City council to increase transparency in economic incentives
NASHVILLE, Tenn. (AP) — Companies will have to disclose more information to secure future incentives from one Tennessee city, as part of the local government’s bid to strengthen the transparency of economic development deals.
The Tennessean reports Nashville’s Metropolitan Council passed an ordinance to that end on Tuesday by voice vote. Companies applying for incentives in Nashville will have to disclose how many Davidson County residents they plan to hire, anticipated wages, health and safety violations and wage-related lawsuits against the company or contractors on the relevant project, among other details.
The ordinance was backed by area unions, represented by the Central Labor Council of Nashville and Middle Tennessee. It was opposed by the Nashville Area Chamber of Commerce and other business groups, who expressed concerns about having to disclose practices and contractor information.
Information from: The Tennessean, http://www.tennessean.com