November 22nd , 2013 11:00 am Leave a comment

Washington County site off table, STL chief seeks PILOT assurance

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Photo by Brandon Hicks
Carter County Attorney Keith Bowers said the county has done all it can at this point to move the STL job retention project along.

With the possible purchase of the building it has been leasing for the past four years, Send The Light Distribution is in the process of setting itself up to remain in Carter County.

During the Carter County Industrial Development Board’s Thursday meeting, Glenn Bailey, president and CEO of STL, said a location in Washington County that was being considered is no longer an option.

Carter County Tomorrow President Tom Anderson said there is still the chance that STL could decide not to pursue the purchase option in the lease agreement and continue to rent the building instead.

Bailey said there has been a lot of change going on within the company.

“A little over a year ago, my partners and I actually bought the company away from our prior owner,” Bailey said. “We now are a very young and very new company and we are doing the same business we have always done, but with new ownership. We are so young and so new that we are probably going to get our financing from the Small Business Administration to buy the building.”

Bailey said he would like to see the company close on buying the building in December, but it could take until January.

“In order to do that, they are going to want to know that there is a payment in lieu of taxes (or PILOT) project,” Bailey said.

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