Firms get tax breaks for new Chattanooga jobs

Firms get tax breaks for new Chattanooga jobs

November 22nd, 2013 by Mike Pare in Local - Breaking News

A pair of companies investing and adding new jobs in Chattanooga drew property tax breaks today, but questions were raised about the need and the transparency of negotiations over such inducements.

Woodbridge Chattanooga Formed Plastics is creating about 70 full-time jobs in the city and investing $8.5 million. Also, it may grow that number by another 130 jobs and bolster investment by an additional $8 million, officials said.

In addition, WNA American Plastics Industries is adding 53 jobs and investing $15 million, according to the company.

Both companies received tax breaks which were approved by the city's Industrial Development Board.

But, local citizen Helen Burns Sharp questioned how fully such tax incentives are publicly vetted. Also, she said that similar tax breaks at times appear to be a reward to a company rather than an inducement for businesses to invest and add jobs.

See more in Saturday's Times Free Press.