Justin P. Wilson, Tennessee ComptrollerTennessee next week will hold the largest bond sale in state history to pay for capital and infrastructure projects including Volkswagen, Amazon and Wacker, according to a news release.
The state will sell an estimated $584 million worth of bonds, Tennessee Comptroller Justin Wilson said in the release.
He also noted the state's excellent credit rating will ensure low interest rates.
"I'm pleased that these bonds will be used to pay for a variety of needs our citizens have, including economic development projects that will create badly-needed jobs. Also, this sale represents an opportunity for us to save taxpayer money by capitalizing on low interest rates."
Some of the bond proceeds will be used to pay for new capital projects and infrastructure, including economic development grants for Volkswagen in Chattanooga, Wacker Chemical in Bradley County, Hemlock Semiconductor in Clarksville and Electrolux in Memphis. Those projects are expected to create 4,650 new permanent jobs, plus thousands more construction jobs and jobs in related industries.
The proceeds will also finance improvements to various state-owned buildings and properties across Tennessee, including a new research building for the University of Tennessee-Knoxville campus, a new library for the University of Tennessee-Chattanooga campus, a prison in Bledsoe County, renovations to the Supreme Court building and other state office buildings in Nashville and a new driver license center in Memphis.
See Saturday's Times Free Press for complete coverage.