Bradley County approves tax abatement for Wacker - WRCBtv.com | Chattanooga News, Weather & Sports

Bradley County approves tax abatement for Wacker

CLEVELAND, BRADLEY COUNTY -

(AP) - Bradley County officials approved a one-time property tax abatement for Wacker Polysilicon, which is building a plant in Charleston that will produce polysilicon for solar panels.

The county commission on Monday approved the $1 million abatement for 2014 in a unanimous vote. Gary Farlow, CEO of the Cleveland/Bradley Chamber of Commerce told The Chattanooga Times Free Press that the money would be to cover additional costs linked to additional investments that the company is considering (http://bit.ly/wtxhuK ).

The newspaper reported that the Munich, Germany-based company is expected to announce an additional $300 million investment in their plant.

Farlow estimated that once the plant is operational, it will provide an estimated $65 million into the community through salaries and wages for a projected staff of 600 employees.

 

Information from: Chattanooga Times Free Press, http://www.timesfreepress.com

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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