News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
The Overton County Industrial Development Board approved a tax abatement Friday for the American Stave Company’s barrel manufacturing facility planned for Rickman.
American Stave Attorney Madison Haynes said they are hoping to complete the facility by the end of the first quarter of 2025. Haynes said the company plans to hire eighty-five full-time employees from the local area by the end of 2026.
“It’s mostly manufacturing,” Haynes said. “So the large majority of them. Now from my understanding with my conversation with Tim (Sexton) yesterday was that the quality control people and the admin people will also be on-site. There may be, you know, this will fall probably under their corporate HR staff, those kinds of things, but this eighty-five is all on-site.”
The tax abatement involves the reduction in property tax in exchange for creating jobs. Haynes said American Stave Company Employee Tim Sexton told her that they will start by hiring enough workers to begin production and hire more administrative staff closer to the end of 2026.
Board Chairperson Shannon Cantrell said they will be allowing the company to use payment in lieu of taxes to abate their property taxes. Cantrell said they have a clawback provision in the agreement that will increasingly penalize the company if they have less than eighty-five employees in the future.
“So big picture, they don’t keep enough employees, then they have to start paying back some of the property taxes that we are abating for them,” Cantrell said.
Haynes said the company may also hire part-time positions in the future, but they would not count towards the eighty-five employees needed for the tax incentive.
Haynes said the company is excited to come to the area despite construction delays on the facility.
“It’s kind of like anything else these days,” Haynes said. “They’re committed to this project and excited to be in the community, and they wanted me to reiterate that to you all.”
Haynes said the company plans to use as many raw materials from local suppliers as they can and all of their full-time employees will be offered medical benefits.
