The Peachtree City Council on April 20 unanimously approved a jobs grant and impact fee waiver for Rinnai Corporation.
The approval for both measures came at the recommendation of city staff.
Rinnai has plans to expand its operation in the city by renovating 25,100 sq. ft. of office space, constructing a 37,560 sq. ft. office building and adding 53 new jobs with an average salary of $78,000, city staff said.
In terms of business retention and recruitment strategies, city staff recommended waiving an estimated $36,000 in impact fees once the expansion project is permitted since the project represents a major capital investment and job opportunity for the city.
Staff also recommended a $26,500 job development grant once Rinnai has added the 53 new jobs within a five-year time frame.
Rinnai currently employs 150 people at its Peachtree City facility.
Rinnai America Corporation, a subsidiary of Rinnai Corporation in Nagoya, Japan, was established in 1974 and is headquartered in Peachtree City. Rinnai manufactures gas appliances including tankless water heaters, a wide range of kitchen appliances and heating and air conditioning units.
Rinnai is the largest gas appliance manufacturer in Japan and is the number-one selling brand of tankless gas water heaters in North America. Annual corporate revenues, including those of its subsidiaries, are in excess of $3.1 billion, according to the company’s website.