Tennessee collected $8.2 million in taxes on $445.2 million of gross wagers in October, an increase in both categories from a year before.
In October 2022, $7 million was collected on $405 million of gross wagers.
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Sinova Silicon is set to receive a second incentive for its silicon metal plant in Tiptonville if it is approved at next week’s State Funding Board meeting.
Sinova was awarded a $2.2 million incentive in December 2021 for its $150 million investment to build a new plant, which broke ground Oct. 17. Now the funding board is scheduled to approve a $6.5 million FastTrack incentive grant for the Lake County site.
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Thursday morning on The Tennessee Star Report, host Leahy welcomed all-star panelist Clint Brewer in studio to explain the State Funding Board’s role and reasons for the new business swell to Tennessee.
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A state board on Tuesday approved a $35 million jobs training grant to encourage General Motors to retain workers at its Spring Hill plant as the company looks to invest approximately $2 billion to produce electric vehicles, including the Cadillac LYRIQ.
The State Funding Board approved the FastTrack Job Training Assistance Grant. More information is available here.
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