Business Briefs: Soddy-Daisy buys 285 acres

Business Briefs: Soddy-Daisy buys 285 acres

June 21st, 2014 by Associated Press and Staff Report in Business Around the Region

The Gulf in Soddy-Daisy

The Gulf in Soddy-Daisy

Photo by WRCB-TV Channel 3 /Times Free Press.

Soddy-Daisy buys 285 acres

Soddy-Daisy has agreed to buy 285 acres of wilderness that include more than two miles of the Big Soddy Creek to help protect the undeveloped land. The $1.15 million purchase of the Big Soddy Creek Gulf was approved by the Soddy-Daisy City Council Thursday night and pre-empts a scheduled July 19 auction planned for the property.

Dr. Steven Quarfordt, a Chattanooga radiologist, and his wife, Tiffany, have owned the land for the past decade. Chattanooga appraiser Henry Glascock valued the property at $3 million, but Quarfordt agreed to sell at a discounted price to help protect the land and gain a tax deduction on the value of the donated discount. The city will pay for the property over the next several years and the land could ultimately be added to the adjacent Justin P. Wilson State Park, if a sale can be negotiated with the state.

Auto suppliers build in state

Tennessee has landed another couple of automotive suppliers in Middle and West Tennessee.

Hatch Stamping Co., will build a $17 million engineered stamping and assembly plant in Portland, Tenn., that will add 101 jobs in Robertson County. The Michigan-based automotive equipment maker is adding the plant to serve the Southeast market.

In Jackon, Tenn., Pacific Industries plans to build a metal stamping and welding plant expected to employ 90 workers by the summer of 2015.