Haslam signs cash grants plan

NASHVILLE, Tenn. (AP) -- Gov. Bill Haslam has signed a measure to increase the amount of cash grants available to companies looking to invest in Tennessee.

The administration legislation will allow the state to provide Fast Track grants for retrofitting, relocation, office upgrades or temporary space for companies investing in Tennessee.

The measure passed the Senate 29-1 last month and the House concurred with that version 92-0 the next day.

The current Fast Track program is limited to jobs training and infrastructure improvements.

The state has appropriated $217 million to the program over the last three budget years and Haslam proposed pouring another $80 million for the current and upcoming budget year.

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