2019 Popular Annual Financial Report volume 1 | Page 9

FY 18-19 M ilestones
F
ISCAL YEAR 18-19 was another eventful year
for the Town of Garner. Here are some of the
biggest highlights:
In July 2018, Standard & Poor’s Global Ratings
boosted its long-term rating from AA+ to AAA
on the Town of Garner’s general obligation (GO)
bonds. The rating upgrade came less than a
month before an approximately $4 million GO
bond issuance by the Town. In summarizing
its rationale for the improved rating, S&P said:
“The rating action reflects our view of the town’s
maintenance of extremely strong reserve and
liquidity positions; improvement in the town’s The new Amazon fulfillment center on Jones Sausage
financial practices management and policies, Road will become Garner’s largest employer once it begins
operations in 2020.
including the formalized implementation of a
capital improvement plan; and robust economic office but are not quite ready for market-rate
development and planning initiatives.”
office space.
In August 2018, the Town of Garner announced
Amazon’s selection of the Garner Technology
Center as the location for a new 2.6-million-square-
foot, state-of-the-art distribution center. The
Seattle-based e-commerce company said it would
invest approximately
$200 million in the
site on Jones Sausage
Road. The investment
is expected to create
an estimated 1,500
jobs, making the
distribution
center
easily Garner’s largest
employer.
In fall 2018, Operation
36 became the first-
ever tenant in the
new Gearworks. The
Operation 36 became the
concept involved con-
first-ever tenant in the new
Town-owned Gearworks ‘bridge verting 120 E. Main
space’ in Downtown Garner.
into a time-limited
“bridge space” for
small, scalable companies that previously may
have been in a co-working space or a home
In winter 2019, the Town Council voted
to purchase three tracts of land totaling
approximately 72.5 acres on East Garner
Road for use as a future park. The Town paid
approximately $2.4 million for the properties
and related fees and closing costs.
In spring 2019, the Town of Garner’s Public Works
Department was reaccredited by the American
Public Works Association. The department re-
ceived a 100 percent compliance score during
its evaluation. A team of three APWA evaluators
was on site in Garner for two days assessing the
department. The new accreditation period lasts
for four years.
In May 2019, the Garner Senior Center was
recertified as a Center of Excellence by the
N.C. Division of Aging and Adult Services.
The prestigious designation was the result of a
five-year process that involved documenting
achievement in five different operational areas:
outreach and access to services; programs and
activities; planning, evaluation and input from
older adults; staffing; and operations.
2019 P opular A nnual F inancial R eport
9