Tennessee considering $900M Ford incentive package
By KIMBERLEE KRUESI and JONATHAN MATTISE
NASHVILLE, Tenn. (AP) – Tennessee is poised to spend approximately $900 million of its tax revenues on incentives, infrastructure projects and more under an agreement with Ford Motor Co.
The sweeping spending package must be approved by the Republican-led General Assembly, which began that work Monday.
The special legislative session was called by Republican Gov. Bill Lee.
Ford and South Korean battery maker SK Innovation announced last month that it would spend $5.6 billion to build a factory to produce electric F-Series pickups.
Lee has since said Tennessee offered $500 million in incentives to help secure the project. This week, the state unveiled plans to spend hundreds of millions of more.
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