With Tennessee's unemployment insurance fund recovering with the economy, the state is removing an extra 0.6 percent fee on employer premiums for jobless benefits. The Tenessee Department of Labor and Workforce Development said Thursday most employers will pay less this quarter due to the improved fiscal health of the state fund for jobless benefits. As of June 30, Tennessee's Unemployment Compensation Trust Fund was more than $650 million, triggering the permanent expiration of the 0.6 percent additional fee in premium rates imposed in 2009 to help shore up the fund when it nearly ran out of money. Additionally, the trust fund trigger temporarily shifted the premium rate table to make further reductions in fees for most employers for the next two calendar quarters. As of Aug. 23, the state unemployment insurance fund had $817.6 million.
The Kumho Tire Co. is moving ahead with plans for a $225 million plant near Macon, Ga. Pat Topping, senior vice president of Macon Economic Development Commission, said that plans for the plant are moving forward after being on hold for five years because of difficult economic conditions. The plant is expected to be about 1 million square feet and employ up to 300 workers. Topping said the workers would be hired in 2016 and 2017.