MTSU economist: Nissan electric job projections optimistic
Posted on November 12, 2009 at 1:32 pmDavid Penn at MTSU’s Business & Economic Research Center says the study prepared to help Rutherford County officials justify $62 million in tax breaks for Nissan was a tad too upbeat.
“The analysis done on the multiplier assumes that other jobs that Nissan has stays the same,” said Penn, who is also an economics associate professor for MTSU. “These models they use assume that all sources are fully employed to begin with, but we clearly know that’s not the case right now. So that brings down the multiplier a lot.”
For its part, the accused at Younger Associates say they’ve got the government backing them up.
“The analysis is based on the U.S. Bureau of Economic Analysis multipliers. They are specific to Rutherford County and they are specific to the automotive industry. They are reflective of the past performance of automotive operations in Rutherford County.”
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Financial milestone for Rutherford utility
Posted on November 11, 2009 at 9:10 amStandard & Poor’s has given the Consolidated Utility District of Rutherford County its first-ever AAA rating.
This AAA/Stable rating was awarded as CUCRC prepared for the sale of $15 million in 20-year bonds. The proceeds will help to refinance the utility’s previous debt which was used to improve its system which serves almost 43,000 customers in Rutherford County. The bond monies will also be used to provide additional capital for ongoing projects.
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No hogs for Murfreesboro
Posted on November 5, 2009 at 7:54 am
Harley-Davidson officials have eliminated Murfreesboro and Shelbyville, Ind., from the short list of cities where it might move its 2,300-employee York, Pa., operations.
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Mexican chain headed for the ‘Boro
Posted on November 4, 2009 at 12:13 pmChuy’s, the Mexican restaurant concept run by former O’Charley’s president Steve Hislop, will open its second Nashville-area spot on Murfreesboro’s Northwest Broad Street next spring.
SEE ALSO: Former O’Charley’s exec on the move with new concept
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Gun maker takes aim at TDOT
Posted on October 30, 2009 at 10:39 am
Ronnie Barrett says state officials told him they were on board with his plans to expand and add 300 jobs just off I-24 in Rutherford County — until they weren’t and left him with a building he can’t get to.
“TDOT was very in favor of it. They said, ‘Yes, we like it. It’s an old farm fence out there. I think it’s going to be easy just to move the fence,’” said Barrett. “Now we have the inability to be able to win certain government contracts because our building’s not big enough.”
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Nissan’s electric project getting tax breaks
Posted on October 29, 2009 at 10:56 am
The Rutherford County Industrial Development Board will cut the auto maker $62 million worth of slack over 20 years in return for the more than 1,700 jobs expected to be created at its electric car and battery operations.
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Harley sets a timeline for ‘Boro decision
Posted on October 16, 2009 at 10:19 amExecutives at Harley-Davidson say they will likely choose what to do with their York, Pa., plant in December. Murfreesboro is in the running for the factory, which would bring with it some 2,000 jobs.
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Hopeful Harley noises from Pennsylvania
Posted on October 9, 2009 at 10:27 am
Harley-Davidson officials and union representatives say a plan to restructure the motorbike maker’s York, Pa., plant just might work. Murfreesboro is in the running for a new factory should it not.
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Murfreesboro in big bond issue
Posted on September 23, 2009 at 8:37 am
Rutherford County’s center of commerce has issued more than $120 million in debt that will mature from next year to 2026. The proceeds will go toward sewer and electric infrastructure projects as well as the city’s general fund.
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Pennsylvania budget woes could help Murfreesboro’s Harley push
Posted on September 15, 2009 at 12:18 pm
Pennsylvania state lawmakers have irked Gov. Ed Rendell by approving less than half of the economic development incentive money he had proposed. That, says the Keystone governor, won’t allow him to put together a package that will persuade Harley-Davidson to keep a 2,300-employee plant in the state. Murfreesboro is one of three other sites pitching to land the factory.
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Area water infrastructure projects land loans
Posted on September 4, 2009 at 7:07 amThe Tennessee Local Development Authority has approved $37 million in loans to various projects around the state. The money’s coming in part from federal stimulus programs. The Nashville area is getting the following:
Town of Smyrna (Rutherford County) –for green-treated wastewater reuse and new storage tank project. Total: $5,750,000. Loan: 20-year loan for $3,450,000. Interest Rate: 2.14 percent. Principal Forgiveness: $2,300,000.
City of White House (Robertson/Sumner Counties) – for construction of approximately 2,500 LF of gravity sewer lines, 2,500 LF of force main, 16 manholes, and a new duplex sewer lift station at Copes Crossing to replace the existing Tyree Springs sewer lift station. Total: $1,000,000. Loan: 20-year loan for $600,000. Interest Rate: 1.77 percent. Principal Forgiveness: $400,000.
Madison Suburban Utility District (Davidson County) – for green-water treatment plant improvements with sustainable practices for water and energy efficiency via the automation and integration of processes and equipment and the conversion from chlorine gas to liquid bleach. Total: $1,100,000. Loan: 20-year loan for $660,000. Interest Rate: 2.86 percent. Principal Forgiveness: $440,000.
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Murfreesboro has just two competitors remaining in Harley race
Posted on September 1, 2009 at 7:27 am
Harley-Davidson officials have told Kansas City’s economic developers their city is no longer being considered for the possible relocation of a 2,300-employee manufacturing plant. That leaves Murfreesboro and two Shelbyvilles.
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Ruby Tuesday must pay $10M in assault case
Posted on August 31, 2009 at 6:57 amA Rutherford County jury has ruled that the restaurant chain needs to pay more than $10 million to a customer who was attacked by a fellow patron after the latter had been served oodles of booze. Local attorney George Nolan of Leader Bulso Nolan & Burnstein helped represent plaintiff Dan Maddy, whose complaint is available here.
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Murfreesboro in the running for 2,000 Harley jobs
Posted on August 19, 2009 at 7:34 am
Harley-Davidson is scouting four cities — including Murfreesboro — as potential sites for its manufacturing facilities in near York, Pa., which employ about 2,300 people.
Klein said the visits are part of a two-path study in place, with one analyzing how to make the York County operations cost-effective where they are now, and another analyzing the best possible relocation opportunities.
Through the process, the four sites being visited this week came up for a number of reasons, but Klein did not get into specifics.
Jackson chamber chief coming to Rutherford
Posted on June 8, 2009 at 1:20 pmAfter seven years as head of the Jackson Area Chamber of Commerce, Paul Latture will move to Murfreesboro this summer.
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