economic development Archives - Page 5 of 6 - Tennessee Coalition for Open Government

2 Nov, 2015

Haslam administration slow to share economic incentives for development deal

By Deborah Fisher|2015-11-02T10:25:55-06:00November 2, 2015|Categories: economic development|Tags: Advanced Munitions, Bill Haslam, economic development, Randy Boyd|0 Comments

Why is the Haslam administration so hush-hush on how much in economic incentive dollars it is giving to companies? In a case that Knoxville News Sentinel Editor Jack McElroy uses as an example in his Sunday column, Advanced Munitions International has already received the deed to 269 acres in Blount County for an ammo factory and headquarters. Governor Bill Haslam and his ECD commissioner, Randy Boyd, attended an event to announce that 605 new jobs would be created. But the Haslam administration wouldn't reveal what it's giving Advanced Munitions for those 605 jobs. The economic incentives or grants is likely in the millions. But paperwork not yet signed, check back later. When the [...]

7 Aug, 2015

New accounting standard to require governments to disclose cost of tax breaks

By Deborah Fisher|2020-11-19T12:24:13-06:00August 7, 2015|Categories: economic development|Tags: Chattanooga, economic development, economic development records, Helen Burns Sharp, Memphis, PILOTS, Shelby County|0 Comments

The Governmental Accounting Standards Board approved a new rule on Monday that requires governments to include in financial statements the value of tax abatements given to companies to spur economic development starting next year. "The results of external research ... suggest that tax abatements are an issue of concern among citizen groups, county board members, and municipal bond analysts, and that each group desires to receive information about the level of abatement activity and the results of the abatement programs," according to GASB. "However, the researchers found relatively few states (six) with statutes requiring any level of external reporting after tax abatements are granted. These findings indicate that there is an important information need that [...]

2 Apr, 2015

Judge denies open records lawsuit against Haslam

By Deborah Fisher|2015-04-02T07:00:09-05:00April 2, 2015|Categories: economic development, public records lawsuits Tennessee|Tags: Bill Haslam, Brett Carter, Chancellor Carol McCoy, open records, Revenue Commissioner Richard Roberts, tax records|0 Comments

By ERIK SCHELZIG, Associated Press A tax attorney who sued for the release of records from Gov. Bill Haslam's administration related to a $350,000 analysis of business tax collections in Tennessee said Tuesday that he likely will appeal a judge's denial of his open records lawsuit. Attorney Brett Carter had filed the lawsuit in chancery court alleging a "willful" violation of the Tennessee Open Records Act over the state finance and revenue departments' refusal to disclose details about how they decided to draft the Revenue Modernization Act that Haslam has proposed to lawmakers this year. But Chancellor Carol McCoy on Monday denied Carter's lawsuit after reviewing some of the requested materials [...]

13 Jan, 2015

TVA denies News Sentinel appeal to release incentives for auto-parts maker

By Deborah Fisher|2015-01-13T10:31:31-06:00January 13, 2015|Categories: economic development|Tags: economic development records, FOIA Exemption 5, Knoxville News Sentinel, public records, TVA, U.S. Rep. John J. Duncan Jr.|0 Comments

The Knoxville News Sentinel reports that TVA has rejected the newspaper's appeal to reveal the incentives given to a South Korean company to expand its auto-parts manufacturing plant in Clinton. The contract for the incentives is already signed, and the deal is done, but the government-owned utility said it would hurt its competitive advantage if it revealed how much money it gave SL Tennessee. Here is an excerpt from the story, written by reporter Bob Fowler, which can be found online at knoxnews.com. At issue is what types of lures TVA dangled before a South Korean company — SL Tennessee — in exchange for its announcement last summer that it [...]

3 Dec, 2014

News Sentinel: Congressman blasts TVA for refusing to disclose subsidies

By Deborah Fisher|2014-12-03T16:32:07-06:00December 3, 2014|Categories: economic development|Tags: Knoxville News Sentinel, TVA, U.S. Rep. John J. Duncan Jr.|0 Comments

TVA's refusal to release how much it gave a South Korean auto parts maker in economic subsidies to locate in Clinton, Tennessee, has drawn fire from a congressman. The Knoxville News Sentinel made a public records request under the Freedom of Information Act for TVA documents that would outline the economic incentives for SL Tennessee, but the government utility refused to release them, saying it would harm their competitive position with other utilities who also recruit industry. In a story posted on its website today, the News Sentinel quotes U.S. Rep. John J. Duncan Jr. questioning why TVA would keep the deal secret, and even the wisdom of the incentives themselves. [...]