By Shannon McFarlin News Director
Paris, Tenn.—The city of Paris Industrial Development Board unanimously approved a 10-year $7.5M PILOT agreement for Eurotranciatura which will mean the addition of new jobs at the manufacturing plant.
The Euro plant is located in the former Tecumseh location on Hwy. 54 in Paris. The Italy-based steel lamination company has been expanding its facility and distribution center. The Paris plant supplies the U.S. market for brand name companies such as Black & Decker, Stanley, Franklin Electric and more.
PILOT is an acronym for Payment In Lieu Of Taxes.
Attorney Scott Haight explained to the board that Euro plans to renovate buildings and purchase more equipment.
Economic Development Director Rob Goad said Euro officials said the have picked up more contracts and will be adding as many as 60 new jobs.
Board Chairman Troy Buttrey said, “It’s a great thing that they’re investing and adding jobs.”
Photo: Attorney Scott Haight, right, presents information to the IDB Board. (Shannon McFarlin photo).
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