"The Rutherford County Industrial Development Board approved the issuance of $35.7 million in bonds Wednesday to finance Nissan's auto factory upgrades.
This is the 18th time Nissan has requested bonds since it established its arrangement in 1982 with the IDB, which leases the factory to the Japanese automaker in exchange for the company paying property taxes at a reduced rate.
"It's been a long and productive relationship," said Steve Miller, a Nissan tax manager who works at the company's American headquarters in Franklin.
Nissan every year or two needs to request bonds to reflect the company's investments to update the factory, Miller said.
"The Smyrna plant is a dynamic operation," said Miller, who is a 25-year Murfreesboro resident who previously worked at the local factory before Nissan moved its headquarters to Tennessee in 2005. "We are constantly changing operations."
In 2012, Nissan will be adjusting its assembly line operation in Smyrna to add the Infiniti JX in February. By December, the company will launch production of the Leaf electric car, and a new Nissan battery factory at the Smyrna campus will produce what's needed to operate the Leaf. The battery factory is about built, and the company will be adding the needed equipment to make the batteries, Miller said.
The latest models of the Pathfinder and Altima will continue coming off the line as well, Miller said.
By 2013, the Smyrna factory will start producing the Rogue, which is a cross between an SUV and a sedan.
While adding new lines here, Nissan plans to relocate production of the Xterra SUV and Frontier pick up trucks to the factory in Canton, Miss.
Miller said Nissan and its contractors are doing a lot of hiring to get ready to produce new cars and batteries.
"Things look good," Miller said. "We're proud to be part of the local community."
Miller said Nissan has a global presence, such as plans to manufacture the Leaf in Japan, Spain and Smyrna." [Continue reading...]
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