The former Toshiba plant in the William D. Baird subdivision may have its remaining building space filled soon.
This would mark the second company to move into the space and would fill all of the remaining property space left after Toshiba exited in September 2007.
Toshiba, an electronics corporation, located to Lebanon in 1977 and continued to grow its facility from 148,000 square feet to 1 million square feet while there.
According to G.C. Hixson, executive director of the Joint Economic and Community Development Board of Wilson County, a confidential company looks to close on the remaining 494,000 square feet of the building.
Hixson told the JECDB on Thursday the active project, Project Plato, was still in the final negotiation phases.
Hixson said the company looked to close by the end of the month.
At its last meeting in September, the Wilson County Budget Committee approved a payment in lieu of taxes program for the company.
Based on its 40 percent assessed value, the PILOT program would consist of waiving more than $50,000 a year in real property taxes for four years, said Hixson.
Though there are additional renters looking to rent space in the building, the PILOT program would be based on Project Plato’s purchase and use of the space only.