The footprint of The Tennessee Valley Corridor, a regional economic and technology development organization stretching from southwest Virginia to northern Alabama, was officially expanded to include Tennessee’s Sixth Congressional District. A ceremony including Congressmen Bart Gordon and potential gubernatorial candidate Zach Wamp took place last week in Murfreesboro.
The sixth district includes Bedford, Overton, Putnam, Robertson, Rutherford, and Sumner counties, as well as parts of Cannon, Clay, Dekalb, Jackson, Macon, Marshall, Smith, Trousdale and Wilson counties. TVC is dedicated to job creation by promoting the corridor as one of the nation’s premier science and technology centers.
According to a U.S. Justice Department news release, bankrupt Atmospheric Glow Technologies, which had a U.S. Air Force research contract, pleaded guilty to a federal indictment charging it unlawfully provided information about unmanned aircraft to a Chinese national in 2005 and 2006, a violation of the Arms Export Control Act. The company faces a possible $1 million fine on each of the 10 counts and a probationary period of up to five years.
Accounting firm Rodefer Moss & Co., with offices in Knoxville, Greeneville, Nashville and Kingsport, announced a merger with Louisville’s Melhiser Endres Tucker CPAs. Terms were not disclosed. Jimmy Rodefer will serve as CEO of the merged entity. The two firms were already affiliated through the BDO Seidman Alliance, an association of privately owned, independent accounting firms.
Citing health problems, John Moses, head of the American Lebanese Syrian Associated Charities, the fund-raising arm of St. Jude Children’s Research Hospital, announced he would step down from that post, which he held for three years.
Across the State
The Tennessee Valley Authority board approved a 2009 budget that included a total average increase of 20 percent in wholesale power rates effective Oct. 1, explaining that the increase was needed to cover increased fuel costs and related expenses.
King Pharmaceuticals announced final results from its Phase III study of Remoxy, a pain killer, revealing that the drug provides effective around-the-clock analgesia within a patented formulation designed to resist common methods of misuse and abuse. King partnered with San Mateo, Calif.-based Pain Therapeutics on the drug.
State Roundup is compiled by the staff of BusinessTN, a sister publication of The City Paper. www.businesstn.com