A tier-one automobile supplier, the name yet to be announced, will be moving into the Enterprise South Industrial Park, the City Council was told on Tuesday.
Charles Woods, chief economic development officer for the greater Chattanooga area Chamber of Commerce, said the business will have 250 employees with salaries greater than $40,000 per year. The company moving here does not involve a PILOT tax break agreement.
An additional 43 acres that are adjacent to the park are being acquired. The land transaction is the city’s contribution to the project.
Excluding the new property, the vacant land remaining in the industrial park consists of one small lot of 10 acres, and there are 300 acres of “release property” from Volkswagen that is restricted for use by an automobile supplier.