Volkswagen gets one step closer to choosing its new plant location. VW officials met today in Germany, but put off that decision until next week. Now it seems to come down to who offers the best incentives... Michigan is still raising money, and Alabama's land is cheaper than ours. But Chattanooga has easy access to interstates and rail lines.
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UTC Economics Professor Bruce Hutchinson says, "It's somewhat like buying a car, where you're trading in another car. Just because somebody gives you a really high price on your trade in doesn't mean the bottom line is the best deal for you."
So far...Chattanooga and Hamilton County have invested nearly $10 million in the Enterprise South property.
Meanwhile, www.southernautocorridor.com [2] sites more than one source saying Volkswagen has been thinking about two separate plants all along...one likely here in Chattanooga and the other in Huntsville.As the possibility looks more certain the excitement mounts.
It's news that makes Chattanoogans think more people may be living the good life here soon. Ginger Taylor, Chattanooga Resident, "I think it would help out the economy here in Chattanooga." It's looking more and more certain that Chattanooga will get a Volkswagen's engine plant while Huntsville gets the main plant. Wright, "Anything that would help get more jobs in this area would do wonderful for the area. I'm excited about it myself." Mabry says that excitement alone pays off. Action that she says would ignite Chattanooga's economy starting with the housing market. We caught up with her as she showed one of 25 houses for sale on Lookout Mountain right now. She says the new plant is just what we need to get things moving in the right direction. Mabry adds the trickle down effect would boost commercial real estate, increase construction and raise the sale of housing related goods. She says even tourism would benefit from folks coming in to build the plant.
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