Amazon has purchased land in Mt. Juliet, Tennessee, where the internet retailer plans to build a 3.6 million-square-foot distribution facility.
Amazon.com Services is listed as the buyer and new owner of two properties that total about 77 acres, according to Wilson County property records reviewed by the Nashville Tennessean.
The properties are where a plan to build a distribution facility expected to provide anywhere from 1,000 to 2,000 jobs, based on discussions at public meetings and work sessions which went through the approval process under the code name Project Sam. The total price for the properties sold is more than $4.96 million.
An Amazon representative did confirm company's land purchase in Mt. Juliet, but did not elaborate further.
Amazon build a 1 million-square-foot distribution center in Chattanooga and a smaller warehouse complex in nearby Charleston, Tennessee in 2010 at a cost of $139 million. Those facilities employ more than 3,000 workers in Southeast Tennessee and are among six Amazon facilities now in the state.
AT&T aids Bethel Bible Village, Chattanooga State
AT&T is supporting Bethel Bible Village and Chattanooga State Community College as part of its statewide Believe TennesseeSM initiative.
On Monday, AT&T officials will make a $20,000 check presentation to Bethel Bible Village, an organization focused on providing safe, nurturing and Christ-centered homes for children and families in crisis. Additionally, AT&T will make a $5,000 check presentation to Chattanooga State Community College to support the school's student emergency fund. This fund ensures students receive the support they need in times of financial distress.
Launched this fall, Believe Tennessee aims to remove barriers to academic success and aid efforts to promote education in the Volunteer State.
Nissan workers take unpaid days
Nissan Motor Co. is making its U.S. factory and office employees take two days off without pay amid slumping sales.
The company's U.S. sales this year are down 7.8% through November.
Nissan says nearly all of its 21,000 U.S. workers must take Jan. 2 and 3 off without compensation. A company statement says the furloughs will "optimize business performance and competitiveness."
All of Nissan's U.S. factories and offices will be affected by the furloughs including the North American headquarters in Franklin, Tennessee, near Nashville. Nissan and Infiniti dealerships will remain open.
Most Nissan and Infiniti luxury brand models in the U.S. are in a sales slump, including the company's top seller, the Nissan Rogue compact SUV, with sales down 12.6% so far this year.
Nissan's profit from July through September was half of what it earned a year ago. The company's sales and brand power have crumbled following the November 2018 arrest of former Chairman Carlos Ghosn. Allegations against him include under reporting of his compensation and breaching trust by making dubious payments.
Last summer the Japanese automaker said it would cut 12,500 jobs, or about 9% of its global workforce, to pare costs and turn around its business.
Mortgage rates steady; 30-year loan at 3.68%
U.S. long-term mortgage rates held steady this week amid mixed signs in the housing market. Rates remain at historically low levels as a lure to prospective home buyers.
Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year fixed-rate mortgage was unchanged from the previous week at 3.68%. The benchmark rate stood at 4.75% a year ago.
The average rate on a 15-year mortgage ticked down to 3.14% this week from 3.15% last week.
Nominations requested for Small Business awards
The Chattanooga Area Chamber of Commerce is seeking nominations for its annual Small Business Awards, which will be given during an awards luncheon on April 1. 2020 at the Chattanooga Convention Center.
The awards recognize small businesses in four categories: 1-20 employees, 21-50 employees, 51-300 employees and nonprofit. Three finalist businesses are selected in each category, and an award recipient will be named in each category at the Small Business Awards Luncheon. Eligible businesses must have ownership or operations in metropolitan Chattanooga, be in business for at least three years and not be a previous award winner in the past five years.
Chattanooga housing cheaper than US average, but rising costs force more young adults to live with parents