Wlaf1450LAFOLLETTE, TN (WLAF) – The Campbell County Industrial Board met last night at the LUB offices with one item on the agenda, the scoring of Gold Creek Foods application for the PILOT (payment in lieu of taxes) program.
The application was scored in five areas, job creation, wages, capital investment, location, and residency. The plant plans to hire 218 jobs initially with 50 additional jobs in the next two years. Average wages for the area are $24,212 annually. Gold Creek Foods annual wage is $44,000.
The capital investment for the company is projected to be $18 million by the end of 2023. After scoring the application, it was determined the company met the criteria for the PILOT program. The company qualified for seven years of the PILOT program with a graduated property tax payment. For the first two years, the company will not pay property taxes. Beginning with year three, a graduated scale will start with an increase each year until year eight when the company starts to pay full property taxes.
The next step in the process is a contract containing a $1,000 application fee. The contract will be written by Campbell County Industrial Board Attorney Mark Mammatov for the company to transfer ownership of the business to the board to receive the tax break.
Gold Creek Foods will host a job fair at two locations on Tue., Nov. 29, at the Roane State Campus in LaFollette from 3 pm to 6 pm and the Career Center in Jacksboro from 8 am to 4 pm.
A ribbon cutting will be held at Gold Creek Foods on Tue., Dec. 6 at 4 pm. (WLAF NEWS PUBLISHED – 11/16/2022-6AM)