PPG to receive $1.25M FastTrack incentive for new Loudon facility
(The Center Square) – Tennessee plans to give PPG Industries $1.25 million in incentives for its new Loudon County facility.
PPG has announced plans for a $225 million paint and coatings manufacturing facility in Loudon and says it will create 129 new jobs at the facility. The company had $18 billion in reported sales in 2023.
The new facility is expected to be more than 250,000 square feet with warehousing space as well as paint and coatings production.
The FastTrack grant is expected to be approved at the Tennessee State Funding Board’s Monday meeting.
The Department of Economic and Community Development’s FastTrack grant program are state grants sent to companies to help offset the costs of expanding or moving into the state with the goal of increasing the number of full-time jobs and the average wages of jobs available in an area.
Economists question the effectiveness of financial incentives to private businesses to expand or come to a new state.
