Chattanooga City Council approves tax breaks for Coca-Cola Bottling Co.

Chattanooga City Council approves tax breaks for Coca-Cola Bottling Co.

March 11th, 2014 by Joy Lukachick Smith in Business Around the Region

Chattanooga City Council unanimously approved tax breaks for the Coca-Cola Bottling Co. set to build a new distribution center at the former Olan Mills site.

City officials also voted to rezone the property to make way for new facility that Chattanooga Coca-Cola has pledged to spend $62 million and bring 43 new jobs to the city over the next year.

Both Chattanooga and Hamilton County, if approved by the commission, will offer an estimated $5.9 million in tax incentives over the next 12 years. This agreement would give the company two years relief from paying property taxes, except for funds to the school system.