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Industrial board approves PILOT agreement for company expansion


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 “tax abatement over a graduated schedule of three years running from the time of each capital expenditure.”
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. ....

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Mayors seek to set the record straight on regional development


The mayors of Sullivan and Washington counties say there is no mystery to a new model being proposed for economic development in the region.
“It’s no secret,” Sullivan County Mayor Richard Venable and Washington County Mayor Joe Grandy said in what they called “an open letter on regionalism” released on Wednesday. “The resulting proposal is simple. Financially, local governments are asked for exactly this. Zero.”
Venable and Grandy said they issued the statement to address “ongoing regional conversations about how best to magnify the voice of Northeast Tennessee on economic, entrepreneurial, tourism and workforce development.”
Their comments followed concerns expressed by the Kingsport Board of Mayor and Aldermen regarding the creation of a new “regional hub” for economic development structured under the umbrella of the First Tennessee Development District. Kingsport officials said they have not been included in th ....

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