SECTION 6 — Industry Health: Jobs, Profitability & Future Growth
21. No Job Losses or Bankruptcies in 69 Counties
Based on case studies from the 69 Tennessee counties that have successfully implemented this tax, there have been zero job losses and no mining company bankruptcies. Quote: “NO evidence… has caused lost jobs or financial harm.”
22. Mining in Jefferson County Is Highly Profitable
The tax is a tiny fraction of industry profits. Quote: “This includes $132 million in annual gross profit — $107 million from zinc and $25 million from limestone. A proposed $0.20 tax per ton is less than 0.4% (less than 1/2 of a percent) of total gross profits.”
23. Korea Zinc’s Financial Strength Shows Long‑Term Commitment
Korea Zinc — the new owner of the East Tennessee mines — is one of the world’s most financially stable metals companies. Their $6.6 billion smelter investment in Clarksville, made in coordination with the federal government, demonstrates long‑term confidence in Tennessee’s mining future and assures even greater financial stability. Quote: “Significant investment in new smelter near Clarksville of $6.6B+… mining will increase in TN.”