A new unnamed company has Wilson County under consideration for its home.
Known as Project Runway by county leaders and the Wilson County Joint Economic and Community Development Board, the business project was discussed at Wednesday’s Wilson County Budget Committee meeting.
G.C. Hixson, executive director of the Joint Economic and Community Development Board, brought the project to committee members because the business seeks to take advantage of the county’s payment in-lieu-of taxes incentive program.
The company is a nationally recognized and publicly owned company that “seeks a facility that could meet both present and future logistics, ecommerce and distribution needs,” according to a memo distributed by Hixson. “The company seeks to combine multiple existing centers into a central location.”
The company has the Park 840 Building 200 in Wilson County under consideration. The buildingconsists of 408,240 square feet. It has immediate access to Interstate 840 and is convenient to Interstates 24 and 40. It is newly built.
The consolidation would result in “an employment base of 435 employees,” Hixson said. “Of this total, it is projected that 150 new or local, hires would be required. Positions will include senior managers, administrative staff, shift directors, DOT operators and other logistic support personnel.”
The company has looked at a number of facilities in Middle Tennessee but narrowed its scope to Park 840 among its final properties under consideration.
In addition to local incentives, the company also requested regional and state incentives.
“Our office has conducted an initial impact analysis for this project,” Hixson said. “Based on those findings, the project qualified for a four-year real and personal property abatement. The project is anticipated to have a total investment of $45 million.”
That would include $30 million for the property and $15 million for the equipment.
The $30 million real property tax savings would total about $1.2 million, spread out over four years, while the $15 million personal property investment would save the company nearly $273,000, spread out over four years. The company will pay a projected nearly $40,000 during the four-year PILOT term.
Hixson said the Joint Economic and Community Development Board previously approved the project for compliance. He said, based on the PILOT program guidelines, “the company’s intent is to purchase the property and other economic benefits for this project,” and recommended the Budget Committee approve the request.
The committee approved the request unanimously, which will send it to the full Wilson County Commission for approval.