JSP International has officially purchased the former Federal Mogul property in Tullahoma as part of a major expansion.
Company officials said the expansion will more than double the firm's employment from 11 to about 30.
"It's an awesome deal," said Tullahoma Industrial Board executive director Kim Finn of the recent transaction, recorded in the Franklin County Register of Deeds office. As Ms. Finn mentioned, JSP International is buying the property through a 20-year payment-in-lieu-of-taxes program.
"JSP is a major company," she added, "that has been molding plastic at Tullahoma Industrial Park for several years. This building gives them room to expand."
While unable to give a figure for the purchase of the property, JSP plant manager Curt Parsons said the expansion should cost about $5 million and will hopefully be complete sometime in July.
The company is still waiting to hear about a state grant it has applied for to build a railroad spur for as part of the expansion at the 51-acre site, Parsons added. Createc will continue to be a major customer, he added.
Parsons said the company does a lot of business in the southeast quadrant of the country, so the expansion is in a good location. JSP International also has plants in Butler, Penn.; Detroit, Mich.; San Bernardino, Calif., and Mexico.
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