A major recycling company could be headed to the Niles Ferry Industrial Park in Vonore.
The Niles Ferry Industrial Design and Review Committee met at the JP Kennedy Building in Madisonville Thursday afternoon and approved the unnamed company's request for an option to purchase 25 acres in the industrial park.

A top company official told the committee the company recycles aluminum, 25 million pounds a month, and is looking for an East Tennessee location to be near a major customer and further its growth.

The company was not named to protect ongoing sensitive business negotiations, however the company official said the initial investment would be between $10 and $15 million and bring up to 50 local jobs. If all goes well, the number of jobs could roughly double as the business expands.
Even better news is that if the company does locate in Monroe County as planned, it could prompt another industry to locate here and that company could be investing $50 million and bringing an additional 50 to 70 jobs with it, officials said at Thursday's meeting.

While the company negotiates with other parties, it will pay the county $500 a month for six months for the land as it attempts to finalize its plans.
Monroe County Economic Development Director Shane Burris said if the company exercises its option to buy the land, it would pay $5,000 an acre.

The company said it runs an environmentally friendly operation and gives back to communities it is involved with, including nearly $1 million for school art programs at a current location.
County Mayor Allan Watson said in years past, the county looked to attract industries that would bring 300 or 400 jobs here, however he acknowledged landing the firm would be a major benefit in the current economy.

"Forty to 50 jobs would be a God send," the county mayor said.  
No exact timetable was discussed on when the company could be in operation.
The company official said the starting pay for jobs would be around $14 an hour and about $20 for maintenance positions.

In other business on Thursday, the Niles Ferry Committee approved site plans for improvements for storage and drainage at Fort Loudoun Electric Cooperative's Niles Ferry headquarters.
The committee also approved the plans for a new electric substation for Fort Loudoun at Niles Ferry.
Chad Kirkpatrick, vice president of operations and engineering for FLEC, said the substation and other improvements to the Niles Ferry power system would be nearly a $4 million investment.
He said major proposed TVA line upgrades and the FLEC work would dramatically improve the area's ability to serve very large industrial customers and data centers.

Kirkpatrick pointed to $4.5 million of investment for a new Tellico substation and other work as having saved that community from having power load problems during the recent two-week cold stretch.
Watson said the Niles Ferry Committee could soon review other proposed projects.

tommy.millsaps@advocateanddemocrat.com | 337-7101