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Tennessee Resources Page
Inward Investment Guides

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

Critical Site Selection Factor #5: Advanced ICT - Companies Look to Visionary Locales

Dale D. Buss, Staff Editor,  (Q4 2014)
The rise of “big data” in nearly every industry vertical has promoted continued importance of a robust information and communications technology (ICT) infrastructure as a site selection factor. More

Critical Site Selection Factor #8: State & Local Incentives Figure More Heavily

Dale D. Buss, Staff Editor,  (Q4 2014)
The importance of state and local incentives smashed up through the ranks of site selection factors to #8 in Area Development’s most recent Corporate Survey from #13 a year earlier. And, with big money at stake, states are more careful to make sure they are getting what they pay for. More

Six Predictions Regarding the Industrial RE Market Recovery and How They Have Played Out

John Morris, SIOR, Industrial Services Lead for the Americas, Cushman & Wakefield, Inc. (Q4 2014)
When the industrial real estate recovery began, the trends that likely would drive its transformation and progress became a favorite discussion topic among industry practitioners. Just a few years later, our sector continues on a solid, positive trajectory. Now feels like a good time to look at whether those early prognostications have played out. 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