An international automotive components manufacturer looking to locate in the Washington County Industrial Park has asked for additional land for future expansion.
The countyâs Commercial, Industrial and Agricultural Committee agreed Thursday âto convey 25 acresâ in the industrial park to the Washington County Industrial Development Board that will be sold to a company now identified as âProject Stamp.â
In April, Washington County commissioners approved a payment-in-lieu-of-taxes, or PILOT, agreement for the same unnamed company to locate in the Telford park. Economic development officials say the agreement could result in 206 new jobs coming to Washington County.
The company â with 26 production facilities in 10 countries â is looking at sites in Tennessee, Michigan and Ohio to locate its first plant in the United States. It has narrowed its search to include the vacant 380,000-square-foot former Alo Tennessee Inc. building in the industrial park
Washington County commissioners approve in-lieu-of-taxes deal
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Tax deal for prospective company on its way to commissioners
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An international automobile components company is looking to locate its first manufacturing operations in the U.S. by creating 206 jobs in the Washington County Industrial Park.
The unnamed company, which industrial development officials are calling âProject Stamp,â would be located in the now vacant 380,000-square-foot Alo Tennessee Inc. building, 115 Precision Blvd., in the Telford park.
The 44-year-old manufacturer of metal stamped auto components, which now has 17,500 employees and 26 production plants in 10 countries, has asked for a payment-in-lieu-of-taxes deal for its a two-phased project that calls for a total capital investment of $144,482,000.
Alicia Summers, vice president of business development for the Northeast Tennessee Regional Economic Partnership, said Thursday the company will create 117 jobs in the first phase of its development. The second phase, which concludes in 2027, will bring an additional 89 new jobs.