State providing $100M in disaster relief to Helene victims
Help is on the way for Georgia farmers and timber producers who suffered losses from Hurricane Helene.
The Georgia State Financing and Reinvestment Commission (GSFIC) voted Friday to redirect $100 million from a state capital projects fund to provide financial support for farmers affected by the massive storm and debris cleanup for owners of damaged timberland.
'As Georgia's No.1 industry continues on the road to recovery from Hurricane Helene, I'm thankful our partners on all levels, including the GSFIC board, are working with us to provide relief to those who put food on our tables and provide the materials that build our communities,' Kemp said following Friday's vote.
'This measure is the latest we've taken to help them rebuild their livelihoods, but it will not be the last. We'll continue to work with stakeholders on all levels to direct resources and support to the hardworking Georgians devastated by this storm.'
Helene cut a wide swath of destruction through southeast Georgia in late September before heading into the Carolinas. The storm left 34 dead in Georgia and caused catastrophic damage to homes, businesses, crops, and timberland.
A preliminary report from the University of Georgia College of Agricultural and Environmental Sciences estimates agricultural damages from Hurricane Helene will cost the state's economy at least $6.46 billion, representing the sum of direct crop losses, losses to businesses that support agriculture and forestry, losses to workers in those related industries, and estimated recovery and restoration costs that agricultural businesses will face.
The $6.46 billion impact is more than double the estimated losses caused by Hurricane Michael in 2018, the most devastating storm in recent history at that time.
Of the $100 million approved by the GSFIC board, $75 million will provide disaster relief loans to those in the agriculture industry, while $25 million will go to those in the timber industry to support cleanup efforts and debris removal on timberland as well as the enhancement of fire control measures.
The board of the Georgia Development Authority, which will oversee the disaster relief package, will meet on Monday in Macon to plan disbursement of the money.
