spot_img

Bridgestone Foods gets $1.3M incentive grant

Date:

spot_img

(The Center Square) – Bridgetown Natural Foods is receiving $1.3 million through incenctives for its $78.3 million manufacturing and distribution facility in Tennessee.

The project in Lebanon is being awarded a FastTrack Job Training Assistance Grant that was not disclosed Wednesday and was first listed without a project name by the State Funding Board.

FastTrack grants are state grants sent to companies to help offset the costs of expanding or moving into the state with the goal of increasing the number of full-time jobs and the average wages of jobs available in an area.

Economists question the effectiveness of financial incentives to private businesses to expand or change locations. State and local governments continue to expand the incentives.

The Bridgetown grant comes after the state awarded $8.8 million in incentives in early March and $2.8 million in FastTrack grants for the first two months of 2023.

Bridgetown is based in Oregon and the new Wilson County facility will be its second location outside of its headquarters.

The company plans to annually produce nearly 100 million pounds of the company’s all-natural, organic and gluten-free snack brands at the facility.

Read the Black Chronicle Black History Edition for Free! Click Below

Read the Black Chronicle Black History Edition for Free! Click Below

spot_img
spot_img

Subscribe

Share post:

Popular

More like this
Related

Pritzker heralds passage of health insurance legislation amid cost hike warnings

(The Center Square) – Health insurance procedures will look...

Washington’s high-capacity magazine ban back in court, ruling expected next week

(The Center Square) – There was no decision from...

Judge pauses SEC case against ex-ComEd boss Anne Pramaggiore

(The Center Square) – A federal judge has temporarily...