UT study shows VW plant adds more than $50M to state, local coffers

KNOXVILLE, Tenn. (AP) -- A research study by the University of Tennessee at Knoxville shows Volkswagen's assembly plant in Chattanooga is responsible for more than $643 million in annual income.

The study also estimates that the plant increases state and local tax revenue by $53.5 million annually.

Last month, VW announced it had reached a production milestone at the plant when the 250,000th Passat midsize sedan rolled off the assembly line.

The milestone came a little more than two years since production began at the plant.

Shortly after hearing the news, Sen. Bob Corker (R-TN) released a statement celebrating the news:

“When the announcement was first made that Volkswagen would be coming to Chattanooga, I believed the partnership would not only change Chattanooga forever, but that our entire state would reap the tremendous benefits we are seeing,” said Corker.

“This study is yet another reminder that Volkswagen is a great partner for our state, and it’s incredibly gratifying to see just how many lives this partnership has already impacted.”



 
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