Tennessee

Quick Facts

Tennessee Governor Bill Haslam

 

  • Capital: Nashville
  • Population (2012 Est.): 6,456,243
  • Largest Cities (2012): Memphis, 655,155; Nashville-Davidson (balance), 624,496; Knoxville, 182,200; Chattanooga, 171,279
  • Targeted Industries: Manufacturing, Automotive, Energy Technology, Logistics, Entertainment & Media, Chemicals/Rubber/Plastics
  • GDP (All Industry 2012): $277.0 billion*

*Bureau of Economic Analysis, U.S. Department of Commerce

tennessee

Incentives

State Industrial Access Program: Funds the construction of roadways to support industrial areas based on project type, economic benefit, physical constraints and available funding.

Tennessee Valley Authority: The Tennessee Valley Authority offers a number of incentives and services, including:

  • TVA Valley Investment Initiative: electricity bill credits to qualified power customers
    who make significant commitments to invest in the Tennessee Valley.
  • TVA Economic Development Loan Funds: loans with below-market interest rates to
    financially sound companies which are relocating or expanding their operations in the
    Tennessee Valley.
  • TVA Special Opportunities Counties Fund: a revolving loan fund which can be de
    ployed in the Valley’s most economically distressed counties for buildings, equipment, real estate, industrial parks and building development.

Local Incentives: Negotiated by local communities at their discretion and on a case-by-case basis. Examples include:

  • Payment in Lieu of Taxes (PILOT) Program: Industrial Development Boards (IDBs) can provide reduced or fully abated taxes for real and/or personal property.
  • Tax Increment Financing (TIF): Communities can establish TIFs, which provide non-recourse loans to a developer that is secured by incremental local tax revenues.
  • Grants: Communities can provide companies with grants for various expenditures; these grants are most often awarded as matching funds for state FastTrack Infrastructure and Training grants.
  • Land: Communities can provide companies with free or below market-rate land, which is often located in a community’s industrial or technology park.

FINANCING

FastTrack Economic Development Fund: Grant covering relocation expenses, temporary office space, capital improvements, retrofitting and other expenditures not covered by infrastructure or job training grants. It is only used in exceptional cases where a company’s impact on a given community is significant.

FastTrack Infrastructure Program: Infrastructure grants for rail, roadway, port, airport, water, sewer, gas, telecommunication or other site improvements. Grantees are local communities only; must be for public infrastructure improvements benefiting a specific company generating new jobs and investment; requires local matching funds.

TAX INCENTIVES

Job Tax Credit: 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. Eligible businesses must create at least 25 new jobs within a 36 month period and invest at least $500,000 in a qualified business enterprise.

Enhanced Job Tax Credit: Allows an additional annual credit for locations/expansions in designated Tier 2 and Tier 3 Enhancement Counties. Enhanced JTC can offset up to 100% of F&E liability for either a three or five year period as determined by the Tier. Eligible companies must create at least 25 new jobs within a 36 month period and invest at least $500,000 in a qualified business enterprise.

  • Tier 2: $4,500 job tax credit plus additional three years annual credit at $4,500 per year with no carry
  • Tier 3: $4,500 job tax credit plus additional five years annual credit at $4,500 per year with no carry forward.

Super Job Tax Credit: Credit of $5,000 per new job to offset
up to 100% of F&E tax liability for a period of three to 20 years, depending on investment amount; no carry forward.

  • A business must invest $100 million or more and create a minimum of 100 new jobs paying at least 100% of TN’s average occupational wage; OR
  • Establish or expand a headquarters location, invest at least $10 million and create 100 new HQ jobs paying at least 150% of TN’s average occupational wage.

Industrial Machinery Tax Credit: Credit of 1% to 10% for the purchase, third-party installation and repair of qualified industrial machinery.

  • Manufacturing: includes purchases for machinery; apparatus and equipment with parts; appurtenances and accessories; repair parts and labor; computer; network; software or peripheral computer devices.
  • Warehousing and distribution: includes material handling equipment and racking systems with a minimum $10M capital investment within 36 months; computer; network; software or peripheral computer devices.
  • Headquarters, data centers, call centers: includes computer; network; software or peripheral computer devices.

