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Chattanooga's council lets the mayor settle with Nippon Paint over unmet goals
Nippon Paint is well short of its promised investment and jobs
| Promised | Measure | So far |
|---|---|---|
| $60 million | Investment | $52 million |
| 150 | Jobs | 30 |
Source: WTVC
The Chattanooga City Council voted Tuesday to let the mayor's office negotiate and sign a settlement with Nippon Paint Automotive America over unmet goals tied to the city's clawback effort. The city says the company promised to invest $60 million and create 150 jobs by 2027.
Under the deal, Nippon would pay the city about $1.16 million and return 10 of the roughly 29 acres the city donated for its plant. In exchange, the city would release the company from its remaining obligations.
- Earlier Tuesday's tentative payment: $1,057,600
- City's cost to move a sewage line and build Hardy Street Extension: $4 million
- Council ask: a say in how the money helps the neighborhood
Nippon would give back 10 of the 29 acres the city donated
Sources: Chattanooga Times Free Press, Chattanoogan.com Breaking News
View as table
| Amount | Share | |
|---|---|---|
| Returned to the city | 10 | 34.5% |
| Nippon keeps | 19 | 65.5% |
Councilwoman Marvene Noel, in whose District 8 the plant sits, made the motion to approve. Councilman Ron Elliott called the earlier figure “almost a drop in the bucket,” while the mayor's chief of staff, Kevin Roig, said, “I don't think we ought to be overly punitive.”
