An international automobile components company is looking to locate its first manufacturing operations in the U.S. by creating 206 jobs in the Washington County Industrial Park.

The unnamed company, which industrial development officials are calling “Project Stamp,” would be located in the now vacant 380,000-square-foot Alo Tennessee Inc. building, 115 Precision Blvd., in the Telford park.

The 44-year-old manufacturer of metal stamped auto components, which now has 17,500 employees and 26 production plants in 10 countries, has asked for a payment-in-lieu-of-taxes deal for its a two-phased project that calls for a total capital investment of $144,482,000.

Alicia Summers, vice president of business development for the Northeast Tennessee Regional Economic Partnership, said Thursday the company will create 117 jobs in the first phase of its development. The second phase, which concludes in 2027, will bring an additional 89 new jobs.

Summers said the company plans to spend $45.9 million of its projected capital investment this year to purchase equipment and the now privately owned former Bush Hog building in the industrial park. The company hopes to begin manufacturing operations at the site with 37 employees in 2022.

She said the company manufactures car doors and bumpers. Summers told members of the county’s Commercial, Industrial and Agricultural Committee that another county in Tennessee and sites in Michigan and Ohio are also competing for the company.

The CIA committee voted to approve the PILOT deal, and recommended the county’s Budget Committee do the same when it hears the plan on Thursday.

“We are creating good jobs for people who want to work with their hands,” CIA Chairman Phil Carriger told his colleagues.

Summers and Washington County Mayor Joe Grandy both stressed that the real property will remain on the county’s property tax rolls and the tax abatement plan includes new revenue earmarked for county schools, much like the deal the county reached in 2019 to lure German auto fan manufacturer Ebm-pabst to the Telford industrial park.

“Allowing direct funding for education is very significant,” Grandy said.

Under the terms of the PILOT, the company would be responsible for submitting reports of new jobs created and their annual wages on Jan. 31, 2022. The agreement requires the company to have created 90%, or 105, of its projected 117 new jobs in Phase I by Dec. 31, 2025.

Those jobs are expected to pay an average wage of at least $17 an hour. Failure to meet those terms would result in the company having to repay 50% of the PILOT benefits it has received.

Phase II will require the company to have created 90% of its promised 206 jobs, at a minimum hourly wage of $17, by Dec. 31, 2027. Failure to meet those terms will force the company to repay 50% of its benefits from the PILOT.

{p class=”p5”}As reported earlier:

An international auto manufacturing company is looking to locate its first operations in the United States in the Washington County Industrial Park.

The company, which industrial development officials are calling Project Stamp, would be located in the former Alo building in the Telford park. The company has asked for a payment in lieu of taxes deal for its a two-phased new capital investment of $144,482,000 that will create 206 jobs.

The company manufactures car doors and bumpers. Another county in Tennessee, as well as locations in Michigan and Ohio are also vying for the company.

Check back later for more on this developing story.

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Press Senior Reporter

Robert Houk has served as a journalist and photographer at the Press since 1987. He is a recipient of the Associated Press Managing Editors Malcom Law Award for investigative reporting.

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