The state of Tennessee will give $6.75 million toward the new Under Armour distribution facility to be built in Mt. Juliet, a suburb of Nashville.
The incentive was approved Wednesday by the Tennessee State Funding Board in the form of a FastTrack Economic Development Program grant recommended by the Tennessee Department of Economic and Community Development.
The funds will be be used for equipment relocation, construction and other improvements related to the development.
Last week, Under Armour, Tennessee Governor Bill Haslam, and Economic and Community Development Commissioner Bill Hagerty announced the company’s plans to build a new one million square foot distribution and warehouse facility in Mount Juliet. Scheculed to open in early 2016, it will be Under Armour’s third distribution facility in the United States, with the original warehouse in the company’s hometown of Baltimore, MD and the other located in Rialto, CA.
Under Armour will invest over $100 million and will create 1,500 new jobs in the area over the next five years, which were both factors in the amount recommended as an incentive for the Under Armour project.