Tennessee On the FastTrack®
Tennessee is on the FastTrack® in economic development with a world-class location, a pro-business environment, a dependable and educated workforce and a wealth of technology resources.
Tennessee is indeed the center of the south, within a day’s drive of 75 percent of America. The state offers ready access to eight interstates, major rivers, international airports and extensive railways so manufacturers can quickly and efficiently ship anywhere in the world.
“Tennessee is working aggressively to attract industries from a wide range of sectors,” says Matthew Kisber, Commissioner of the Tennessee Department of Economic and Community Development. “We are taking technology development seriously and we’re working hard at building communications and bringing together technology interests and resources that could support one another.”
From biotechnology and auto manufacturing to distribution and transportation services, Tennessee is offering southern hospitality industrial-style with a new toolbox of incentives and plenty of strategic advantages that are attracting modern-minded companies. Its revamped Three-Star Program is spurring economic development across the state with community-based incentives.
When it comes to automotive production, Tennessee ranks among the top five states in the nation. Business Facilities magazine also rates Tennessee among the nation’s top states as an attractive location for biotech companies with an impressive list of medical device, pharmaceutical, AgBio and chemical industries fields.
Tennessee also means technology. The state hosts the Oak Ridge National Laboratory, the National Prototype Center and dozens of other technological resources. Meanwhile, the state is home to world-class distribution, logistics and transportation industries.
Eastman Chemical, FedEx, Asurion, Caremark, Nortel Networks, King Pharmaceuticals and United Foods all have headquarters in the state, illustrating diversity that assures a well-trained workforce among many sectors. This right-to-work state has a work force of three million. The work ethic of Tennesseans goes back to pioneering roots making the state’s labor pool second to none. With more than 60 universities and colleges, it is no wonder Tennessee is considered the backbone of the Southern Automotive Corridor.
A pro-business governor and legislature has led to worker’s compensation reform, jobs tax credit improvements and a renewed focus on job retention for both prospective and existing industries. Tennessee offers one of the lowest per capita tax burdens and utility costs in the country; a reformed and competitive worker’s compensation program; and there is no sales tax on industrial equipment. That makes for a cost of doing business that’s difficult to beat.
“Tennessee, a low-tax state, is a great place to locate because we are more competitively using job training and infrastructure resources, and we’re building stronger public and private partnerships focused on job creation and job retention,” Kisber says. “It's a great time to do business in Tennessee.”
You can’t talk about Tennessee without mentioning the stellar quality of life. Tennessee is one of the most visited states in the nation and one of the best places to live with parks, recreation, schools, and a beautiful climate.
“In Tennessee, it’s true that you find the best of ‘southern hospitality’ as well as a strong healthcare base, quality schools and safe communities,” Kisber says.
For more information about Tennessee, call the Tennessee Department of Economic and Community Development at 1-877-768-6374, or send an e-mail to firstname.lastname@example.org or visit www.tnecd.gov