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IDB approves annual Metro incentive payouts to Phillips and Alliance Bernstein amid abstentions
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Summary
The Industrial Development Board approved annual Metro incentive grant payouts: $317,500 to Phillips Holding USA Inc. and $541,500 to Alliance Bernstein LP. Phillips representatives attended and presented workforce and community-engagement data; Alliance Bernstein's representatives were absent and several board members abstained from that vote.
The Industrial Development Board approved annual payouts for previously authorized Metro incentive grants on April 8, voting to release $317,500 to Phillips Holding USA Inc. and $541,500 to Alliance Bernstein LP.
Brad Lampley, representing Phillips, and Steve Butler, a local Phillips leader, presented employment and community metrics during the meeting. Lampley highlighted that Phillips recruits locally, runs partnerships with regional universities and has invested in community programs. He cited workforce statistics included in the board packet, saying roughly 59% of Phillips’ employees are female and that about half of the workforce live in Davidson County. Lampley described the firm’s local engagement efforts, calling its Nashville effort “a success story” and pointing to a company program called Nashville Engage that encourages employee volunteerism.
Board members asked about employee residence patterns and lease terms for Phillips’ local office. Metro legal confirmed the required third-party audit and the annual settlement statement were in the packet and in order. The board moved and approved the annual Metro incentive grant payout to Phillips Holding USA Inc. in the amount of $317,500; the chair asked the record to show the chair abstained.
On Alliance Bernstein LP — which had a last-minute scheduling conflict and whose representatives were not present — the board reviewed the audit materials in the packet and Metro legal confirmed the documentation was in order. Board members voiced concern that the company was not present to answer questions but noted the audit package and prior engagement history. The board approved the annual payout for Alliance Bernstein LP in the amount of $541,500; multiple abstentions were recorded. One board member explicitly said they would abstain because they wanted to hear from the company; the record later shows board member Channel and the chair also abstained.
Both payouts were for previously approved incentive agreements; the board was voting only on the annual payout amounts and whether the audit and settlement materials met the requirements in each file. Metro legal confirmed that, from a legal perspective, the board was in a position to approve both payouts.
What happens next: staff will complete settlement processing for the payouts and the board requested continued engagement and periodic updates from participating companies.
