News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
Crossville is in the running to be the new operating base for a company that creates technology for electronic vertical takeoff vehicles.
Whisper Aero produces fans for aircraft that use electric power to hover, take off and land. City Manager Greg Woods said in order for the move to take place, broadband access most be established.
“To make this deal happen, they need one gigabit up and one gigabit down broadband,” Woods said. “We have contacted Ben Lomond. They will cover 60 percent of the cost. We will need to cover $27,500.”
During Tuesday’s work session, Woods said the city has enough hotel motel tax revenue to cover the costs. Crossville-Cumberland County Chamber of Commerce President Ethan Hadley said the company could bring in 20-30 jobs to the city. Hadley said the investment is insignificant compared to the possibilities the company brings.
“The company will employ engineers to further the technology,” Hadley said. “Down the road there is the potential to have more investment. If it goes through Crossville, it will definitely involve our airport. So, huge upside.”
Hadley said the company expects to make a decision between Crossville and Reno, Nevada next month. Hadley said Ben Lomond can install the fiber internet in time to meet that deadline.
“The company initially filled out, but not completely, an application for incentives for the state,” Hadley said. “The sticking point was the proof of funding. They have resolved that now. They have four million out of seven and a half million for initial funding in the bank. They expect the other 3.5 to be in the bank in the next week.”
Hadley said once the broadband is installed, areas around Tennessee Avenue will also benefit from the internet upgrades. Whisper Aero is evaluated to be worth $20-25 million, according to Hadley.
Woods and Hadley are now in charge of preparing the information over the broadband funding to be presented for approval by the Crossville City Council.
