TOP PHOTO: County Mayor Jack Lynch, JECDB Chair Jay Willoughby and LUB General Manager and JECDB Treasurer Kenny Baird hold a map showing the additional 237 acres of property that will be added to the industrial park.

By Charlotte Underwood

LAFOLLETTE, TN (WLAF) – The Joint Economic Community Development Board met Thursday evening and briefly discussed the addition of 237 acres to the county’s Industrial Development Park, along with the probability that United Rare Earths will wish to acquire 106 of those acres for the second phase of its operations.

There was a “great need” for additional industrial property in the county to accommodate the expected influx of businesses that United Rare Earth will bring, according to JECDB Chair Jay Willoughby.

“At our last meeting Mike Malicoat was here and he so generously is allowing us to acquire 237 acres of his property for a token fee. As its developed and sold, the board will transfer that back to him and it will go back on the county’s taxes,” Willoughby said. The 237 acres sits next to the Hershal Collins Industrial Park in Caryville and has multiple sites that would be good for industrial development, according to Willoughby.

“This acreage is 15 percent larger than the original industrial park,” Willoughby said.

An environmental impact study has been underway as was a survey on the new industrial site. Both are in the rough draft form, but once they are official, the transfer of the deed of the property to the industrial development board can move forward.

“Out of 238 acres, we believe United Rare Earths wants 106 acres for their second phase,” Willoughby said. According to Willoughby, Once the deed has been transferred ownership to the Industrial Development Board, the IDB is going to write a letter to United Rare Earths giving them the option to obtain the property for the second phase of their operations. 

“But we are going to retain ownership so we can apply for Industrial grants. If we can get money to get utility and infrastructure back there, then that opens up the other hundred and something acres to be developed,” Willoughby said.

He also reported the hope was for construction to start by fall on United Rare Earths phase one, which is a magnet recycling facility and is supposed to provide around 80 jobs.

United Rare Earths Second phase is a 250,000 square foot facility for refining and will employ around 400 people. Phase three is a laboratory and technology center that will handle science and research.

“This is so important to our county,” Willoughby said.

Also approved Thursday evening by the JECDB was an additional $5,000 to go towards the environmental impact study that was done on the property. The original scope of the survey was for less acres, but the scope of the survey grew to 238 acres, which is why the increase in cost.

The next JECDB meeting is Thu., Aug. 8, at 6 pm, at LUB. (WLAF NEWS PUBLISHED – 05/10/2024-6AM)

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