Press release from the House Republican Caucus; March 21, 2012:
NASHVILLE, Tenn.—StonePeak Ceramics has announced a $15 million expansion of its state-of-the-art porcelain tile manufacturing facility in Crossville, Tennessee. The expansion will add a new product line to the facility as well as allow for increased storage space of its finished product and bring 50 new jobs to the community.
“StonePeak Ceramics’ announcement is another example of Tennessee’s business friendly climate, and I thank company officials for their decision to grow in the Crossville community,” Governor Bill Haslam said. “Existing industry expansions are the key to growing our state’s economy and will help make our goal of becoming the number one state in the Southeast for high quality jobs a reality.”
“The importance and support of existing industries in Tennessee should not be understated,” Tennessee Department of Economic and Community Development Commissioner Bill Hagerty said. “Expansions by companies like StonePeak Ceramics that have long-standing relationships within their communities drive job creation for our entire state. I thank StonePeak Ceramics for its continued investment in Tennessee and our citizens.”
“I applaud StonePeak investing $15 million to expand their operation in Cumberland County and provide 50 additional jobs to our community,” stated Representative Cameron Sexton (R—Crossville) “Last year, the General Assembly passed pro-business reforms that aid in recruiting new businesses to Tennessee as well as helping our existing job creators like StonePeak Ceramics. Announcements like this prove our agenda is working and our state is setting the standard for economic growth.”
The expansion is scheduled for completion by the end of 2013. The company has purchased 35 acres adjoining its property on Porcelain Tile Drive to improve storage and shipping efficiency. A new 60,000-square-foot expansion to the current 750,000-square-foot manufacturing facility is also planned. As part of the expansion, StonePeak has qualified for a PILOT program (Payment -In -Lieu –of- Tax) agreement for a 15-year period. The Cumberland County Industrial Development Board has agreed to the PILOT on real and personal property.
StonePeak Ceramics was established in Crossville in 2001, with company officials citing the location’s appeal due to the availability of raw materials and the location within a day’s drive of 75 percent of the United States’ population. Parent company GranitiFiandre operates eight plants in Italy and one in Germany, in addition to the Crossville location, but the U.S. location has helped the company tap into the U.S. tile market.