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CVMR still hopes to build $300M metal refinery, but R&D center on hold

Posted at 3:41 pm December 4, 2015
By John Huotari 8 Comments

Michael Hargett and Kamran Khoza of CVMR USA

CVMR President Michael Hargett, left, and Kamran Khozan, chairman and chief executive officer, joined local, state, and federal officials on Friday, March 13, 2015, to announce they’re moving company headquarters from Toronto to Oak Ridge, investing $313 million and adding 620 jobs.

 

Note: This story was last updated at 7:05 p.m.

Seeking to clarify its plans, CVMR on Friday said it still hopes to build a metal refining facility in Oak Ridge to produce metal powders and “nano materials.” That investment, to be completed in three phases, could cost more than $300 million in the first phase and eventually employ 1,200 to 1,500 engineers and technicians, the company said Friday.

But they will not establish a Center of Excellence focused on research and development of the application of vapor metallurgy technology to an expanding group of elements, CVMR said in a Friday letter to Tennessee Governor Bill Haslam.

The company sought to publicly clarify its position after news stories this week suggested that the CVMR deal was dead. Some officials and developers had pushed back after those stories appeared in several Knoxville media outlets, saying they remained “cautiously optimistic” that the company could still come to Oak Ridge. [Read more…]

Filed Under: Business, Business, Oak Ridge, Roane County, Slider Tagged With: Center of Excellence, City of Oak Ridge, Clint Brewer, CVMR, CVMR USA, Kamran Khozan, Mark Watson, metal refinery, metal refining, Michael Hargett, Oak Ridge Chamber of Commerce, Oak Ridge National Laboratory, ORNL, Parker Hardy, Randy Boyd, Ron Woody, Steve Jones, Tennessee Department of Economic and Community Development, Tennessee Economic and Community Development, The Roane Alliance, University of Tennessee, Wade Creswell

State comptroller approves $13 million agreement for Oak Ridge Mall

Posted at 4:43 pm February 8, 2014
By John Huotari 2 Comments

Oak Ridge Mall

The Tennessee Comptroller has approved the use of a $13 million tax financing agreement that could be used for the $85 million redevelopment of the Oak Ridge Mall. The L-shaped mall is pictured at center above.

The Tennessee Comptroller has approved a $13 million tax financing agreement that could be used for the $85 million redevelopment of the Oak Ridge Mall.

The approval was announced in a Wednesday letter from Tennessee Comptroller Justin P. Wilson to Nashville law firm Bradley, Arant, Boult, and Cummings, which is working with Crosland Southeast, the North Carolina company that wants to redevelop the mostly empty mall.

The 20-year tax increment financing, or TIF, agreement, would use new property tax revenues generated at the 59-acre site to help pay for development costs, possibly including tearing down the existing space between the two remaining anchor stores, JCPenney and Belk, as well as for replacing aging infrastructure and building new roads. [Read more…]

Filed Under: Business, Business, Government, Oak Ridge, Slider, State, Top Stories Tagged With: Anderson County Commission, Belk, Bradley Arant Boult and Cummings, Clint Brewer, comptroller, Crosland Southeast, ECD, IDB, JCPenney, Justin P. Wilson, Oak Ridge City Council, Oak Ridge Industrial Development Board, Oak Ridge Mall, property tax revenues, redevelopment, retail sales, sales tax revenues, tax financing, tax increment, tax increment financing, Tennessee Comptroller, Tennessee Economic and Community Development, TIF, Tim Sittema

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Classifieds

Public Notice: NNSA announces no significant impact of Y-12 Development Organization operations at Horizon Center

AVAILABILITY OF THE FINAL ENVIRONMENTAL ASSESSMENT FOR THE OFFSITE HOUSING OF THE Y-12 DEVELOPMENT … [Read More...]

ADFAC seeks contractors for five homes

Aid to Distressed Families of Appalachian Counties (ADFAC) is a non-profit community based agency, … [Read More...]

Public notice: Draft environmental assessment for Y-12 Development Organization at Horizon Center

AVAILABILITY OF THE DRAFT ENVIRONMENTAL ASSESSMENT FOR THE OFFSITE HOUSING OF THE Y-12 DEVELOPMENT … [Read More...]

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