Huntsville prepared for return on Remington investments
Officials call the millions Huntsville and Madison County are investing a bargain, even beyond the 2,000 jobs expected at Remington.
HUNTSVILLE, AL (WAFF) -
Before the Huntsville City Council Monday, economic development leaders unveiled "Project Traveler," the initiative to bring Remington Outdoor Company to town. It was the culmination of over a year of research, preparation, and commitment.
For incentives, the city will pay $9.5 million, Madison County pays $3 million, and the Regional Development Board pays $2 million. Most of the money will go to help Remington buy the old Chrysler campus. The State of Alabama pays $50 million.
Officials call it a bargain, even beyond the 2,000 jobs expected at Remington.
"The total number of induced employment, folks who work in retail, support services, is projected to be 3,460 additional jobs," said Huntsville/Madison County Chamber of Commerce member Chip Cherry.
"This is a diversity that goes toward private enterprise and not as much toward government contracting, so that is another added plus for this project," said Huntsville Mayor Tommy Battle.
For its part, Remington is promising to invest almost $111 million into the plant, pay out $105 million per year in payroll, and pay a combined $50 million per year in various taxes. The deal includes provisions that if Remington doesn't come through on its promises, it has to start paying millions of that incentive money back.
As for who gets jobs at the plant, the Alabama Industrial Development Team (AIDT) is already planning to get local workers ready.
"As soon as Remington is ready, we are ready to partner with AIDT and our local colleges and have job fairs," said Michelle Jordan, Director of Economic Development. "We want to make sure that everyone throughout the community knows how to apply for these jobs."
Shane Davis, Director of Planning, said that they will be working with Madison County and other contributing partners to get the word out about job applications and training as soon as it is feasible.
"Remington is a long-term player in the markets they're in," said attorney Rod Kanter. "They've been around longer than just about any company you can imagine."
"This is a very strong return on investment," said Cherry. "For the City of Huntsville and the region."
Athens and Limestone County also helped with the Remington project. Officials said they are contributing $1 million to the incentive package. Athens Mayor Ronnie Marks said, "When companies like this are looking at other locations, we have to work together on a regional scale to be competitive."
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