Cocke County IDB Meeting Today
Later today the Industrial Development Board will be meeting at Newport City Hall. Several items are on the agenda, one of the biggest will be giving final approval of the TIF program regarding the Love’s Travel Center. Using the TIF program, the city of Newport would use future tax revenue generated from the Love’s Travel Center to pay for $3.6 million of infrastructure improvements needed for that project. The Love’s Travel Center which has been in the planning stages for 3 years is to be built off I-40 at exit 432 next to the existing Comfort Inn motel. That Love’s Travel Center will contain at least one if not two restaurants. The recent removal of the left hand exit off I-40 for eastbound Hwy 25-70 was done as part of the plan for that Travel Center.
The IDB will also be looking to give final approval of the name of the new Innovation Center being built on Hwy 25E…the name of that park would be the Smoky Mountains Innovation park of Cocke County. That meeting of the IDB is this afternoon at 5:30 at Newport City Hall.