Southern Champion TraySouthern Champion Tray today won tax breaks from Chattanooga’s Industrial Development Board which will give the business about $500,000 in property tax savings for its new expansion in the city.
Charles Wood, the Chattanooga Area Chamber of Commerce’s vice president for economic development, said the company had been considering its Dallas-Fort Worth location for the expansion as well.
The payment in lieu of tax agreement will run from 2015 to 2022. The tax breaks will range from 25 percent to 50 percent over the period. The business will pay all of the county school taxes, according to officials.
The company, that makes bakery and food packaging items, plans to invest $18.1 million and add 105 employees over three years.
The business expects to have about 565 workers in the city after the expansion. The jobs will range from truck drivers to entry-level posts, the company has said.