Tag: Chamber of Commerce

Nashville-based developer Ramston Capital will invest between $70-80 million to construct the first mixed-use residential development project in Pellissippi Place, a research and technology-based park, located off Old Knoxville Highway and Pellissippi Parkway in Alcoa, Tenn., the Industrial Development Board of Blount County and the cities of Alcoa and Maryville (IDB) announced today.

“This is a tremendous step in the development of Pellissippi Place which is a collaborative effort of the cities of Alcoa and Maryville, Blount County, and Knox County,” said IDB chair Matt Murray. “These four entities worked together to achieve this special component and it will certainly lead to further development in the park.”

The four-story urban product is projected to be completed in early 2024. The development includes residential living space, retail shops, and restaurants. The design ties into the overall concept of the park which furnishes a place where professionals can live and work while providing nearby access to the Blount County greenway and the Great Smoky Mountains National Park for leisure activities.

Visit www.PellissippiPlace.com for more information about the park.

People who are 23 years old are now eligible for the Tennessee Reconnect scholarship if they have not previously earned a college degree. This is regardless of their dependency status on federal income tax forms. 

Similar to Tennessee Promise for college freshmen who are coming straight to higher education from high school, Tennessee Reconnect is a last-dollar scholarship that covers tuition for adult learners after all state and federal financial aid has been applied. 

“This is wonderful news for our students,” said Leigh Anne Touzeau, assistant vice president for Enrollment Services at Pellissippi State Community College. “Now students who are eager to get started back don’t have to wait until they are 24 – they can get started a whole year sooner.” 

The age change from 24 to 23 years old was part of the HOPE Expansion Bill signed by Tennessee Gov. Bill Lee on June 1. The bill also increases the amount students at two-year institutions receive from the HOPE scholarship to $1,600 per semester. 

Lee also signed House Bill 2436/Senate Bill 2631 into law June 1, allowing students who graduate from high school early to be eligible for Tennessee Promise. 

The deadline to apply to Pellissippi State for fall 2022 is Aug. 9. Students who already have applied and been accepted should register now to get the classes they need to move forward on their educational path. Aug. 15 is the deadline for students to confirm their schedules in myPellissippi and pay their fees. Fall classes start Aug. 22. 

Consultant Connect, a consulting agency designed to bridge the gap between economic developers and site consultants, announced that Bryan Daniels, president/CEO of the Blount Partnership, was named among North America’s Top 50 Economic Developers of 2022.

The economic development professionals selected for the Consultant Connect North America’s Top 50 Economic Developers of 2022 list were nominated by their colleagues in the economic development industry and the site consultant community for excellent practices, innovation and success in building the communities they serve.

“Releasing the Top 50 list is one of Consultant Connect’s favorite times of the year because we are so passionate about recognizing economic development leaders’ transformative work,” said Carla Sones, managing director of Consultant Connect. “This year’s group faced hurdles unlike any other Top 50 group has seen over the past year, and we are honored to provide a platform for them to be recognized for the passionate commitment they’ve made to their communities.”

“My job, my role, why I was hired, was to be … It was to be a catalyst,” Daniels said. “That was the exact word that was used. To be a catalyst in the community to create more opportunities for folks here.”

The Tennessee Entertainment Commission (TEC), in partnership with the Tennessee Department of Revenue and Department of Economic and Community Development, announced today a new franchise and excise (F&E) tax credit program aimed to advance Tennessee’s entertainment industry by promoting job creation and economic development.

Companies approved as a qualified production can apply for a tax credit generated through resident and non-resident Tennessee payroll expenses and apply for a point of purchase sales tax exemption certificate on non-payroll expenses. Qualified productions include scripted and unscripted television, feature films, video game development, animation, commercials and audio/visual postproduction.

“Tennessee is home to one of the most robust entertainment industries in the world, and we strive to provide the resources needed for our state to build upon this momentum,” TNECD Commissioner Bob Rolfe said. “We are proud to partner with the Department of Revenue and Tennessee Entertainment Commission and look forward to seeing how this new program will further strengthen our state’s entertainment footprint while creating additional jobs for Tennesseans.”

The F&E tax credit is generated by Tennessee payroll expenditures for all above-the-line and below-the-line talent services being performed in the state on a qualified production. The standard credit generates up to 40 percent on resident and non-resident payroll expenses, with a 10 percent uplift on payroll expenses for Tennesseans living in economically distressed areas.

“We appreciate the opportunity to work with the Tennessee Entertainment Commission, the Tennessee Department of Economic and Community Development, and the entertainment industry to make this incentive a success,” Revenue Commissioner David Gerregano said. “Through this collaboration, we are happy to support the continued growth of Tennessee’s entertainment industry.”

In addition to the tax credit, the program offers a point of purchase sales and use tax exemption on qualified goods and services providing an immediate and usable benefit to the taxpayer. This point of purchase sales tax exemption generates a savings of 9.25 percent to 9.75 percent on all taxable goods or services and tangible personal property necessary to the qualified production.

The program creates a sustainable model for the industry, encouraging musicians, professional filmmakers, television producers and video game developers to create and share their craft. The F&E tax credit program will also help market the state while supporting the talented professionals in the entertainment industry.

“Incentives play a pivotal role in the development of talent, workforce and infrastructure in the entertainment industry,” TEC Executive Director Bob Raines said. “The Tennessee Entertainment Commission continues to work toward dedicated and intentional strategies that reinforce and retain our creative class.”

TEC promotes and facilitates economic development of the entertainment industry through the recruitment of business to Tennessee. Since 2017, TEC has assisted more than 1,100 production projects, and nearly 10,000 Tennessee workers have been hired as a result of these projects.

To learn more about the new F&E tax credit program, visit tnentertainment.com/film/incentives/fe-incentive.