A look at new tax incentives
Some examples of corporate investment in Tennessee and how they may be affected by the new tax incentives:
? BlueCross BlueShield of Tennessee has announced its new Chattanooga headquarters project will cost nearly $300 million ? up from previous estimates of $226 million. That would put the insurance company over the $250 million tax incentive mark as long as the company also creates 250 new jobs.
? Colgate-Palmolive Co.’s new toothpaste factory Morristown is expected to create 220 jobs, but the $55 million investment falls short of the $100 million threshold.
? Dell Inc. is adding up to 1,000 new jobs in Tennessee as it expands customer service operations, but the computer maker has not said how much its expansion will cost.
? Auto parts supplier Denso Corp.’s $185 million, 500-job expansion of its Maryville assembly operation could qualify under the $100 million level tax break.
? International Paper Co., the world’s largest paper maker, is expected to complete its move from Stamford, Conn., to Memphis by Saturday. But the move involves only about 100 executive-level jobs, about 3,000 people already work for IP in Memphis so it’s unclear whether it will require the necessary $100 million investment to take advantage of the new credit
