Deal Protects Tax Dollars During Hemlock Lay Offs - NewsChannel5.com | Nashville News, Weather & Sports

Deal Protects Tax Dollars During Hemlock Lay Offs

Posted: Updated:

By Adam Ghassemi

CLARKSVILLE, Tenn. – It's a $1.2 billion facility that's nearly complete, but in 2008 when leaders of Hemlock Semiconductor announced they were making such a big investment near Clarksville they had no way of knowing the future.

They didn't know polysilicon, the product used to make solar panels, would today be overproduced, and proposed tariffs to sell to China would lead them to lay off 300 of their 400 employees before production ever begins.

"If jobs don't come, then those triggers are never pulled," said James Chavez, President and CEO of the Clarksville-Montgomery County Economic Development Council.

Chavez said the deal to bring Hemlock came with strong safeguards, which mandate if the company isn't operating by the end of 2013 it will have to pay back the local land breaks it received on its 500 acre footprint near the Tennessee/Kentucky border.

"We didn't put money or we didn't make an investment and now are going to dump it on the back of the tax payer. We're kept whole. They will continue to pay that," Chavez said by phone Tuesday from an auto convention in Detroit where he hopes to attract even more companies to Clarksville.

Without a total of 500 jobs, Hemlock won't get as many tax incentives either. Even help from the state won't come unless the company can find a way to do what they promised.

But even with such bleak news, Chavez says people shouldn't stress over a situation they simply can't control.

"It's a setback. It's frustrating, but we've got a job to do and make sure that one we're trying to help these families that are impacted by this. And then keep creating opportunities to grow our region," he said.

Past Stories

 

 

Email: aghassemi@newschannel5.com
Facebook: facebook.com/NC5AdamGhassemi
Twitter: twitter.com/NC5_AGhassemi

  • Local News HeadlinesLocal NewsMore>>

  • NC5 Investigates: Economic Incentives

    UAW Drops Appeal Of Volkswagen Vote

    UAW Drops Appeal Of Volkswagen Vote

    Monday, April 21 2014 8:04 AM EDT2014-04-21 12:04:11 GMT
    The United Auto Workers has dropped its appeal of the February vote that it lost to unionize workers at Volkswagen’s plant in Chattanooga, the UAW announced Monday morning.more>>
    The United Auto Workers has dropped its appeal of the February vote that it lost to unionize workers at Volkswagen’s plant in Chattanooga, the UAW announced Monday morning.more>>
  • After Bombs, Boston Marathon Under Tight Security

    After Bombs, Boston Marathon Under Tight Security

    Monday, April 21 2014 7:53 AM EDT2014-04-21 11:53:40 GMT
    One year after a pair of homemade pressure-cooker bombs killed three people and wounded more than 260 others, turning a day of athletic triumph into one of tragedy, the Boston Marathon returns to the streets on Monday. For the 118th edition of the world's oldest annual marathon, security along the course will be tighter than ever.more>>
    One year after a pair of homemade pressure-cooker bombs killed three people and wounded more than 260 others, turning a day of athletic triumph into one of tragedy, the Boston Marathon returns to the streets on Monday. For the 118th edition of the world's oldest annual marathon, security along the course will be tighter than ever.more>>
  • Man Charged With Stealing From Seniors' Apartments

    Man Charged With Stealing From Seniors' Apartments

    Monday, April 21 2014 7:04 AM EDT2014-04-21 11:04:04 GMT
    Jackson police have charged a contract painter with stealing more than $13,000 from apartments in a senior living community. The police department in Jackson said 30-year-old Stephen Bragg has been charged with theft and aggravated burglary.more>>
    Jackson police have charged a contract painter with stealing more than $13,000 from apartments in a senior living community. The police department in Jackson said 30-year-old Stephen Bragg has been charged with theft and aggravated burglary.more>>
Powered by WorldNow
Powered by WorldNow
All content © Copyright 2000 - 2014 NewsChannel 5 (WTVF-TV) and WorldNow. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.