KNOXVILLE, Tenn. (AP) -- The Tennessee Valley Authority's "megasite" economic development program is proving to be a megahit with major manufacturers.
A plan hatched by the nation's largest public utility in 2004 to lure vehicle manufacturers to large certified ready-to-go sites in the Southeast is paying off.
Four sites have sold since 2005, including three in a little over a year.
Volkswagen's decision Tuesday to build a $1 billion, 2,000-employee car plant in Chattanooga is the latest.
TVA has four sites still on the table -- one in Alabama, two in Tennessee and one in Kentucky.
TVA executive John Bradley won't predict how soon they may sell, but says "we are always having activity on these sites" from from prospective buyers.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.