Dialysis company locating factory in Knox County

German dialysis company locating factory in Knox County, bringing over 600 jobs

Posted:
The proposed site for the factory is the former Panasonic building at Forks of the River Industrial Park. The proposed site for the factory is the former Panasonic building at Forks of the River Industrial Park.

By ALEXIS ZOTOS
6 News Reporter

KNOXVILLE (WATE) - A German manufacturing company is looking to build a factory in Knox County with the plan to create more than 600 jobs.

The Knox County industrial development board approved a tax incentive Monday afternoon to bring Fresenius Manufacturing, a company that specializes in dialysis, to the area. It's expected to be a $140 million investment.

The proposed site for the factory is the former Panasonic building at Forks of the River Industrial Park.

The board approved an eight-year tax incentive worth nearly $3.9 million.

Mayor Tim Burchett says this is the largest single investment for the city in a decade.

"It means what we said all along, Knox County is a good place to do business. They like our low tax rate. They like that we're a right-to-work state. They come here to do business, and were here for them," said Mayor Burchett.

The facility would bring 665 new jobs to the area and hope to start moving here in September.

Because it is a medical facility, Fresenius needs FDA approval, which takes about a year. The hope is to be operational by late 2015.

Fresenius says it will begin hiring in different phases. Toward the middle of 2014, it will begin hiring for support jobs, such as engineering facilities management, and in the fourth quarter of 2015, it plans to begin hiring for other positions such as supervisors, technicians, production line workers and maintenance.

Job opportunities will be posted on the Fresenius Medical Care website.

The industrial development board also approved a tax incentive for a $43 million expansion of WS Packaging that will bring 231 jobs to the area.

Powered by WorldNow

1306 N. Broadway NE Knoxville,
Tennessee 37917

Telephone: 865.637.NEWS(6397)
Fax: 865.525.4091
Email: newsroom@wate.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Young Broadcasting of Knoxville, Inc. A Media General Company.