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IDB approves $1 million in state grants for Graphic Controls Acquisition Corp (d/b/a Nisha Medical)
Summary
The Industrial Development Board approved side agreements to pass through two Tennessee ECD grants — $600,000 economic development and $400,000 emerging industries grants — for Graphic Controls Acquisition Corp (doing business as Nisha Medical), which plans an engineering/R&D relocation to Nashville with about 38 jobs and $4.5 million in capital.
The Industrial Development Board approved side agreements on Nov. 12 to pass through two Tennessee Department of Economic and Community Development (ECD) grants to Graphic Controls Acquisition Corp, the Tennessee entity doing business as Nisha Medical. The board’s action allows the state grants to move forward while making clear the board is a pass‑through issuer and not the guarantor of the awards.
Mindy Barones, assistant commissioner for strategic initiatives at…
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