The Rutherford County Industrial Development Board approved Monday $18 million in tax incentives for an unnamed company bringing 1,000 jobs to Smyrna.
The Daily News Journal reports that the manufacturing company will invest $100 million and create 1,000 jobs with an average wage of $38,000.
The incentive plan cuts property taxes for the company over a 20-year period and is expected to additionally create 1,672 indirect jobs.
Murfreesboro real estate entrepreneur Scott Graby is a step closer to adding Class A office space to Murfreesboro's Gateway district. Scott Broden with The Daily News Journal reports that Murfreesboro Gateway Commission members on Tuesday voted to have the city prepare a contract to sell to Graby 12 acres near Saint Thomas Rutherford Hospital for $2.6 million. Graby's Hearthstone Group plans to break ground on a 100,000-square-foot office building this spring. If things go well, Hearthstone would like to add two other buildings to what it's calling The Fountains at Gateway.
A Utah-based apartment investment company has bought apartment complexes in Goodlettsville and Murfreesboro for an undisclosed sum. In acquiring The Ridge at Green Haven and Summerlake, Peak Capital Partners has doubled its presence in greater Nashville, and founder and Managing Partner Jamie Dunn said his team expects to invest more in the region. The Ridge at Green Haven has 191 units and is 95 percent occupied while Summerlake has 176 units and is 92 percent full. Peak Capital was founded in 2007 and owns 80 apartment communities in 15 states.
A Vanderbilt MBA graduate now residing in Florida has acquired Smyrna-based airplane systems company Carpenter Avionics. Mark Lee launched Momentum Aviation Holdings with the aim of buying aviation services companies. As part of his deal for Carpenter, Lee (pictured here) is retaining John DenDekker, who has been Carpenter's general manager since 2011.
“In life, a time comes when it feels appropriate to transition your business to the next generation,” said Fran Carpenter, who has served as CEO and President at Carpenter Avionics since 2010. “I am confident that with this new leadership team’s experience and vision, Carpenter Avionics will thrive and grow.”
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