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Tennessee Resources Page
Inward Investment Guides

Location Notebook: TVA Hitching Its Wagon to the Auto Industry

Cynthia Kincaid , Kincaid Strategic Partners (Q3 2015)
TVA is driving to make automotive manufacturing the cornerstone of the region. More

2015 Gold & Silver Shovel Awards Recognizing Excellence in State Job Creation and Economic Development Efforts

Area Development Special Presentation (Q2 2015)
Area Development’s annual awards recognize individual states for their overall economic development effectiveness. This year, we honor 21 states for their achievements in 2014 in garnering investment and job creation with Texas, Georgia, Tennessee, South Carolina and Nevada awarded the Gold Shovel. More

Auto/Aero Firms Redrawing the Map

Dale D. Buss, Staff Editor,  (Q2 2015)
Strong sales in the auto industry and a rebounding aerospace sector are spurring new facility/expansion projects in legacy as well as new locations. More

How U.S. States are Targeting Foreign Direct Investment

Thomas J. Stringer, Esq., Principal, Site Selection & Business Incentives, Ryan & Company (Location USA 2015)
State and regional economic development organizations are developing a variety of strategies to market their best assets, build relationships, and improve their business climates to attract FDI. More

The United States: A Growing Competitor for New Manufacturing Plants

Alexandra Segers, International Senior Account Executive/Program Manager, SSOE Group (Q1 2015)
As companies continue to review their global site selection options, they are realizing the strong, measurable advantages a U.S. location offers. These advantages can easily be overlooked if the location decision is based on limited information or preconceived notions. More

Assessing a Location’s Workforce

Keith Gendreau, Consulting Manager, Global Consulting Group, Cushman & Wakefield (Workforce Q1 2015)
Every labor market is unique. Evaluating a region’s labor suitability for a new or expanding operation should consider many factors beyond population size and unemployment rates. Understanding the interconnectivity of topics pertaining to competitive demand, pay practices, attrition, applicant flow/quality, geographic site positioning, union activity, benefit offerings, and training resources is important and will better inform a location commitment decision. More

Regional Report: Auto, Aviation, Energy Drive Growth in the South

Steve Stackhouse-Kaelble (Directory 2015)
The Southern States are driving into the future on the strength of the motor vehicle industry. These states tend to be heavy on manufacturing; their manufacturing sectors tend to have strong automotive activity, and it’s a good time to be in that business. That’s among the reasons all six of the states in this region took home Area Development’s Silver Shovel honors earlier this year. More

Critical Site Selection Factor #1: Availability of Skilled Labor an Acute Need

Dale D. Buss, Staff Editor,  (Q4 2014)
With a growing U.S. economy and an “onshoring” trend fanning demand, the availability of skilled labor has become the #1 factor in site decisions. More

TENNESSEE at a glance

POPULATION: 6,495,978 (2013) - US Census Bureau (2013)

LABOR FORCE: 3,070,456 (2013) - BLS Annual 2013 Seasonally Adjusted

RIGHT TO WORK: Yes

KEY SECTORS: Aerospace & defense; automotive; chemicals , plastics &rubber; transportation, distribution, & logistics; energy technology; food and agribusiness; healthcare and medical devices; business services (HQs, R&D, datacenters, call centers); manufacturing; and entertainment and media

COLLEGE GRADUATES: (Age 25 and over) 24.8% (2013) - US Census Bureau ACS 1 Yr 2013

BASIC BUSINESS TAXES:
Sales and Use Tax: 7 percent state (food 5 percent) and 1.5–2.75 percent local

Property Tax: Local only; 2013 median rate per $100 of assessed value for counties was $2.31 - TN Comptroller of the Treasury

Excise Tax: 6.5 percent of Tennessee taxable income

Franchise Tax: $0.25 per $100 value of the greater of net worth or real and tangible property in Tennessee

BUSINESS INCENTIVES:
FastTrack Infrastructure Development Program

FastTrack Job Training Assistance Program

FastTrack Economic Development Fund

Job Tax Credit

Enhanced Job Tax Credit

Industrial Machinery Tax Credit

Sales and Use Tax Exemptions

Export Assistance

Applicant Recruitment and Screening (Tennessee Department of Labor)

State Industrial Access Program (Tennessee Department of Transportation)

Principal Manufacturing industries

  • Transportation Equipment
    20.7%
  • Fabricated Metals
    11.0%
  • Food Products
    10.4%
  • Machinery
    8.7%
  • Chemicals
    8.1%
  • Rubber & Plastic Products
    6.5%
  • Other Manufacturing Industries
    34.6%
Source: EMSI