NOVONIX Expansion Approved with Tax Incentives

NOVONIX Limited has received unanimous approval from Chattanooga and Hamilton County for acquiring a 182-acre site for a new production plant, Enterprise South, which aims to produce 31,500 tonnes of synthetic graphite annually by 2028 and create 500 jobs. The project will benefit from an estimated $54 million in tax incentives over 15 years, contingent on final approval from the Chattanooga Industrial Development Board. This expansion is part of NOVONIX's strategy to meet rising customer demand and reduce dependency on overseas production, primarily dominated by China. The Hamilton County Commission supports the tax break, viewing it as advantageous for local economic growth, although concerns remain due to past job cuts by NOVONIX in the area. Local officials, including Commissioner Ken Smith, have raised questions about the pilot program's reliability, but the company assures compliance with project goals. The initiative is seen as a significant step in establishing Chattanooga as a central hub in the emerging battery industry.