Alstom has agreed to pay more in property taxes to Chattanooga and Hamilton County after it failed to reach its jobs goal from a 2008 expansion.
The company will pay more than $630,000 a year in new taxes to the city and county for the remaining eight years of its tax incentive agreement, officials said Thursday. Also, Alstom said it will prepay $250,000 towards its 2016 tax payments to the city and county.
Chattanooga Mayor Andy Berke speaks to members of the Chattanooga Times Free Press editorial board on May 20, 2015, in Chattanooga.
Staff Photo by Dan Henry / The Chattanooga Times Free Press- 6/22/15. Hamilton County Mayor Jim Coppinger vetoes the County Commission’s amended budget on June 22, 2015 after they reinstated discretionary funds last Wednesday. “This is a big win for Chattanooga,” said Chattanooga Mayor Andy Berke during a press conference at City Hall. “We’ve gone from a situation where the city was getting zero dollars a year from Alstom to over $400,000 a year.”
Hamilton County Mayor Jim Coppinger said local government is holding businesses accountable.
“Moving forward, the message we want to send is we’re looking out for your tax dollars,” he said.