NASHVILLE — The House Finance Committee today approved a $106.4 million bond authorization bill that includes $29.4 million for infrastructure at Wacker Chemical’s $1.45 billion plant in Bradley County.
The money, which is being funneled through the Southeast Tennessee Development District, is going toward acquisition of equipment and site preparation and development including but not limited to sewer, water, utility infrastructure and rail infrastructure.
Wacker is building the plant, which will employ 650 people, to manufacturer polysilicon used in solar panels. The groundbreaking ceremony was held last week.
The remaining $77 million in bonds from the bill would go toward state commitments to a Electrolux Home Products plant in Memphis.
According to a fiscal analysis, the $106.4 million bill will cost the state $67.03 million in interest over the 20-year life of the bonds.
The bill has not started moving in the Senate.
Andy Sher is a Nashville-based staff writer covering Tennessee state government and politics for the Times Free Press. A Washington correspondent from 1999-2005 for the Times Free Press, Andy previously headed up state Capitol coverage for The Chattanooga Times, worked as a state Capitol reporter for The Nashville Banner and was a contributor to The Tennessee Journal, among other publications. Andy worked for 17 years at The Chattanooga Times covering police, health care, county government, ...