Expansion of County Industrial Park to Accommodate United Rare Earths Operations
The Joint Economic Community Development Board in LaFollette, TN, recently discussed the addition of 237 acres to the county’s Industrial Development Park. This expansion comes in anticipation of the growth expected from United Rare Earths, a company looking to acquire 106 acres for the second phase of its operations.
JECDB Chair Jay Willoughby emphasized the importance of acquiring additional industrial property to accommodate the influx of businesses that United Rare Earths will bring to the area. The 237 acres, located next to the Hershal Collins Industrial Park in Caryville, offer multiple sites suitable for industrial development.
Upon completion of an environmental impact study and survey on the new industrial site, the deed of the property will be transferred to the Industrial Development Board. This transfer will allow the board to apply for industrial grants to fund utility and infrastructure development on the property.
United Rare Earths’ operations in the area are set to bring significant economic growth, with phase one of their project slated to start construction by fall. The magnet recycling facility in phase one is expected to provide around 80 jobs, while phase two, a refining facility, and phase three, a laboratory and technology center, will bring hundreds of additional job opportunities.
The JECDB also approved an additional $5,000 towards the environmental impact study for the expanded property. The next meeting of the JECDB is scheduled for August 8th at LUB.
The acquisition of additional industrial property marks a significant step towards economic development and growth in the county, further solidifying its position as a hub for industrial activities.
