Kimball City Attorney and Marion County Attorney Billy GougerJASPER, Tenn. – Tennessee Galvanizing Inc. plans soon to begin a $2.25 million expansion here that officials said should add 65 jobs over the next three years.
The Marion County Commission approved a 10-year tax abatement program to encourage construction of a new centrifuge plant at the Jasper facility. Last week, the board voted unanimously to provide property tax breaks to the company over the next 10 years.
In August, the Jasper Board of Mayor and Aldermen voted unanimously to “follow suit” with city tax breaks for the expansion if county commissioners approved a plan.
County Attorney Billy Gouger said the expansion will “open up a whole new market” for the manufacturer.
Through a tax abatement program, the county gives up a portion of its property tax revenues from the expansion as an incentive to the company, he said. The 10-year agreement will reduce what the company otherwise would pay the county by $36,999 and reduce what would otherwise be charged by the city by $28,924 on the new equipment, Gouger said.