The Story

Eagle Railcar Services (“Eagle”) is acquiring and rehabilitating a railcar repair, cleaning, and maintenance facility in Fitzgerald, GA. The failing facility was owned by a competing railcar servicing company and was in jeopardy of failing prior to the acquisition. The facility requires wholesale modernization. If the facility had closed, it would have resulted in the loss of 53 jobs. Eagle’s investment will transform the dilapidated facility into a state-of-the-art railcar servicing center that will retain the current 53 jobs and employ an additional 97 people.

The Financing

• Total project cost: $23,200,000
• MuniStrategies Allocation: $12,500,000 ($8M from other CDEs)

The Impacts

• Economic – The project will sustain and create jobs for a facility that is located in a severely distressed and underserved community that is characterized by a median family income of 44.0% the area median, an unemployment rate of 5.8x the national average, and a poverty rate of 35.1%. Ben Hill County is also a Persistent Poverty County.
• Jobs – The project will create 97 new permanent jobs and will retain 53, with an average hourly wage that 152% of the area’s living wage. These jobs will also have paid holidays and vacation, paid health insurance, paid insurance for dependents, paid life insurance, paid education/training, tuition reimbursement, and retirement contributions. 8 temporary construction jobs will also be created.
• Community – The project is in alignment with the City of Fitzgerald and Ben Hill County’s 2021 Joint Comprehensive Plan, which has a priority to “Enhance and expand existing industry clusters” with railroad spur connections noted as a point of strength to build upon.
• Workforce Development – Eagle provides hands-on training for all new employees and supports employees’ in furthering education and certifications through tuition reimbursement. Eagle’s provides on-site certification program in areas of Environmental, Health & Safety, quality assurance, and shop procedures (incl. equipment operation, welding certifications, etc.).