An international automotive components manufacturer looking to locate in the Washington County Industrial Park has asked for additional land for future expansion.
The countyâs Commercial, Industrial and Agricultural Committee agreed Thursday âto convey 25 acresâ in the industrial park to the Washington County Industrial Development Board that will be sold to a company now identified as âProject Stamp.â
In April, Washington County commissioners approved a payment-in-lieu-of-taxes, or PILOT, agreement for the same unnamed company to locate in the Telford park. Economic development officials say the agreement could result in 206 new jobs coming to Washington County.
The company â with 26 production facilities in 10 countries â is looking at sites in Tennessee, Michigan and Ohio to locate its first plant in the United States. It has narrowed its search to include the vacant 380,000-square-foot former Alo Tennessee Inc. building in the industrial park
Before voting to approve a payment-in-lieu-of-taxes deal that they hope will lure an international auto components manufacturer to Telford, Washington County commissioners heard a status report on three existing PILOT agreements.
The data shows how those firms â Koyo/JTEKT, Dentsply Sirona and Ebm-papst â are faring under the terms of those payment-in-lieu-of-taxes arrangements.
Commissioners voted 13 to 1 on Monday to sign a PILOT with an unnamed company, which is being called âProject Stamp,â that could result in 206 new jobs coming to the Washington County Industrial Park. Before they made that decision, County Attorney Allyson Wilkinson updated commissioners on the PILOTs the county is currently engaged in.
An automotive components manufacturing company is asking for another payment-in-lieu-of-taxes agreement to expand its existing plant in Washington County.
The Washington County Industrial Development Board voted Tuesday to send a five-year PILOT deal to the County Commission calling for the company, which the Press has identified as Koyo/JTEKT located in the Washington County Industrial Park, to enter into an equipment lease with the county.
The deal also stipulates the county will provide it with a 75% property âtax abatement over a graduated schedule of three years running from the time of each capital expenditure.â
In return, the company will make a capital investment of $12.3 million in Washington County to expand its product line, and to add 25 jobs to its current payroll of 159 full-time employees at the Telford plant.