NASHVILLE, Tenn. (WTVF) — Tennessee has approved a $30 million grant for Starbucks to build a new corporate headquarters in downtown Nashville. The move is provoking backlash from grassroots organizers who say taxpayer money should not subsidize a large corporation.
The Tennessee state funding board approved the grant Wednesday. The money will help Starbucks build a new corporate headquarters at the Peabody Union in downtown Nashville, offsetting expenses like building expansion and improvements. In return, Starbucks is pledging a $100 million investment and plans to create 2,000 new jobs in the coming years. The commissioner of the Tennessee Department of Economic and Community Development, Stuart McWhorter, say the average salary for those positions will be $125,000.
"This project helps attract more business, real estate activity and innovation to the region," McWhorter said.
But some grassroots organizers are pushing back against the deal, arguing small businesses are already struggling to keep their doors open because of skyrocketing property taxes. "If Tennessee is already one of the best places to do business, why are taxpayers being asked to subsidize one of the largest corporations in the world? A corporation, by the way, that is cutting jobs and closing stores," one critic said.
State officials say they will hold Starbucks accountable for delivering those high-paying jobs. If the company does not live up to the agreement, the state plans to claw back the incentive money.
Do you have more information about this story? You can email me at Tony.Sloan@newschannel5.com.
As we honor those who have served our country and made the ultimate sacrifice, it is also heartening to see the military right a wrong. Chris Davis brings us the moving story of a Purple Heart ceremony two decades in the making. It's worth a watch.
A heartfelt thanks to all who bravely serve.
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