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State Funding Board approves fast-track grants for five projects totaling $8.9 million
Summary
The Tennessee State Funding Board on Aug. 25 approved fast-track economic development grants and job-training assistance totaling $8.9 million to support five projects in Crockett, Fayette and Unicoi counties.
The Tennessee State Funding Board on Aug. 25 approved fast-track economic development grants and job-training assistance totaling $8.9 million to support five projects in Crockett, Fayette and Unicoi counties.
Allison Page, budget and finance administrator for the Department of Economic and Community Development, told the board the department’s fast-track balance and commitments supported the awards and that the five projects combined represent the creation of roughly 500 net new jobs, retention of 166 jobs and about $186 million in planned capital investment across the projects.
“These are really exciting for us,” Page said, summarizing the package before the board. The board moved to approve the five projects by voice vote; the motion was seconded and passed.
The projects and Department of Economic and Community Development summaries presented to the board:
- Hitachi Energy USA (Alamo, Crockett County): The company plans a manufacturing expansion to increase capacity for transformer components. The department said…
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