On Tuesday morning, a state economic development official said an unidentified company, dubbed "Project A," is poised to make a $5 million investment to relocate that many jobs to Nashville. The state official, Jamari Brown, said those jobs would have an average annual pay of $48,000 and be stationed downtown, where the company is negotiating to lease office space.
Now, multiple sources are telling the Business Journal that CBS Radio Inc. is the company Brown referred to at a meeting of Metro's Industrial Development Board.
If CBS Radio consummates its move to Nashville, it would effectively be a back-to-back coup for the city in drawing new jobs from the entertainment and media industries. A couple of weeks ago, giant record label Warner Music Group announced that it would add as many as 500 jobs in four years, mainly by stationing its national finance team here.
Both deals show the city and the state striving to leverage the "Music City" brand to generate jobs beyond just those rooted in the recording industry on famed Music Row.
Tennessee has reportedly offered $1 million in taxpayer incentives for the "Project A" deal, Brown told Metro's Industrial Development Board on Tuesday. It's not clear what types of jobs CBS Radio would be bringing to Nashville. Brown declined further comment.
CBS Radio owns 117 stations in 26 markets, reaching 65 million people a week in 2015. The business is poised for a major shakeup, as it is spinning out from CBS and planning to go public.
No comments:
Post a Comment