Business

Business & Finance stories related to Southern Middle Tennessee

United Way of Highway 55 Calls for Applications for 2024-25 Grant

United Way of Highway 55 is now accepting applications for the next allocation cycle. All nonprofits that serve Coffee, Moore, or Warren County citizens are eligible to apply for funds. Applications are due May 1st, 2024. Please contact Ashley Abraham at 931-455-5678 or director@highway55unitedway.org to receive an application.  To fill out electronically, go to https://form.jotform.com/240774289820161. …

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Woodbury Man Gets 11 Years for Bank Robbery

Clifton Knight, 62, of Woodbury, Tennessee, was sentenced on Friday to 11 years in federal prison, followed by 3 years of supervised release. In August 2023, Knight pled guilty to a three-count Indictment charging him with three bank robberies in Nashville. On January 4, 2022, Knight robbed a SunTrust Bank located on Hobbs Road in …

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Tennesee Unemployment Rate Drops in February

After a slight increase at the start of 2024, Tennessee’s unemployment rate dropped to near record-low levels in February. Department of Labor and Workforce Development (TDLWD) data showed the new seasonally adjusted statewide rate for the month at 3.3%, a decrease of 0.2 of a percentage point from January’s revised rate. The state’s all-time low …

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New Finance Director for the City of Manchester

The Manchester Board of Mayor and Aldermen have selected their next approved Finance Director. Anthony Burrows, who works in the same capacity for the City of Lynden in Washington State, has accepted the position. The contract for Burrows will include a salary of $120,000 plus 10 days of leave and accrued leave at the annual …

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455 New Jobs Coming to Tennessee

Schneider Electric, the global leader in the digital transformation of energy management and automation, announced plans to invest $140 million in its U.S. manufacturing operations in 2024. The company will invest $85 million initially to transform and equip an existing 500,000-square-foot building in Mt. Juliet, Tennessee, and upgrade its existing Smyrna, Tennessee, manufacturing operations. Both …

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Joann’s Fabric and Crafts Files for Bankruptcy; Stores to Remain Open

Joann’s Fabric and Crafts, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending. In a statement Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in fresh funding, which will help reduce its debt by half, …

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AEDC Awards New Test Operations and Sustainment Contract

On March 14, the Arnold Air Force Base contracting office awarded the Test Operations and Sustainment (TOS) II contract, valued at more than $3.7 billion. This contract will ensure the continuity of the Arnold Engineering Development Complex (AEDC) ground test mission for the next several years. Beyond New Horizons, LLC (BNH), Huntsville, AL, a joint …

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1,000 Family Dollar Stores to Close

Family Dollar plans to close about 1,000 stores nationwide as inflation takes a bite out of consumers’ wallets and low-cost-retailers’ profits. Family Dollar will close 600 locations in the first half of this year and 370 stores over the next several years as store leases expire. Also, Dollar Tree, which owns Family Dollar, reports it …

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Three Expensive Vehicles Stolen from Dealership

It’s one of the biggest thefts that longtime Lawrenceburg officers can remember. Three expensive vehicles were allegedly stolen recently from a dealership, including a brand-new Corvette driven right off the showroom floor. The three vehicles are worth more than $300,000. That includes a $148,000 new Z06 Corvette, a 2024 GMC Sierra HD 2500 Denali pickup …

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Proposal to Stop Grocery Tax in Tennessee

An effort to alleviate financial burdens on Tennessee families is moving forward as the state House advanced a bill that would eliminate the state’s grocery tax. Tennessee’s sales tax rate on food currently stands at 4%, with local jurisdictions able to add up to an additional 2.75% in local sales taxes. The proposed legislation prohibits …

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