Economic group approves financial report, audit

Matt Masters • Jul 24, 2018 at 7:30 PM

The Wilson County Joint Economic and Community Development Board met Tuesday morning and announced it’s within budget for the fiscal year and its audit came back clean.

Some notable existing projects from the activity report were Runway, a Nashville real estate firm that seeks to buy a new 400,000 square-feet facility in Park 840; Eagle 18, an international company that seeks 8-10 acres for construction of a 100,00-square-feet glazing operation for the metal industry; Lighthouse, a company that seeks a 20-acre site for construction of an initial 150,000-square-feet headquarters operation; and Neat, a tier 1 Japanese auto supplier that seeks 20-25 acres for a new production facility off Couchville Pike.

The board also heard about the positive community impact of Cumberland University. Cumberland University president Paul Stumb told the board about the growth and benefit of Cumberland’s presence in Wilson County.

Stumb said Cumberland will enter the new school year with the most students and employees ever, with more than 2,500 students registered and more than 450 people employed, 27.4 percent and 10 percent increases, respectively.

Stumb said Cumberland annually generates $81.3 million in business revenue and pays $25 million in wages and salaries to its workers.

Cumberland has several updates to its campus, including work to create additional on-campus residencies with the land purchase for Cumberland Corner, an on-campus student health care center and enhanced dining facilities. The campus also implemented $1.5 million in energy efficiency upgrades, which should offer a greater return over time, Stumb said.

Stumb also promoted several events, including the Cliff Ellis basketball court dedication in August and a debate between the Tennessee Republican and Democrat nominees for U.S. Senate in September.

The board unanimously approved the financial report that included line-item transfers from the fiscal year and results from the 2017 audit.

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