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City panel OKs Alstom tax break despite worries

The Alstom logo is stamped onto the door of a turbine test facility inside the Alstom Power Turbines factory on Riverfront Parkway in Chattanooga on August 15, 2012.
The Alstom logo is stamped onto the door of a turbine test facility inside the Alstom Power Turbines factory on Riverfront Parkway in Chattanooga on August 15, 2012. The Alstom logo is stamped onto the door of a turbine test facility inside the Alstom Power Turbines factory on Riverfront Parkway in Chattanooga on August 15, 2012.

By Mike Pare 3 min read

A city panel Tuesday OK’d a revised property tax break for Alstom in which the company has agreed to pay more in the future.

But the plan drew fire from a taxpayer group.

Chattanooga’s Industrial Development Board approved the amended payment-in-lieu-of-taxes (PILOT) pact that was hammered out in talks with the city and Hamilton County mayors.

The move comes amid reports that General Electric is likely to win European Commission approval in the coming days for its $14 billion deal to buy Alstom’s energy assets.

City Attorney Wade Hinton said the hope is that Alstom will remain in the city and create more jobs.