Tennessee lawmakers plan to discuss the idea of clawbacks at a legislative hearing, tentatively planned for Oct. 29 in Chattanooga. Senate Pro Tempore Bo Watson, R-Hixson, said clawbacks will be discussed.
Tennessee Department of Economic and Community Development Commissioner Randy Boyd did mention the idea of clawbacks – requiring a company to return state money if the company doesn’t meet previously agreed upon benchmarks – in a letter he sent in late September to the General Assembly. But that letter merely outlines the clawback provision in the latest $165 million capital grant provided to VW.
“Any discussion of clawbacks is hypothetical. We have assurances directly from company executives that Volkswagen’s expansion remains on track,” said Clint Brewer, a spokesman for the department.
Read more from our news partners at The Tennessean.