KINGSPORT, Tenn. (AP) — The U.S. Commerce Department's Economic Development Administration has awarded $1.5 million to Kingsport for development around Eastman Chemical Co.
The Kingsport Times-News (http://tnne.ws/VObI2e ) reports the grant will go toward infrastructure improvements that will provide a consistent, reliable water source to businesses. It will also support Eastman's recently announced $1.6 billion effort to expand and improve its corporate campus.
Eastman is a major employer in the Kingsport area. It produces a broad range of products for manufacturing and business use.
The EDA says the grant will create an estimated 120 jobs in the area and generate $640 million in private investment.
Officials announced the grant on Monday.
Information from: Kingsport Times-News, http://www.timesnews.net