The spending of state and local money tied to Volkswagen’s auto plant is on budget, officials said today.
But, little if any of the grant money for the project is expected to go unspent, they told Chattanooga’s Industrial Development Board.
“I don’t anticipate there will be anything left at the end,” said City Engineer Bill Payne about grant money related to building infrastructure at the plant site such as roads, stormwater drainage and other needs.
As part of the incentives to woo the Volkswagen assembly plant, the city, Hamilton County and state committed more than $230 million to help build the $1 billion factory.
The 2 million-square-foot facility is expected to start production in early 2011.
For the full story, see tomorrow’s Chattanooga Times Free Press.