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Chattanooga IDB approves $135,000 performance grant for Master Machine expansion
Summary
The City of Chattanooga Industrial Development Board on Aug. 4 approved a performance-based grant package of up to $135,000 to support Master Machine Inc.'s move into a 79,000-square-foot facility and the creation of up to 45 jobs; the award drew public questions about transparency and whether the program is codified.
The City of Chattanooga Industrial Development Board on Aug. 4 approved a resolution authorizing board leadership to execute a project grant agreement with Master Machine Inc. for a performance-based award of up to $135,000 to support a Chattanooga expansion that the company says will create about 45 new jobs.
The grant will be paid only after the company creates and retains jobs according to a multi-year schedule; Hamilton County is expected to consider a matching share of the award at its upcoming meeting. The board voted to approve the resolution after staff and outside presenters described the program and the company’s investment plans.
Board staffer Sherry Allen, senior adviser for economic and workforce development for the City of Chattanooga, told board members, "The staff is recommending approval of this item. It's a performance based grant and that the company has to create the jobs before the performance is paid out." Allen said the maximum award is $135,000, paid over multiple years, and that payments would be split with Hamilton County but administered through the IDB if both jurisdictions approve.
Why it matters: The award supports job creation and higher wages in a target…
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