Tennessee House committee OKs $29 million for Wacker Chemical

Tennessee House committee OKs $29 million for Wacker Chemical

April 12th, 2011 by Andy Sher in Local - Breaking News

Juan Salinas attaches a storm drain to the chord that will transport it off the semi-truck Tuesday at the Wacker construction site. The site is 600 acres. Staff Photo by Allison Carter/Chattanooga Times Free Press

NASHVILLE - The House Finance Committee today approved a $106.4 million bond authorization bill that includes $29.4 million for infrastructure at Wacker Chemical's $1.45 billion plant in Bradley County.

The money, which is being funneled through the Southeast Tennessee Development District, is going toward acquisition of equipment and site preparation and development including but not limited to sewer, water, utility infrastructure and rail infrastructure.

Wacker is building the plant, which will employ 650 people, to manufacturer polysilicon used in solar panels. The groundbreaking ceremony was held last week.

The remaining $77 million in bonds from the bill would go toward state commitments to a Electrolux Home Products plant in Memphis.

According to a fiscal analysis, the $106.4 million bill will cost the state $67.03 million in interest over the 20-year life of the bonds.

The bill has not started moving in the Senate.