NASHVILLE, Tenn. (WKRN) – On Monday, Governor Bill Lee introduced two pieces of legislation that are going before the Tennessee General Assembly during this week’s special session.
“Tennessee’s investment in the Megasite will have a generational impact on all 95 counties and cement our place as the national leader in automotive manufacturing,” stated Gov. Lee in a release issued from his office.
SB 8002/HB 8002: Addresses the approval of appropriations to incentivize and complete the Ford Megasite. The bill would also provide the funding for infrastructure and improvements to support the regional growth around the project. In total, the bill offers $675,000 for the establishment of the megasite. That includes the following:
- Capital grant for Ford: $500 million
- Construction of infrastructure, demolition of structures, and all related work: $ 138,218,300
- Construction of TCAT at the initial Megasite property: $40 million
The bill details the Authority would be established and administratively attached to the Department of General Services and governed by a seven-member board of directors. The purpose of the authority would be to develop, operate, manage, incentivize, and promote Ford’s Blue Oval City property.
The special legislative session will commence on Monday afternoon and is slated to last three days.
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