Tennessee awards $14 million in business incentive grants – Tennessee

(The Center Square) – Tennessee will approve $14 million in incentives for businesses through its FastTrack program.

The Department of Economic and Community Development’s FastTrack grant program consists of state grants sent to businesses to help offset the costs of expanding or relocating to the state with the goal of increasing the number of full-time jobs and the average wages of jobs available in an area enlarge. .

Greenheck Fan Corp. will receive $6.5 million for a $300 million corporate campus in Knoxville, the company’s fourth campus.

Avancez will receive $3.3 million for its $54 million factory in the BlueOval City Supplier Park near the new Ford complex in Stanton.

Protomet is expected to receive $1.5 million for its Rockwood, Hankook & Co. manufacturing facility. will receive $1.5 million in Clarksville and Firestone Industrial Products is expected to receive a $205,000 incentive in Dyersburg.

The incentives will be approved by the Tennessee State Funding Board on Tuesday.

Greenheck is expected to hire 440 new employees at the new Knoxville facility, which will include manufacturing and warehousing facilities, as well as a corporate headquarters and dedicated space for training and research and development.

Greenheck produces industrial ventilation equipment, which can be found in schools, shopping centers, office spaces and industrial installations.

Avancez is expected to hire 501 new employees as a BlueOval supplier. The company specializes in complex modular assembly, sequencing and other supply chain activities for original automotive parts manufacturers.

Hankook Tire is expected to continue its expansion in Clarksville after receiving a $6 million expansion incentive in 2022.