Mt. Pleasant is in line to land a tile manufacturer that is preparing to invest $55 million in a 500,000-square-foot plant that will employ 180 people. UST Inc. is getting $5.2 million in tax incentives to build the factory. Tim Hodge at the Daily Herald has more details about the Maury County deal.
Evaluating the number of jobs created and the amount of capital invested in a 13-month span, Business Facilities magazine gave the top recognition to Tennessee this year. Here's a breakdown of the projects they based their decision on, from the Haslam administration:
The top economic development projects for number of jobs created and amount of capital invested from Oct. 1, 2012, – Oct. 31, 2013, include the following.
Top Five Projects for Jobs
· Hankook Tire Co., Ltd (Montgomery County): 1,800 jobs
· ARAMARK (Davidson County): 1,500 jobs
· Nissan North America, Inc. (Rutherford County): 1,400 jobs
· Calsonic Kansei North America, Inc. (Bedford, Marshall and Rutherford counties): 1,200 jobs
· UBS (Davidson County): 1,000 jobs
Top Five Projects for Capital Investment
· Eastman Chemical Company (Sullivan County): $1.6 billion
· Hankook Tire Co., Ltd (Montgomery County): $800 million
· International Paper Company (Shelby County): $321 million
· Nike, Inc. (Shelby County): $276 million
· Alcoa, Inc. (Blount County): $275 million
Volkwagen CEO Martin Winterkorn today said the auto maker will plow another $7 billion into its North American operations between now and the end of 2018 to reach its goal of selling 1 million cars annually here. Key to that plan is the introduction of a mid-sized SUV that will be built on this continent and Bloomberg's Christoph Rauwald reports that insiders are leaning toward expanding their Chattanooga operations rather than build that car in Mexico.
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