A city panel Tuesday approved a payment-in-lieu-of-tax agreement with Chattanooga Seating Systems, which has set up shop in Volkswagen’s supplier park.
The company received a four-year tax break from the city’s Industrial Development Board. The company has promised to invest $4.7 million and create 105 full-time jobs paying about $30,255 a year.
Chattanooga Seating, which will assemble seats for VW’s new midsize sedan, will pay the schools portion of the property tax, officials said.