The Develop Fulton Board of Directors unanimously approved a letter of inducement supporting a proposed Yancey Power Systems project in South Fulton during its Oct. 27 meeting. The letter of inducement is the first step of Develop Fulton’s two-step approval process.

The proposed project involves the potential redevelopment of a former industrial site into a facility supporting Yancey Power Systems' operations. If completed, the project is expected to represent a significant private investment in Fulton County and create new employment opportunities for area residents.

“South Fulton is focused on attracting quality investment that creates real opportunities for our residents,” said City of South Fulton Mayor Carmalitha L. Gumbs. “Transforming a former UPS site into a state-of-the-art, multi-million-dollar service and training campus supporting hundreds of new jobs and valuable workforce training is exactly the kind of economic growth we want to see. I strongly support Develop Fulton’s incentive because strategic partnerships like this help us overcome redevelopment challenges, attract outstanding companies like Yancey Bros. Co., and build a stronger economic future for our city.”

Founded in 1914, Yancey Bros. Co. is the authorized Caterpillar dealer for Georgia and proudly holds the distinction of being the oldest Caterpillar dealer in the country, with ties to Caterpillar and its predecessor companies tracing all the way back to 1918. Yancey Power Systems is a division of Yancey Bros. Co. specializing in electric power generation equipment and industrial and commercial engines. Yancey Bros. Co. currently serves customers throughout Georgia and employs more than 3,000 people statewide across all divisions.

“This approval reflects Develop Fulton’s continued commitment to supporting investment, job creation and the redevelopment of underutilized properties throughout Fulton County,” said Kwanza Hall, Chairman of Develop Fulton. “We appreciate Fulton County’s support and partnership throughout this process and are pleased to support a project that reflects the continued revitalization of the Fulton Industrial corridor.”

The incentive is intended to support the evaluation and potential redevelopment of the site. Project planning and due diligence activities remain ongoing.