Chattanooga’s Industrial Development Board today gave its OK to a financial incentives package for Volkswagen’s $600 million expansion.
Panel member Chris Ramsey asked for regular reports on minority- and women-owned business participating and hiring for the project, which is expected to lead to VW bringing on 2,000 more jobs to produce a new sport utility vehicle at it plant.
In addition, there was a request for similar reports related to military veterans.
Nick Wilkinson, the city’s deputy administrator for economic development, told the board the city is expecting a “significant multiplier effect” from the plant expansion announced last week.
On Wednesday, the Hamilton County Commission approved the incentives, which are projected to amount to $274.3 million from the city, county, state and utilities. The City Council is expected to give its OK next week.
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 ...