Develop Fulton backs Yancey Power Systems project in South Fulton

Develop Fulton approved an inducement letter for a proposed Yancey Power Systems redevelopment in South Fulton, the first step in its two-part approval process. The project could turn a former industrial site into a service and training campus, bringing private investment and new jobs to Fulton County.

Why it matters: - The proposed redevelopment could convert an underused industrial site in South Fulton into a new business campus. - Develop Fulton says the project could bring private investment, job creation and workforce training opportunities to Fulton County. - The plan also signals continued redevelopment pressure along the Fulton Industrial corridor.

What happened: - Develop Fulton’s Board of Directors unanimously approved a letter of inducement for the proposed Yancey Power Systems project at its Oct. 27 meeting. - The inducement letter is the first step in Develop Fulton’s two-step approval process. - The proposed project centers on redeveloping a former industrial site into a facility supporting Yancey Power Systems’ operations. - The site is in South Fulton.

The details: - If completed, the project is expected to represent a significant private investment in Fulton County. - The project is expected to create new employment opportunities for area residents. - City of South Fulton Mayor Carmalitha L. Gumbs said the city wants quality investment that creates opportunities for residents. - Gumbs said the concept would transform a former UPS site into a multi-million-dollar service and training campus supporting hundreds of new jobs and workforce training. - Yancey Bros. Co. was founded in 1914. - Yancey Bros. Co. is the authorized Caterpillar dealer for Georgia. - Yancey Bros. Co. says it is the oldest Caterpillar dealer in the country, with ties to Caterpillar and predecessor companies going back to 1918. - Yancey Power Systems is a division of Yancey Bros. Co. focused on electric power generation equipment and industrial and commercial engines. - Yancey Bros. Co. serves customers across Georgia and employs more than 3,000 people statewide across all divisions.

Between the lines: - Develop Fulton is using an inducement letter to help evaluate a deal before final approval. - The project fits with a broader effort to reuse underutilized properties in Fulton County. - The public support from city and county economic development leaders suggests the proposal has momentum, but the site still needs due diligence and further planning.

What's next: - Project planning and due diligence remain ongoing. - Develop Fulton’s next approval step would come after the evaluation process advances. - The incentive is meant to support the assessment and potential redevelopment of the site. - More details on the project’s final scope, investment size and job totals should emerge as planning continues.