Rotarians learn about Industrial Development Board

By Charlotte Underwood

LAFOLLETTE, TN (WLAF)- Campbell County Industrial Development Board (IDB) Vice-Chairman Jay Willoughby addressed the Campbell County Rotary Club on Tuesday at the club’s weekly luncheon held at the LaFollette Methodist Church.

Willoughby spoke about the role the IDB plays in Campbell County and the purpose of industrial boards in the state, as well as some of the “exciting growth” Campbell County is experiencing with the establishment of the first “Campbell County Industrial Park.”

“Industrial Development Boards play a crucial role in Tennessee’s economic growth … the boards help attract and retain businesses, creating jobs, stimulating local economies,” Willoughby said.

He also explained briefly how “IDB’s work.”

“Industrial Development Boards acquire, own, lease, and dispose of properties to induce manufacturing, industrial and commercial enterprises to locate and remain in Tennessee enhancing employment opportunities,” Willoughby said.

He explained that IDB’s do this by offering financing incentives, such as tax-exempt industrial revenue bonds, payment in lieu of tax programs and tax increment finance programs to support business growth.

“These are the types of things we can do to recruit businesses, our tools are unlimited,” Willoughby said, adding that the Campbell County IDB has a payment in lieu of taxes program right now with Gold Creek Foods.

“We have a seven-year schedule with a declining amount of tax exemption that goes to a company to help them with their startup as they come into your locale to begin operation, until it comes out to zero and the county gets full benefit of the taxes from that company,” Willoughby said.

He spoke about the new Campbell County Industrial Park that is in the works after the recent acquisition of 232 acres.

At its recent meeting, the IDB board approved a resolution authorizing the execution of a purchase contract and deed of trust for 232 acres of Eagle Ridge Property from Mike Malicote and partners for future industrial sites. The IDB purchased the property for the nominal fee of $10.  In turn the industrial development board is applying for grants to develop it into “Campbell County’s first real Industrial Park.”

One of these grants being applied for is a $35 million Economic Development Agency Disaster Supplemental Funding grant. Funds will be used for infrastructure and site development at the new industrial park such as roads, water, sewer, and electric upgrades within the park. The upgrade will serve the existing Collins Industrial Park and the new Campbell County Industrial Park.

The 232 acres that will become the new industrial park touches the 195-acre Collins Industrial Park in Caryville.

According to Willoughby, United Rare Earths wants 106 acres of the new industrial park property. United Rare Earths has already invested around a million dollars in Caryville at the Collins Industrial Park.

According to Willoughby, the goal is to get grants to develop the property and once industry companies are ready to buy it and it’s agreed upon, the IDB will sell the land back to the original owners for a token amount, who will then handle the sale to the industrial companies.

“It’s a strategy that seems to be going to work pretty well, we have the application in for the infrastructure grant … we hope, if we don’t get the full $35 million, to at least get a good portion of it. And it’s a grant, not a loan and that investment will be there for 40 years to come once we get it. It will also allow that infrastructure for Mr. Malicote and his partners to be able to expand and economically develop with condos and some of the things they are wanting to do and gives them the infrastructure nearby that they can tap into, so it will help them, as well as the county,” Willoughby said.

He went over a brief history of the industrial development board, explaining that for a little while, the board “pretty much went away” from around 2000 until 2019.

“In 2019, Jeff Marlow called me and there was a potential project going on there were some grants out there that the state economic community development had that they needed to get to support that project and it had to go through the industrial development board. So, some of us came together, (County Attorney) Joe Coker helped us and we reinstituted that board basically, brought in some members of the community that were interested in seeing growth in Campbell County and we received that grant and distributed it out to that company,” Willoughby said, explaining that was how the board got started up again.

The Campbell County Industrial Development Board consists of nine members. Mike Freeman is the current chairman of the board, while Willoughby is vice chairman. The board is made up of business leaders; elected officials are not permitted to serve on the board.

“We serve six-year terms and are appointed by the county commission, nominated by the county mayor. You can renew your position if the commission so desires. We have a good solid board. We have an attorney, we have a lot of people in management, people that have their own private businesses, we have people who are in the health care industry, we have a broad representation with our nine members. I am really proud to serve on that board, everybody there is looking out for the needs of the community.” Willoughby said. (WLAF NEWS PUBLISHED-01/21/2026-6AM)