spot_img

PPG to receive $1.25M FastTrack incentive for new Loudon facility

Date:

spot_img

(The Center Square) – Tennessee plans to give PPG Industries $1.25 million in incentives for its new Loudon County facility.

PPG has announced plans for a $225 million paint and coatings manufacturing facility in Loudon and says it will create 129 new jobs at the facility. The company had $18 billion in reported sales in 2023.

The new facility is expected to be more than 250,000 square feet with warehousing space as well as paint and coatings production.

The FastTrack grant is expected to be approved at the Tennessee State Funding Board’s Monday meeting.

The Department of Economic and Community Development’s FastTrack grant program 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 come to a new state.

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

Details start to emerge about shooter at Trump rally as investigation continues

(The Center Square) – U.S. Secret Service agents killed...

Political leaders of both parties in Raleigh, Washington denounce violence

(The Center Square) – Violence doesn’t have a place...

9 House Democrats tried to block Secret Service protection for Trump if he goes to prison

Nine Democrats in the U.S. House sought to strip...