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Chattanooga: Convention facility revenues rise
The Chattanooga Convention Center’s revenues for October were up compared to the same month a year ago, breaking a string of down months.
Gross revenues for October were $561,000 compared to $421,000 for October 2007, said Tim Riddle, executive director. Net revenue was $287,000 compared to $222,000 last year.
“All in all, October was a really good month,” he said.
Mr. Riddle attributed the positive revenue to six conventions covering 26 days compared to three conventions covering six days in October 2007.
Convention Center officials estimate October’s events generated an economic impact of more than $2 million.
Mr. Riddle said he expects Novembers figures will be similar to last year’s, while Decembers revenue is expected to be down.
BASF cuts production at Chattanooga plants
German chemical company BASF will temporarily close 80 plants worldwide and will cut production at 100 more, including operations in Chattanooga, officials said.
“Nothing is closing (in Chattanooga),” said Maureen Paukert, spokeswoman for BASF. “We are temporarily shutting down some production because of the general economic environment.”
Ms. Paukert said none of the more than 100 employees at Chattanooga BASF facilities on Polymer Drive and Amnicola Highway will lose their jobs.
Officials cited slowing demand as the catalyst for cutting production.
The Chattanooga facilities manufacture polymers used in adhesives, carpet backing, foams, paper coatings and asphalt modifiers, officials said.
The annual payroll at the Chattanooga facilities is about $10.2 million.
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