A company that provides services to the nuclear industry and is headquartered in Kennewick, Wash., plans to expand into Oak Ridge and add more than 100 jobs during the next three years.
Babcock Services Inc. intends to purchase 2.5 acres at Heritage Center in west Oak Ridge at the former K-25 site and construct a 13,300-square-foot building. The property will be used to manage, recover, and refurbish radioactively contaminated components from commercial nuclear power plants.
The estimated 114 new jobs created during the next three years could pay an average wage of $66,000 plus benefits, according to a project briefing distributed to Oak Ridge Industrial Development Board members.
BSI could invest close to $4 million in the project during the next three years.
On Monday, the IDB agreed to sponsor an application for a state FastTrack Infrastructure Grant on behalf of BSI. BSI would contribute a local match if the grant is approved.
“The IDB will not be contributing money,” said Kathy Barber, Oak Ridge Economic Partnership project manager. “They are simply sponsoring the grant.”
If approved, the grant of approximately $240,000 would be used to offset some infrastructure costs for the project, including for water and sewer system work.
The East Tennessee Development District will submit the application and administer the grant, and the Oak Ridge Economic Partnership will manage the grant process.
Headquartered near the Hanford nuclear site in Washington, BSI has requested an option to purchase an additional three acres at Heritage Center for future expansions. The company projects that a total of 154 new jobs could be created during the next five years and more than $4 million invested.