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ATLANTA, Dec. 21, 2006 - The Georgia Department of Economic Development announced today that a longtime Pearson, Ga. business has been rescued from bankruptcy by members of its founder's family, saving 120 jobs for Atkinson County. Cady Bag Company, LLC has invested $5 million to purchase the company back from its previous owners, and will invest another $1 million in machinery to create 50-75 new jobs in the next two years as the new owners streamline its product lines and processes.
The Cady Bag story is a tremendous testament to the community spirit and resourcefulness that abounds in our state, said Craig Lesser, commissioner of the Georgia Department of Economic Development. The family, community, region and state all pulled together to not only save these jobs, but create a dynamic new company that will leave a lasting impact in this region and Georgia.
We're very proud of Cady Bag's products and legacy in the community, said William H. Cady, president of the company and son of the company's founders, William H. Cady, Sr. and Nell G. Cady. We knew this was the right place with the workforce we needed to help the company grow, and we appreciate the support and encouragement we got to help make it happen.
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