Dresden Industrial Development Board Approves Security Deposit for New Business

BY DAVID FISHER

david@magicvalleypublishing.com

The Dresden Industrial Development Board met at Dresden City Hall on Thursday, September 7, 2023, to consider a request from Icey-Tek USA for a security deposit guarantee on natural gas service with West TN Public Utility District. The board also discussed the need to complete conflict of interest forms for the State, as well as the desire to continue advertising on LoopNet.  

Manufacturing Plant To Relocate in Dresden

Weakley County Joint Economic Development Corporation CEO Justin Crice presented a request from Icey-Tek USA, which is a company wishing to locate in Dresden. 

He noted the company has already entered into a five-year lease on property located at 454 Swanson Drive, and has plans for moving its manufacturing operations to this location. 

 Crice said Icey-Tek, which is a veteran-owned company, makes large coolers for fishing and recreational use.

According to Crice, the business is requesting the Industrial Board to be a guarantor for their deposit with West TN Public Utility District, amounting to $7,000.

However, he stated there would only be actual funds paid out of the Industrial Board’s account if the company is default in payment. Crice said the monthly gas bill for this location would be $100-$200. 

Tony Winstead made a motion to submit the letter of guarantee for the gas deposit for this company at the location of 454 Swanson Drive, and to request the gas company to notify the Industrial Board if the company enters into financial difficulty on their monthly gas bill. Bobby Goode seconded the motion. The motion was approved by unanimous vote.

Conflict of Interest Forms

In other business, Crice stated that he had attended training a few months ago and learned that all industrial board members should submit a written statement having received and understood the state law on conflict of interest as a member of those boards. 

All members present signed the form and submitted it to Jennifer Branscum, Industrial Board Secretary, to keep on file in the office at City Hall.

Advertising Pad-Ready Site on LoopNet

Branscum asked the board if they would like to continue to advertise the pad-ready site on Swanson Drive on LoopNet or stop the advertisement. 

Larry Jolley made a motion to stop advertising on LoopNet since the site is advertised with the State and with TVA. Tom Reavis seconded the motion, which was unanimously approved.

With no further business to discuss, the meeting adjourned.