Tax revenues to get boost from $60M plant expansion in PTC
The new oil refinery that’s under construction at Universal Environmental Services in the Peachtree City industrial park represents a $60 million investment on behalf of the company.
In addition to being a very “green” operation, the refinery will cause a significant increase in property value, which in turn will result in additional property taxes being collected by the city and county governments.
“This is a unique time, when you see a large investment like this for a project,” said Matt Forshee, the president and CEO of the Fayette County Development Authority.
Once operational, the new plant will take used motor oil and convert it into a product that can be used in new motor oil, replacing a significant need for new crude oil, said Dr. Juan Fritschy, the president and CEO of Universal Environmental Services.
The process also will produce clean fuel to power the refinery plant and a compound for use by asphalt plants. All contaminants will be trucked off-site for disposal.
What’s even better news is that this could be the tip of the iceberg, as other companies in Fayette County are looking at expansion plans also, Forshee said.
Over the last two to three years, companies have been working to “do more with less,” Forshee said. That meant improving production techniques and employee training among other things, he noted.
But now, companies are having to take a hard look at expansion as a way to handle the continuing demand for products, Forshee said.
UES projects to have plenty of demand for its refined oil product. Already the company re-refines some 30 million gallons of used motor oil each year.
There are some seven trucks covering the metro Atlanta area, visiting quick oil change centers to claim the “dirty” motor oil. And there are four other off-site storage facilities in nearby southeastern states that are fed by other trucks in the UES network.
In addition to receiving used motor oil by the truckload, UES transports it to Peachtree City by rail.
Once the new refinery is operational next spring, it will employ about 22 people on a round-the-clock schedule, seven days a week.
The $60 million project, which is being built by Tiernan and Patrylo construction company from Peachtree City, represents a big investment from UES’ parent company, Avista, Fritschy said.