Industrial Development Board Meets, Gives Projected Total Cost of White Pine Commerce Park Project

The Jefferson County Industrial Development Board met Friday, February 27, 2017, and was joined by a number of citizens. The meeting opened with comments and questions by citizens. The primary concerns of citizens revolved around the tax abatement of Nyrstar. In response, Chairman Masters stated that Nyrstar’s tax abatement was completely finished as of January 1, 2017, making them taxable. Masters also confirmed that between approximately $30k – $40k had been spent on the White Pine project, at this point. Following comments and questions from citizens, the board approved the minutes from the previous meeting, as well as the financial report, both of which were appropriately seconded and passed.

Next on the agenda was a review of the White Pine commerce park project, beginning with the presentation on selection processes and criteria for the site that had been given at the White Pine meeting in January. Included in the presentation was a list of possible funding sources, including grants from TN Economic and Community Development, Tennessee Department of Transportation, Tennessee Valley Authority, US Department of Housing and Urban Development, and US Department of Agriculture. Also included in the presentation was a projected cost analysis, setting the predicted total development cost of the project at $15,437,917.

Following the presentation, the board looked at projected job creation from the park. Masters stated that the estimate would be completed in time for the March 13 Commission meeting. A final motion, appropriately seconded, would adjourn the meeting.