Cookeville IDB Letting Attorneys Work Out Proposal With Ficosa

Ficosa formally asked for some sort of tax relief from the company’s payment-in-lieu-of-taxes agreement Thursday.

The Cookeville Industrial Development Board met in a special-called meeting Thursday to discuss the plant’s request to revisit the 2016 contract.

Board Member Allen Ray said the company wants relief based on not meeting its agreed-upon goal of 900 employees. Ficosa is about 300 workers short of the benchmark. The company claims COVID impacted its hiring, so it should not be punished for not meeting the goal.

Allen said the board took no action and awaits a formal proposal drafted by attorneys.