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In Greene County, Tennessee, the County Commission has approved a resolution granting Artazn, a zinc manufacturing company, the first right of refusal on a valuable 50-acre property. This decision marks a significant step toward potential economic growth in the area.
Artazn, previously known for producing the copper flats used in U.S. pennies until their discontinuation last November, is now shifting its focus. The company aims to expand its operations internationally by manufacturing coins for countries like Ukraine and Canada. To support this expansion, Artazn is considering the acquisition of additional space and has set its sights on the county-owned property, which boasts the necessary infrastructure.
The decision by the Greene County Commission underscores the community’s commitment to economic development. Greene County Mayor Kevin Morrison expressed optimism about the potential benefits of Artazn’s expansion. “We see a great opportunity to bring jobs and significant industry to our town,” Morrison said. “This investment could help maintain low residential tax rates while fostering economic growth.” The mayor emphasized that securing a first right of refusal on the property could be instrumental in accommodating this transformative project within the county.
The manufacturer is eyeing the 50-acre county-owned property that already has the infrastructure it needs.
“We in the commission saw the great benefit in the investment to bring jobs and to bring significant industry into our town to help keep our residential tax rate low,” said Greene County Mayor Kevin Morrison. “(Artazn) is very close to completing that project, and we want to make sure that we have, at least perhaps on a first rate of refusal, a place to put that transformational project here in Greene County.”
Artazn was granted first refusal due to its close business relationship with the county.
While ownership is not guaranteed, the county will communicate with Artazn if a bid on the property is made. From there, Artazn can either match or exceed the bid or refuse the purchase.
Morrison said, after the penny was discontinued, governments on all levels brainstormed how to redirect Artazn’s manufacturing.
“We as a community team went to work immediately with our state legislative and federal delegation partners to find alternatives,” he said. “Along with their in-house work that they’ve done a brilliant job with to continue to be a premier manufacturer here and contribute significantly to our economic base, and this is just a continuation of that, hopefully.”
Artazn has been a longtime employer and revenue generator for Greene County.
Morrison said this proposal allows the county to continue to invest in a future with the manufacturer.
“Artazn has been a premier manufacturer here for decades,” he said. “We want to keep them here. We want to continue to secure opportunities for our young people that are born and raised here. The people that come here that want jobs, so it’s an investment, really, than it is an overall oversight of revenue.”
If given an offer to bid by the county, Aratzn will have 90 days to respond before the offer is off the table.