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HomeFrom the MayorTeam Tennessee Times – May 21, 2018

Team Tennessee Times – May 21, 2018

Major Expansion Announced at Kilgore Flares’ Hardeman County Facility

Tone and Hardeman County are due for a $40 million investment and 100 new jobs at the Kilgore Flares facility.
Gov. Bill Haslam and TNECD Commissioner Bob Rolfe last week joined Chemring Group to announce a $40 million investment at the defense contractor’s Kilgore Flares facility in Toone. Chemring will modernize and expand its operations and create approximately 100 jobs. Chemring’s investment is among the largest in Hardeman County in the past 30 years. Check out the video for a look at Tuesday’s event in Toone. More here on Chemring’s expansion.

Feds Approve Tennessee’s Opportunity Zones

Gov. Haslam and Commissioner Rolfe announced Friday that the U.S. Department of Treasury and the Internal Revenue Service (IRS) have approved Tennessee’s nomination of 176 Opportunity Zones. Created by 2017’s Tax Cuts and Jobs Act, the Qualified Opportunity Zone benefit is designed to encourage long-term investment in low-income communities.

The list and map of Tennessee’s approved Opportunity Zones can be found here. The approved zones are in 75 counties across Tennessee.

Charlie Brock to Step Down as LaunchTN CEO

Launch Tennessee CEO Charlie Brock will step down in October to return to the private sector. Brock has served in his role since 2013. During his time at the helm, LaunchTN has built a statewide network to offer mentorship and capital to entrepreneurs, and developed the 36|86 Entrepreneurship Festival into the Southeast’s premier entrepreneurship conference. Since 2013, early stage investment in Tennessee has doubled. Brock’s successor will be named at a future date.

Canadian Firm Picks Surgoinsville for U.S. HQs

RMC Advanced Technologies announced it will invest $7 million and create 54 jobs in Hawkins County. The subsidiary of Canada-based Sigma Industries Inc. will establish its U.S. headquarters in Surgoinsville, where the company will also produce composite components for various industries. Here’s more.

Bartlett Medical Device Maker Announces $10.5M Expansion

Engineered Medical Systems, a maker of medical devices and surgical instruments, announced Friday that it will invest $10.5 million to expand its HQ offices and production in Bartlett. EMS plans to create 40 jobs as part of the expansion. Here’s more on EMS’ expansion plans.

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