By Sam Stockard, Tennessee Lookout
With some members calling it a “metamorphic moment” for West Tennessee, the Legislature approved a $900 million incentive package for Ford Motor Co. and, despite criticism, created a board with broad powers to oversee the project.
Wrapping up a special session, the Senate and House passed funding Wednesday for the campus dubbed Blue Oval City at the Memphis Regional Megasite as well as the megasite authority, on 27-3 votes and 90-3 votes respectively with two abstentions per chamber. Both chambers later concurred on the legislation, which will bring a $5.6 billion investment and 5,800 jobs to the state-owned 4,200-acre site in Haywood County, about 45 miles east of downtown Memphis.
Republican Sens. Mark Pody, Kerry Roberts and Janice Bowling and Republican Reps. Tim Rudd, Terri Lynn Weaver and Scott Cepicky voted against the project. Pody cited concerns with the megasite authority, but Roberts and Bowling declined to comment.
It represents a metamorphic moment. This is our crossing the Jordan.
– Sen. Page Walley, R-Bolivar, who carried legislation for creation of a megasite authority
Sen. Page Walley, a Bolivar Republican who carried the megasite authority legislation, pointed out the Ford deal will be the largest and “most environmentally-friendly project in the country” and will benefit people across his district, from Stanton to “Nutbush city limits.”
Lawmakers noted that people in the region have been ignored for too long but will have opportunities for high-paying jobs at Ford or its joint venture with South Korea-based SK Innovation to produce batteries for the F-150 pickup truck called Lightning.
“It represents a metamorphic moment,” said Walley, who later added, “This is our crossing the Jordan.”
The legislation sets aside $725,000 to create an 11-member megasite authority, which includes a chief executive officer and seat for the governor, who will be able to cast a vote.
The primary incentive provides a $500 million grant to Ford, which will be reimbursed when it submits invoices to the state for construction work at the site. In addition, the state will spend $200 million to construct an interchange at roads at the location, $138 million for water and wastewater treatment facilities, including a line to the Mississippi River, $40 million for a college of applied technology, $5 million for consulting for local governments and another $21 million for workforce training.
The $900 million is to be paid with part of the state’s $2.2 billion in surplus funds from the fiscal 2021, and supporters noted it would not cause a tax increase.
