Hamilton County commissioners voiced their support Wednesday for a special tax district that would help with the construction of a new 88-acre industrial park on part of the former DuPont plant property, a project that is expected to create 600 jobs.
“This is in my district, and I’ve been very excited about it since the first day I received a call to come and meet about a potential project,” Commissioner Ken Smith, R-Hixson, said during a meeting Tuesday. “Seeing it move along like this is incredibly exciting. It will be one of the biggest developments that has taken place out there just about ever of its kind.”
The panel will consider the economic impact plan for the project next Wednesday, and the Chattanooga City Council, which heard an overview of the development Tuesday, will also vote on the proposal next week.
If approved by both bodies, a final vote for the development and financing agreement would occur at the city’s industrial development board Aug. 1.
Through the creation of a tax increment financing district, the city and the county would provide the developers with $8.7 million in new property tax revenue generated at the site. That would be paid out over 20 years and cover a portion of the roughly $23.5 million worth of infrastructure costs.