NASHVILLE, Tenn. (AP) - The mayor of Nashville has proposed about $2.9 million in economic incentives for a health technology company’s planned expansion.
According to The Tennessean , Mayor Megan Barry’s incentive plan would support an expansion by Philips North America that could yield up to 815 new jobs in Nashville.
The company plans to hire in waves over the next two years, beginning with 250 employees by the end of June. The average salary is expected to be $60,000.
Barry’s plan would give the company $500 per job over the next seven years, an average of $407,500 a year if the all of the expected new jobs come to fruition.
Payments of the incentive would begin in 2019-20.
Philips plans to consolidate various operations in Tennessee, including customer service, finance, human resources and marketing.
Information from: The Tennessean, http://www.tennessean.com
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