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Old 05-30-2013, 08:21 AM
 
Location: Kingsport, TN
1,697 posts, read 6,188,955 times
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Quote:
Originally Posted by Emigrations View Post
According to the announcement, 300 jobs will be created in TN, but that doesn't say whether or not the jobs are in Kingsport or whether they are full time Eastman positions, or positions filled by a third party agency.
Virtually all of the jobs will be in Kingsport and very few, if any, will be outsourced.
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Old 06-02-2013, 12:20 PM
 
Location: Kingsport, TN
1,697 posts, read 6,188,955 times
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After Project Inspire was announced last Wednesday, Eastman Chairman and CEO Jim Rogers told reporters the company is trying to “upgrade working conditions for a number of our people,” including the 300 new hires expected to come with the initiative.

“We’re talking about 300 great jobs,” Rogers said. “We’re talking about great jobs that reflect the (corporate) headquarters is here. These are folks who are going to have a number of skills, whether they are out of business school or have advanced degrees or skills in marketing, sales, business, etc., across the board ... everything you would expect from a global name like Eastman.”

Eastman considering recreation area for new office building | Kingsport Times-News
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Old 06-05-2013, 09:04 PM
 
22 posts, read 37,260 times
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Thanks a billion, Eastman!!

Now I understand what all the marquee's meant this weekend, while visiting Kingsport!!!
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Old 06-07-2013, 07:19 PM
 
Location: Jonesborough, TN
696 posts, read 1,288,322 times
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I did not realize until today that the state paid Eastman $30 million as their part of this joint partnership to convince Eastman not to relocate to another state. On principle, Im not a fan of that type of deal. But its still better than paying a retail establishment to open.
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Old 06-09-2013, 11:06 AM
 
Location: Tennessee
29,178 posts, read 21,994,118 times
Reputation: 36140
Quote:
Originally Posted by jchometeam View Post
I did not realize until today that the state paid Eastman $30 million as their part of this joint partnership to convince Eastman not to relocate to another state. On principle, Im not a fan of that type of deal. But its still better than paying a retail establishment to open.
It's certainly better then another retail business or call center, however, corporate welfare like this doesn't have a track record of performing very well. If sales are down when Cabela's and the other retail establishments' contracts are up, they could just relocate, and all of those public expenditures could be for naught.

I understand why the state paid Eastman, as without them Kingsport would die and the other cities would also be severely negatively impacted. What happened with that $30 million is nothing short of bribery, and when areas pay big bucks to keep a business or to generate a few jobs (let's face it, the 300 people that will be brought in over seven years doesn't nearly make up for the loss of jobs since Eastman's peak), it's essentially waving the white flag of surrender and saying the area isn't good enough to stay in on its own merits.

With today's economy, you do whatever you can to keep jobs, but this is a very distrubing trend
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Old 06-11-2013, 03:14 PM
 
746 posts, read 1,592,372 times
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Quote:
Originally Posted by jchometeam View Post
I did not realize until today that the state paid Eastman $30 million as their part of this joint partnership to convince Eastman not to relocate to another state. On principle, Im not a fan of that type of deal. But its still better than paying a retail establishment to open.
Update: Eastman investing $1.6 billion, adding 300 jobs in Kingsport through Project Inspire | Kingsport Times-News
Quote:
Haslam disclosed the state’s investment in the project includes a $15 million “Fast Track” grant measured by job creation, plus a $10 million RCAM investment.

Smith noted RCAM has been so successful in Eastman’s workforce development “we’re beginning to bump up against capacity.”
$1.6 billion in new construction x 9% sales tax = $150 million in new sales taxes due to Project Inspire. The state of Tennessee is essentially returning 10% of the new sales taxes Eastman will create.

$15 million grant measured by job creation
$10 million to RCAM


To rebuild as new what Eastman currently has as industrial facilities would cost more than Eastman's market value right now ($11 billion). (The cost of building green field facilities in the chemical industry is incredibly expensive due to higher steel and alloy costs and high instrumentation costs - instrumentation has gradually been upgraded over the years to much higher accuracy and digital ability). Eastman could never afford to "move" unless it shut down 1/2 of its operations and abandoned those chemical markets Kingsport currently serves.

A $15 million grant is essentially a "thank you" or a "1% tip" from Tennessee and in part will pay for a new corporate center, further cementing Eastman's place in Kingsport. Kingsport would be a highly impoverished town if Eastman even cut back by 25%. The State of Tennessee is giving its best customer Eastman a token of appreciation based on what Eastman provides in real estate and sales taxes (directly, or through direct and indirect employees). The relationship the State of Tennessee and Eastman is highly admirable IMHO, unlike places like New Jersey and California that are driving industry out of their state. See if you can find jobs in those states.
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Old 06-11-2013, 06:45 PM
 
746 posts, read 1,592,372 times
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Would just like to add that the biggest short-term risk to Kingsport is not the Eastman facilities going away, but Eastman being bought out by a Dow, DuPont, Bayer, or BASF. If that ever happened, most of the manufacturing would probably continue, but much of the corporate staff, research, development, and mid-level managers would be moved out (to places like the Gulf Coast, Delaware, Pittsburgh, Michigan). Eastman buying Solutia helped protect Kingsport, as Solutia management would eventually be moved to Kingsport from St Louis (through Project Inspire) and the combined Solutia/Eastman is a bigger fish to handle, even for the largest chemical companies. By consolidating as much of the non-manufacturing in Kingsport, the potential for a buyout by larger companies is seen as too disruptive as there is so much concentration of Eastman resources / people in Kingsport. Eastman is a relative small fry in the chemical business, but has some key parts. Eastman buying Solutia and then consolidating Solutia upper level positions in Kingsport is a win-win-win for Eastman, Kingsport, and Tennessee as the Kingsport location however is unappetizing to those global conglomerates.

Tennessee helping Eastman build out in Kingsport is a bet as well as an investment to ensure that Eastman stays independent. Eastman being bought out would be disastrous for Kingsport even if all the manufacturing jobs stay in the short term.
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Old 10-31-2013, 10:38 AM
 
Location: Kingsport, TN
1,697 posts, read 6,188,955 times
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Eastman Chemical Co. will be transformed into a 21st century company with construction of a new corporate headquarters here, chairman and CEO Jim Rogers said Tuesday.

The company broke ground on the 300,000-square-foot facility and plans to invest $1.6 billion in a larger, multi-year expansion. Dozens of political leaders – including Gov. Bill Haslam -- and a number of community officials were on hand for the ceremony.

The corporate headquarters will be in the Eastman baseball field, which is across the street from the current corporate headquarters. The buildings will be connected with a walkway over Wilcox Drive.

Gov. Haslam in Kingsport for Eastman Chemical Co. expansion announcement - TriCities.com: Local News
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Old 11-02-2013, 10:34 AM
 
Location: Nashville, TN
1,285 posts, read 2,041,448 times
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I like the building.
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Old 11-03-2013, 08:30 PM
 
746 posts, read 1,592,372 times
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DuPont is splitting its chemicals division from its Life Sciences group, which will remain in Wilmington. The DuPont chemicals division could be on the prowl. Then again, it could get eaten, as it won't be that big. It doesn't have a home city, so if it took over Eastman, it could chose Kingsport as it corporate headquarters.
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