Hamilton County commissioners voted 7-0 this morning to offer about 20 acres of property at Enterprise South industrial park to Gestamp Corp.
The company, a Volkswagen supplier, announced last week that it will build a $90 million plant near VW’s new $1 billion car manufacturing plant.
The land at Enterprise South — a 49.7-acre tract — is jointly owned by the city of Chattanooga and the county.
Gestamp has an option to buy the rest of the property outside the initial 20 acres, County Mayor Claude Ramsey said.
Gestamp will pay $35,000 per acre for the land.
For full details, see tomorrow’s Chattanooga Times Free Press.
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