IDB approves first payment to AIS Enclosure Systems under high-growth, high-jobs program

The Industrial Development Board on June 2 approved a $9,375 grant payment to AIS Enclosure Systems, Chattanooga LLC, as the first of five scheduled payments under the board’s new high-growth, high-jobs investment program. The payment corresponds to job verification by the Tennessee Department of Labor and Workforce Development dated Dec. 31, 2024.

Agenda materials state the authorized payment reflects verification of 22 full-time jobs with an average annual wage of $59,836. City staff told the board the company had completed more than $2,062,330 in capital investment and met or exceeded its 2024 commitments; staff also said the company reported 18 new jobs and that the company had exceeded its 2024 commitments, triggering the first-year incentive payment. The board's payment will be matched by Hamilton County as part of the incentive structure.

Sherita Allen outlined that the new high-growth, high-jobs program was created to incentivize retention and expansion projects that are not eligible for traditional pilot incentives and that future payments under such agreements will typically be verified annually. Adam Myers of the Chattanooga Chamber told the board he had worked with city staff and site-selection consultants on the competitive recruitment that brought AIS to Chattanooga.

Board members moved, seconded and approved the payment by voice vote. Staff said future payments for the project will be brought back for verification and payment in subsequent years, and that future agreements may allow staff to process routine payments and report to the board rather than return each year for approval.