Remington jobs and economic impact a 10-year ride - WAFF-TV: News, Weather and Sports for Huntsville, AL

Remington jobs and economic impact a 10-year ride

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The promised 2,000 jobs by Remington will not come right away. The promised 2,000 jobs by Remington will not come right away.
HUNTSVILLE, AL (WAFF) -

The nearly 2,000 jobs promised by theRemington Outdoor Company as part of their expansion into Huntsville will notbe coming all at once.

There is a misconception that Huntsville willsee a massive surge in jobs right away. In fact, itwill take ten years before Remington brings in those promised 2,000positions.

It will take four years before even half ofthe promised jobs are created. Remington does have incentive to fill those jobs– Huntsville is giving the company $9.5 million; $3 million will be coming fromMadison County. Other surrounding counties, making up what is called theIndustrial Development Board, are contributing about $2 million, for a total of$14.5 million in incentive commitments.

If Remington does not live up to theirpromise, there will be financial consequences. Every year Remington falls short,they agreed to give $1.25 million back to the city.

The city said the money spent is worth thewait for jobs. Between increased property tax, sales taxes and other revenues,the company is set to have a financial impact of over $50 million per year.

You can see the full version of the city's projectpresentation here (PDF).

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