{"id":246480,"date":"2022-04-25T21:28:27","date_gmt":"2022-04-26T01:28:27","guid":{"rendered":"https:\/\/chiefexecutive.net\/?page_id=246480"},"modified":"2025-02-18T12:29:59","modified_gmt":"2025-02-18T17:29:59","slug":"tennessee","status":"publish","type":"page","link":"https:\/\/chiefexecutive.net\/best-worst-states-business\/tennessee\/","title":{"rendered":"Tennessee"},"content":{"rendered":"\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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CEO Guide to Site Selection<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Tennessee<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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BLUE OVAL AND BEYOND<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Tennessee has witnessed notable investments and expansions in the past couple of years, particularly in manufacturing and healthcare. BlueOval City, a $5.6 billion mega campus in Stanton, continues to grow and attract new tenants. Avancez announced in March 2023 a $54 million investment and more than 500 new jobs at its operations there. The Greenheck Group also announced in January 2024 a $300 million investment and 440 new jobs at its campus in Knoxville. Furthermore, Tennessee continues to attract businesses seeking to establish headquarters and R&D operations, as evidenced by Type One Energy Group\u2019s April 2024 announcement to set up its HQ and expand R&D operations in the state. The significant financial commitment enhances Tennessee’s reputation as a center for innovation and technology-driven enterprises.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\u201cTennessee has earned\na worldwide reputation\nfor being one of the best\nplaces to do business,\nnot just in the U.S. but\nacross the globe.\u201d<\/div>\n\t\t\t\n\t\t\t\t\t\t
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Bill Lee<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
Governor<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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TAXES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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top corporate income tax<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t#<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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on the Tax Foundation\u2019s\nState Tax Competitiveness\nIndex<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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EDUCATION<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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of students graduated high school in 2019<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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of adults age 25 and older have a bachelor\u2019s degree or higher<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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UNEMPLOYMENT RATE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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RIGHT TO WORK STATE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Yes<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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QUALITY OF LIFE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t#<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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POPULATION GROWTH<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t<\/span>\n\t\t\t\t0<\/span>\n\t\t\t\t%<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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increase between\n2020 and 2023\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\u201cKnoxville\u2019s innovative spirit aligns with the values our\nfounders, the Greenheck brothers, established more\nthan 75 years ago.... We couldn\u2019t be more excited to\nbecome part of the vibrant Knoxville community, which\nprovides not only strategic proximity to our customers\nbut also talented people, outstanding community partners and a welcoming culture.\u201d\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tRich Totzke<\/span>CEO, Greenheck Group<\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\u201cOur partners in Morristown and the broader East Tennessee community have played an integral role in the\nsuccess of Howmet Aerospace\u2019s Morristown operations.\nWe\u2019re so very proud of these long--standing relationships that have enabled us to grow and prosper over the\npast several decades.\u201d\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tMerrick Murphy<\/span> President of Engine Products, Howmet Aerospace <\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\u201cJohnson City and the state of Tennessee have been\nvital in LPI\u2019s path of becoming the largest hot tub\nmanufacturer in the USA\u2026. The employee base and\nadvantages Johnson City offers are second to none\nin our eyes, and we are thankful to be a part of it.\u201d \t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\tDavid Hatley<\/span>CEO, MD Carts <\/span><\/cite>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tKEY INCENTIVES\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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FastTrack Job Training Assistance <\/strong>Program: <\/strong>Offers grants to assist new or expanding companies to fund training for new employees.<\/p>

FastTrack Economic Development Fund: <\/strong>Offers a grant to offset costs for eligible companies expanding or locating a business in Tennessee.<\/p>

Job Tax Credit: <\/strong>Offers a credit of $4,500 per job to offset up to 50% of franchise and excise (F&E) taxes in any given year, with a carry forward for up to 15 years.<\/p>

Industrial <\/strong>Machinery Tax Credit: <\/strong>Offers a credit of up to 10% for the purchase, third-party installation and repair of qualified industrial machinery.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tEDCs\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Tennessee Department of Economic & Community Development<\/b><\/h5>

tnecd.com<\/p>

Nashville Area Chamber of Commerce<\/b><\/h5>

nashvillechamber.com\/economic-development<\/p>

Greater Chattanooga Economic Partnership<\/b><\/h5>

greaterchatt.com<\/p>

Knoxville Chamber of Commerce Economic Development<\/b><\/h5>

knoxvillechamber.com\/economic-development<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tHIGHLIGHTED PROGRAM OR INITIATIVE\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Volunteer State is emerging as a nationwide hub for nuclear R&D. In October 2024, the state announced that Tennessee Tech University would receive funding from the $50 million Tennessee Nuclear Energy Fund to support existing programs and implement a new nuclear education curriculum. Tech established nuclear engineering programs that will include principles of nuclear energy production, reactor systems design, spent fuel processing, nuclear safety and nuclear cybersecurity.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tBIG DEALS\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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  • Type One Energy Group announced in February 2024 it will expand operations and establish its headquarters in the state. The $223 million project will create 330 jobs.<\/li>
  • Landmark Ceramics announced in March 2024 a $71 million expansion and 78 new jobs at its plant in Mt. Pleasant.<\/li>
  • Greenheck Group announced in April 2024 a $300 million corporate campus and 440 new jobs in Knoxville.<\/li>
  • PPG announced in May 2024 a $225 million manufacturing facility and 129 new jobs in Loudon County.<\/li>
  • France-based company OPmobility announced in June 2024 a $3 million expansion and 186 new jobs at its plant in Spring Hill.<\/li>
  • The Anderson-DuBose Company announced in October 2024 it will invest $40 million and create 80 jobs at a facility in Jefferson City.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    \n\t\t\t\t\n\t\t\t\t<\/i>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t
    \n\n\t\t\t\t\t\t\t\t\t

    \n\t\t\t\t\t\t\n\t\t\t\t\t\t\tBIG COMPANIES\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
    \n\t\t\t\t
    \n\t\t\t\t\t\t\t\t\t

    Ten Fortune 500 companies headquartered in state, including:<\/p>

    • FedEx<\/li>
    • HCA Healthcare<\/li>
    • Dollar General<\/li>
    • International Paper<\/li>
    • Delek US Holdings<\/li>
    • AutoZone<\/li>
    • Tractor Supply<\/li>
    • Community Health Systems<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

      CEO Guide to Site Selection Tennessee BLUE OVAL AND BEYOND Tennessee has witnessed notable investments and expansions in the past couple of years, particularly in manufacturing and healthcare. BlueOval City, a $5.6 billion mega campus in Stanton, continues to grow and attract new tenants. Avancez announced in March 2023 a $54 million investment and more […]<\/p>\n","protected":false},"author":965,"featured_media":0,"parent":59194,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-246480","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nTennessee<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/chiefexecutive.net\/best-worst-states-business\/tennessee\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tennessee\" \/>\n<meta property=\"og:description\" content=\"CEO Guide to Site Selection Tennessee BLUE OVAL AND BEYOND Tennessee has witnessed notable investments and expansions in the past couple of years, particularly in manufacturing and healthcare. 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