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State Funding Board approves $3.5 million in fast-track grants for Barrett Firearms in Murfreesboro and Hyosung in Memphis
Summary
The Tennessee State Funding Board on May 19 approved fast-track economic development grants totaling $3.5 million to support facility expansions by Barrett Firearms Manufacturing in Rutherford County and Hyosung in Shelby County.
NASHVILLE — The Tennessee State Funding Board voted May 19 to approve two fast-track economic development grants totaling $3,500,000 to help offset construction and property costs for manufacturing expansions in Murfreesboro and Memphis.
Commissioner Stuart McWhorter of the Tennessee Department of Economic and Community Development presented the projects, saying Barrett Firearms Manufacturing in Murfreesboro would receive a $2,000,000 fast-track grant. Barrett has committed to create 83 net new jobs and to…
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