Franklin City Commission Hopes to Bring in New Industry

It was a unanimous decision, five to zero, the Franklin City Commission created what it calls a Tax Increment Financing district, more commonly known as TIF, to hopefully bring in new industries.

"The types of jobs that we're now recruiting are going to be high-tech jobs, and they should be paying 20-25 dollars an hour. People will likely want to be involved with securing those jobs," said Franklin Mayor Ronnie Clark.

It's for about 450 acres near exit 6 on I-65, and the city hopes they've set it up for recruiters to want to bring in the jobs.

"You have to make sure your infrastructure, an adequate location, and all the amenities that would go with that. That's what we have to make sure we have in place to be able to go out and firmly recruit good jobs to come into this community," said Franklin City Commissioner Wendell Stewart Sr.

The city will require any new industry to pay an extra one percent occupational tax on jobs on top of the one percent the city already requires.

"Allows the city to re-coop a one percent occupational tax that we will impose on a new industry. We will not impose this additional tax on existing industry in our industrial park," said Clark.

"That money is usually turned back into some form of an incentive to help maybe purchase more land, or to help infrastructures to be able to provide more opportunities for future growth. So, it usually works out real well, and no I don't really think it's a hindrance," said Stewart.

This was the second reading of the ordinance so, it is now official.

City officials could not say if any industry has already committed, but the Mayor did say they were in talks with some businesses.


WBKO.com is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, no links, share your knowledge, and please suggest removal of comments that violate these standards.

powered by Disqus
WBKO 2727 Russellville Road Bowling Green, KY 42101-3976 Phone: 270-781-1313 After Hours Hotline: 270-781-6397 Fax: 270-781-1814
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 188727611 - wbko.com/a?a=188727611
Gray Television, Inc.