utility Plastics has chosen to expand its manufacturing operations here in Lowndes County, Georgia,” said Lowndes County Chairman Bill Slaughter. “The continued creation of quality jobs for our residents is a top priority for local officials, and we wish Utility Plastics much success in Lowndes County.”

Read the original article here. 

For more information, contact:
Andrea Schruijer:  aschruijer@buildlowndes.com
Chris Corbett: chris.corbett@utilityplastics.net
Bruce Hayden: bruce.hayden@utilityplastics.net