A new study on the Volkswagen plant’s impact on the Chattanooga area shows it has fueled about 12,400 direct and indirect jobs.
Also, VW, its suppliers and related businesses are injecting payroll worth $643 million a year into the economy, said Dr. Bill Fox, who heads the University of Tennessee Center for Business and Economic Research.
“You hardly need for me to tell you how important VW is to the community,” said Fox today at the Mayors Industry Appreciation Breakfast.
Fox said that automotive production plants such as VW’s uniquely stimulate an economy.
He estimated that the average salary for VW’s 2,415 direct jobs is $66,000 a year.
“Then people spend money in grocery stores, then they buy houses,” Fox said. “The multiplier is much greater for automotive than any other industry.”
See more in Wednesday’s Times Free Press.
Mike Pare, the deputy Business editor at the Chattanooga Times Free Press, has worked at the paper for 27 years. In addition to editing, Mike also writes Business stories and covers Volkswagen, economic development and manufacturing in Chattanooga and the surrounding area. In the past he also has covered higher education. Mike, a native of Fort Lauderdale, Fla., received a bachelor’s degree in communications from Florida Atlantic University. he worked at the Rome News-Tribune before ...