Yanfeng logoThe vote was unanimous. Yanfeng Automotive Interiors will get a 50 percent break on plant equipment for 14 years, which will mean $600,000 in new revenue for county general government.
Chamber of Commerce Economic Development Vice President Charles Wood told commissioners at their agenda session last week the agreement does not affect real estate taxes on the plant site, and Yanfeng will pay about $1.2 million in school taxes over the years.
The Chattanooga City Council approved the tax break Tuesday.
Yanfeng will build a $55 million plant on Bonnyshire Drive and employ 350 people at an average salary of $50,000, according to Wood.
Yanfeng already has 22 plants in the U.S. and 100 worldwide. In Chattanooga, it will supply interior components for future VW models. Production is set to begin in late 2016.
Also Wednesday, commissioners voted:
' To apply for a $200,528 state clean energy grant to upgrade lighting systems in the courts building. The total project cost is $417,426.
' To apply to the Tennessee Department of Environment and Conservation for $1.25 million to replace outdated equipment in the county highway department. The county match is $125,000. County Engineer Todd Leamon said the grant comes through the federal Congestion Mitigation and Air Quality program, aimed at reducing airborne pollutants.
' To raise the application fee for a Board of Zoning Appeals public hearing from $50 to $100.
' To distribute funds to various programs through district "discretionary" funds including $29,500 to Dallas Bay Volunteer Fire Department (District 3); $4,000 to Harrison Bay Elementary for lab equipment, and $750 to Junior Achievement Inc. (District 9); $3,500 to Psi Lambda Educational Foundation and $2,5000 to Ancient Egyptian Arabic Order Nobles Mystic Shrine Inc., Hyksos Temple No. 123 (District 4).