State Could Give Cash to Prospective Companies

Corporations relocating to Tennessee could soon be eligible for cash instead of just state tax credits.

Governor Bill Haslam introduced 55 bills Tuesday as part of his legislative package. One gives the Department of Economic and Community Development more flexibility in how it deals out incentives, which are currently limited to things like tax breaks and job training.

“Cash grants are often more attractive to companies than tax credits so this is another asset to keep Tennessee competitive.”

Haslam says cash would only be used in “exceptional cases,” and adds that the recipient would still be held accountable for how the money gets spent.

The governor laid out his priorities for the General Assembly nearly a month and a half earlier than he did last year. He’s also proposing changes to civil service rules, cutting taxes on food and estates and loosening restrictions on how school districts pay their teachers.

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