You may recall last year's announcement that an Arizona ammunition manufacturing commpany was relocating to Blount County and would invest $500 million in an R&D and manufacturing facility. The project would employ 600 workers, including scientists and engineers, with average salaries of $90K.
State and local officials fell all over themselves to provide incentives, and touted the significant economic impact the project would have in the region.
The company's website hasn't been updated with any news about the project since the big announcement last year. Yesterday we learned that the company was shut down by creditors, their assets seized, and the property padlocked. All 30 employees were laid off, including some who are stuck with medical bills because the company had stopped paying insurance premiums.
Today, the Maryville Daily Times has a report on the situation, including statements from company and local officials saying they plan to move forward with the project in Blount Co. There's some interesting info about a couple of pending lawsuits, too.
According to the Daily Times, one of the lawsuits filed by the company's former pesident claims fraud and breach of contract by the company, including a further allegation that it “did not have the financial ability, resources, or commitments to construct a several-hundred-million dollar manufacturing plant in Alcoa, Tennessee.”
Back when this was announced, I asked if state and local officials had done any due diligence on the company or their proposal. It only took me about 30 minutes on Google to conclude that the company and their claims were sketchy at best. Apparently, our state and local economic development officials don't have Google.
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