After a years long process, it became official today.
Schneider Electric USA will open a regional headquarters in Franklin and bring nearly 1,200 jobs with it.
Governer Bill Haslam and the state’s Economic and Community Development Commissioner Randy Boyd made the announcement in a press release Wednesday afternoon.
In June the county approved a little more than $2 million in tax incentives. In return, if the deal went through, Schneider agreed to bring the jobs over ten years, and locate at Two Franklin Park, which is slated to be completed at the end of 2017.
“We are excited that this international company has chosen to locate their regional office in Williamson County. With the potential of 1,100 new jobs for our county, there will be more quality job opportunities for our residents,” Williamson County Mayor Rogers Anderson said. “In business since 1836, Schneider Electric rose from 25th in 2015 to 10th place in the Newsweek Global Green Ranking for 2016 and we are proud to have global energy innovation specialist in our community.”
At the time of the tax incentive approval, Ryan Stanton, smart cities account manager for Schneider, who represented Schneider at the county talks, said the final steps before it became official were state and Schneider leadership approval.
The Paris, France-based company, as part of the incentive plan, will make its home in 150,000 to 180,000 square feet of offices at Two Franklin Park tower on 6700 Tower Circle in Franklin
“It is another feather in our cap to have a company with this high quality of jobs,” said Anderson.
The maximum projected number of jobs the company will create is 1,140, with an average salary of $73,000 per year plus benefits. Schneider, which might be most recognizable to Americans for its Square D products, is 180 years old and has 180,000 employees in more than 100 countries around the world. Its American headquarters are in Andover, Massachusetts.
“The state of Tennessee has long been a hub of innovation for Schneider Electric, and we are happy to maintain our strong commitment to the communities where we live and work,” said Annette Clayton, CEO and president of Schneider Electric North America. “Our new facility in Franklin will be our largest office in the country, creating an environment that encourages collaboration with customers and employees. The facility will be designed with the Schneider Electric vision of workplace collaboration and energy efficiency and will create a center of leadership and excellence.”
The economic tool the county used to incentivize Schneider is called Tax Increment Financing. Under it, the county would, at maximum, give Schneider a $2,110,254 break in property taxes over ten years. However, this break happens only if Schneider has created at least 912 jobs, or 80 percent of the maximum.
“Schneider Electric will be a great addition to the many corporations who choose our beautiful city,” Franklin Mayor Dr. Ken Moore said. “We are honored they selected Franklin and are excited about the many jobs they will bring to our area.”
The office will be their largest in the country, and is the latest in a long line of recent moves by prestigious corporations to Williamson County.
“The office for this global company will be their largest office in the United States, and this decision allows Schneider Electric the opportunity to continue to grow and play a vital role as an economic engine for the entire Nashville region,” said Matt Largen, Williamson, Inc. CEO. “Schneider proved to be a great partner throughout the entire site selection process. This announcement further cements Williamson County’s reputation as a leader in attracting and retaining headquarter jobs in the new innovation economy. Finally, strategic job growth, like we see in today’s announcement, will provide countless economic opportunities for the citizens of Williamson County and also our small businesses who play such a vital role in our economic ecosystem. Today’s announcement has a ripple effect throughout our economy, and will benefit the next generation of our community by providing great jobs for years to come for our sons and daughters.”
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