The Knoxville News-Sentinel
Jun. 1--The Knox County Industrial Board's application review committee voted unanimously Tuesday to recommend approval of a 20-year payment in lieu of tax incentive for Jewelry Television.
Under terms of the PILOT deal, the Knoxville-based 24-hour shopping network would pay $275,000 a year in lieu of county property taxes. The money would go to the IDB, which would use the funds to buy land for industrial development.
The full IDB meets June 14 to vote on the PILOT application.
Jewelry Television has agreed to buy a 50-acre site in the Pellissippi Corporate Center in West Knox County where it plans to build a 225,000 square-foot, $21 million headquarters.
The company plans to start construction early next year and to move into the building in 2007.
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