City & County settle Alstom Power PILOT bill

CHATTANOOGA (WDEF) – The City of Chattanooga and Hamilton County have reached agreement with GE to solve an ongoing dispute over the 2008 PILOT agreement for Alstom Power.

The Alstom Power company got tax breaks in 2008 from local governments in exchange for future investment and job creation at their plant.

They fulfilled the investment, but fell short of the promised 300 jobs mandated in the deal.

In 2015, GE bought out Alstom Power.

Under the new deal, GE will pay back six million dollars to the city and county.

Hamilton County Mayor Jim Coppinger says “We are pleased to have resolution with GE on this matter.”

“Time, effort, and money that could have been spent in litigation will now be focused on developing the Alstom/GE site for future businesses.”

Chattanooga Mayor Andy Berke adds “This is a huge win, not only because of the very real dollars that help the city and county provide vital services, but for the reforms we made over two years ago, in large part due to this 2008 Alstom PILOT, which added more accountability to all PILOT agreements moving forward.”