SMYRNA, TN — A trio of Smyrna automotive suppliers will add 520 jobs in expansion plans totaling $142.4 million, the companies and the Rutherford County Industrial Development Board announced Wednesday.
Federal-Mogul will add 285 jobs, Topre America plans for 145 new jobs and Steel Technologies for 90. All three companies will receive some manner of tax incentives.
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The average pay for the jobs reported to the IDB is $32,000 for Federal-Mogul and Steel Technologies, about $15,000 less than Rutherford County's median income; Topre's jobs will pay $45,528.
Federal-Mogul is expanding operations with a $2.2 million investment at its facility in the South Park Warehouse development near the Almaville Road/Interstate 24 intersection. The company will receive a seven-year tax abatement on $84,445 of personal property, but is expected to generate $6.4 million in local tax revenue. The required ratio for an IDB abatement is $3 generated for every $1 abated; the ratio at Federal-Mogul is in the neighborhood of $75 to $1.
Topre received a seven-year, $2 million personal property tax abatement for its $101.5 million project which will add 40,000 square-feet to its existing facility. Construction is set to begin in July with a tentative opening in 2019.
Steel Technologies received a seven-year, $788,000 abatement for its expansion.
Image via Brian Snelson, used under Creative Commons
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