published Thursday, March 8th, 2012

Ramsey balks on Haslam’s proposed changes to Tennessee's FastTrack grant program

NASHVILLE — Senate Speaker Ron Ramsey voiced unease Thursday with Gov. Bill Haslam’s plan to expand the list of items the state can reimburse companies for when negotiating over business relocations or expansions in Tennessee.

Ramsey told reporters he likes the state’s existing FastTrack program, which funnels money through local development boards or other local government entities, to help companies with infrastructure and job training programs.

Haslam has legislation keepts that but adds a third leg to FastTrack: It provides more flexibility to address additional needs officials say companies are telling them they’d like to see.

The list includes, but is not limited to, grants or loans for retrofitting, relocating or purchasing equipment, building repairs and improvements and temporary office space.

“On FastTrack money, I think we’re doing for businesses what they can’t do themselves,” Ramsey said. “If a new company’s coming in, we ought to put in the infrastructure. We need to build the roads. We need to put in the sewer lines. We need to make sure the gas line is there and the utilities.”

He said he agrees with Haslam’s effort to move away from tax credits and tax breaks in favor of more.

When reporters pointed out that Haslam’s legislation also would provide money directly to companies, Ramsey said, “I still like utilities and infrastructure better. We’re talking about that bill.”

Ramsey last year had expressed uneasiness after it was discovered then-Gov. Phil Bredesen had committed to giving Electrolux $100 million for construction and equipment on top of other incentives in exchange for the company building a plant in Memphis.

“I’m still concerned about that,” Ramsey said.

Asked if that meant he opposes the cash grant proposal, Ramsey replied, “I didn’t say that. I’m pretty good at coming real close” and then laughed.

Read more in tomorrow’s Times Free Press.

about Andy Sher...

Andy Sher is a Nashville-based staff writer covering Tennessee state government and politics for the Times Free Press. A Washington correspondent from 1999-2005 for the Times Free Press, Andy previously headed up state Capitol coverage for The Chattanooga Times, worked as a state Capitol reporter for The Nashville Banner and was a contributor to The Tennessee Journal, among other publications. Andy worked for 17 years at The Chattanooga Times covering police, health care, county government, ...

Other National Articles

videos »         

photos »         

e-edition »


Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.