The State Building Commission signed off Thursday on $346.2 million in state taxpayer funding to help build two large industrial plants in Clarksville and Cleveland, Tenn., plus $7 million for the Port of Cates Landing on the Mississippi River in Lake County.
Richard Locker wrote the report:
The $245.9 million in total state funding for the $1.2 billion Hemlock Semiconductor plant in Clarksville and $100.3 million for the $1.1 billion Wacker Chemie polysilicon production plant in Cleveland — plus a previously approved $100 million for a new Electrolux plant in Memphis — represent the first time state government has spent money on the actual construction and equipping of plants.
The projects, previously approved by the legislature, include a combination of current tax revenue and state bonds, to be repaid by general taxpayer revenue.
The new $26.2 million Cates Landing river port under construction near Tiptonville is funded by the $7 million from the state, $13 million from the federal government and $6.2 million in local funds.