A pair of companies investing and adding new jobs in Chattanooga drew property tax breaks today, but questions were raised about the need and the transparency of negotiations over such inducements.
Woodbridge Chattanooga Formed Plastics is creating about 70 full-time jobs in the city and investing $8.5 million. Also, it may grow that number by another 130 jobs and bolster investment by an additional $8 million, officials said.
In addition, WNA American Plastics Industries is adding 53 jobs and investing $15 million, according to the company.
Both companies received tax breaks which were approved by the city’s Industrial Development Board.
But, local citizen Helen Burns Sharp questioned how fully such tax incentives are publicly vetted. Also, she said that similar tax breaks at times appear to be a reward to a company rather than an inducement for businesses to invest and add jobs.
See more in Saturday’s Times Free Press.
Mike Pare, the deputy Business editor at the Chattanooga Times Free Press, has worked at the paper for 27 years. In addition to editing, Mike also writes Business stories and covers Volkswagen, economic development and manufacturing in Chattanooga and the surrounding area. In the past he also has covered higher education. Mike, a native of Fort Lauderdale, Fla., received a bachelor’s degree in communications from Florida Atlantic University. he worked at the Rome News-Tribune before ...