Fulton Approves Incentive for $220 Million South Fulton Industrial Project

By AI, Created 10:23 AM UTC, May 20, 2026, /AGP/ – Develop Fulton has approved a bond inducement for Project MAPCO, a proposed $220 million industrial development in South Fulton that could add up to 2,000 jobs and about 1.6 million square feet of logistics and manufacturing space. Backers say the project could bring roughly $2.5 billion in economic impact and expand the region’s industrial base.

Why it matters: - Project MAPCO would add major industrial capacity to South Fulton at a time when logistics, warehousing and manufacturing space remains in demand. - The project is expected to create up to 2,000 jobs and generate about $2.5 billion in economic impact. - Develop Fulton’s incentive support could help move a large, minority-led development forward in a market where site costs and infrastructure demands can slow projects.

What happened: - Develop Fulton’s Board of Directors approved a bond inducement resolution supporting Project MAPCO. - The proposed development is a $220 million Class A industrial project in the City of South Fulton. - The project is led by KMT Partners, LLC. - The estimated closing date is Q3 2026. - KMT Partners is described as the country’s first African American-owned commercial and industrial development platform. - Project MAPCO is described as the first industrial development of this size led by a minority-owned commercial real estate platform nationwide.

The details: - Project MAPCO is planned for roughly 160 acres at Old Senoia Road and Spence Road. - The site plan calls for about 1.6 million square feet of modern logistics and light manufacturing space across three buildings. - The development is designed for warehousing, distribution, cold storage and light manufacturing. - The project is expected to target high-credit regional and national tenants. - The development is projected to create up to 2,000 jobs, including 1,500 permanent jobs and 500 construction jobs. - The project is expected to increase annual property tax revenue compared with current levels, with continued growth anticipated during the 10-year incentive period. - Development leaders said the project would reinvest in underutilized land and could spur more industrial growth in the South Fulton submarket. - The incentive supports substantial site-specific and community-driven investments, including off-site infrastructure improvements. - The project will use LEED-certified sustainable construction standards. - The development will participate in the South Fulton Community Improvement District. - The project includes contributions toward future public park improvements. - Environmental protections include vegetated buffers ranging from 150 to 322 yards, which exceed code requirements. - The site’s topography requires extensive grading and engineering. - KMT Partners reduced the building footprint by about 15% by removing nearly 240,000 square feet of leasable space to preserve environmental stream buffers.

Between the lines: - The incentive reflects a public-private push to balance industrial expansion with environmental and community priorities. - The reduced footprint suggests KMT Partners accepted less leasable space to accommodate buffer protections, which is a direct revenue tradeoff. - One anchor tenant is a global company with more than $50 billion in annual revenue that is expanding its existing footprint in Georgia, but tenant details remain confidential under a nondisclosure agreement. - Develop Fulton’s leadership framed the project as part of a broader effort to expand access to large-scale economic development.

What’s next: - Project leaders are moving toward a Q3 2026 closing. - The project still depends on final execution of site work, infrastructure improvements and tenant commitments. - Developers expect MAPCO to strengthen South Fulton’s logistics ecosystem and attract additional industrial investment.

The bottom line: - Project MAPCO combines a rare minority-led industrial platform, major job creation and a large public incentive package in one of Fulton County’s key growth areas.