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Fri, Jul 25, 2014

City Council approves FastTrack grant for Enovate Medical

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The City Council voted Thursday to seek a $2 million state FastTrack grant to help fund a project for Enovate Medical headquarters on Park Avenue, a corporate move that could generate up to 410 jobs over five years.

The funds, which will be passed through the city of Murfreesboro, will be used for relocation, building expansion, capital improvements and site improvements designed to support the company’s expansion here, according to the contract.
Enovate officials like the Murfreesboro location and agreed to invest $13 million here after merging with another company, Murfreesboro Mayor Tommy Bragg said.

“There’s always the opportunity for businesses here to go elsewhere,” Bragg noted.

The grant request, which is similar to those approved for Amazon Fulfillment, Schwan Cosmetics and NHK Seating, will not require the expenditure of city funds, though the city will put up the money and be reimbursed, according to a letter to the council from Shannon Bell-Logan, assistant to the city manager.

Enovate Medical manufactures mobile and wall-mounted clinical workstations for the health-care industry, and Inc. named it one of the nation’s fastest-growing companies in the last four years.

It will expand and relocate at its 1152 Park Ave. facility to consolidate operations in Michigan and Tennessee. The company projects employment of about 120 people at the beginning of the expansion project and the potential for more than 400 after five years, according to Bell-Logan’s letter.

The Tennessee Department of Economic and Community Development offers these grants to create jobs and investment, and Enovate Medical requested the city apply for the funds.

Enovate reportedly opted to expand here after consolidating operations at its facility in Canton, Mich., and 140 employees there were given the option to move to Tennessee. Corporate, research and development operations are expected to move here as well.

The company was considering sites outside of Tennessee until cooperation between the state, Rutherford County and Tennessee Valley Authority helped land the project, according to reports, according to economicdevelopmenthq.com.
The Rutherford County Industrial Development Board approved a 10-year $750,000 tax break for Enovate when the project was being referred to as “Project Hammer.” Enovate won’t pay any property taxes for five years. Taxes will go up in stages over the next five years until the company begins to pay the full amount.

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City Council, Enovate, FastTrack, grant, headquarters, Medical, Park Avenue
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