Manufacturing Sales and Use Tax Exemptions: State sales tax exemption for industrial machinery and reduced state sales tax rate for utilities at qualified manufacturing facilities. Exemptions include industrial machinery, repair parts, industrial supplies, water, gas, electricity and various energy sources used in the manufacturing process. Reductions include: 0-1.5% tax on water depending on use and 0-1.5% on gas, electricity and various energy sources depending on use.

Headquarters Sales and Use Tax Exemptions: Reduced state sales tax rate for qualified personal property purchased for a qualified headquarters facility. Investment period begins one year prior to construction/expansion and ends one year after construction/expansion has concluded, but can be extended to six years with permission from the state. HQs receive a non-expiring sales tax credit for 6.5% for qualified personal property directly related to job creation.

Warehouse/Distribution Sales and Use Tax Exemptions: State sales tax exemption for certain equipment purchased for a qualified warehouse or distribution center. Investment of $10 million or more, including the purchase of new equipment, made during a three year period. Exemptions include equipment purchased for use in the storage, handling or movement of personal property.

Call Center Sales and Use Tax Exemptions: Tax exemption on any sales of interstate telecommunication and international telecommunication services to a business for use in the operation of one or more qualified call centers. Must have at least 250 jobs engaged primarily in call center activities.

Data Centers Sales and Use Tax Exemptions: State sales tax exemption for certain hardware and software purchased for a qualified data center. Minimum capital investment of $250 million and 25 new jobs paying at least 150% of the state’s average occupational wage; investment must be made during a three year period, but can be extended to five years for investments under $1 billion or seven years for investments exceeding $1 billion with the state’s permission. Exemptions include computers, computer systems, and computer software used in qualified data centers. Reduction includes a 1.5% tax rate on electricity.

WORKFORCE DEVELOPMENT

FastTrack Training Program: Grant assisting companies with training expenses and the development of customized training plans. Funding levels are based on the number of new jobs created, the amount of capital invested, wages and types of skills/knowledge needed.

Applicant Recruitment and Screening: Free assistance with the recruitment and screening of job applicants based on a company’s specific job requirements. There are more than 70,000 potential employees in the statewide database.

Economic Development Board of Blount County (EDB)

Bryan Daniels, CEcD, CCE, IOM
President & CEO
201 South Washington Street
Maryville, TN 37804
865-273-1216
fax: 865-984-1386
[email protected]
www.blountindustry.com/

Years ago, many companies came to Blount County, Tennessee because of low taxes, inexpensive labor and land. Today, companies come because of its quality of life and strategic location.

Blount-Partnership_logo

State Listings

  • Tennessee Department of Economic & Community Development

    Bill Haggerty
    Commissioner
    312 Rosa L. Parks Avenue, 11th Floor
    Nashville, TN 37243
    P: 615-741-1888
    [email protected]
    www.state.tn.us/ecd/

 

Utility Listings

  • Bristol Tennessee Essential Services (BTES)

    April Eads, CEcD
    Business Development Manager
    2470 Volunteer Parkway, P.O. Box 549
    Bristol, TN 37621
    P: 423-793-5532
    [email protected]
    www.btes.net
  • Tennessee Valley Authority

    John J. Bradley
    Senior Vice President, Economic Development
    P.O. Box 292409
    Nashville, TN 37229-2409
    P: 615-232-6051
    [email protected]
    www.tvaed.com

 

Regional Listings

  • Chattanooga Area Chamber of Commerce

    Steve Hiatt
    Director of Existing Business Development
    811 Broad Street
    Chattanooga, TN 37402
    P: 423-763-4333
    [email protected]
    www.chattanoogachamber.com/
  • Clinch-Powell RC&D Council

    Lindy Turner
    Executive Director
    7995 Rutledge Pike, P.O. Box 379
    Rutledge, TN 37861
    P: 865-828-5927
    [email protected]
    www.clinchpowell.net
  • Douglas-Cherokee Economic Authority, Inc.

    Susan Luker
    Executive Director
    P.O. Box 1218
    Morristown, TN 37816
    P: 866-631-4120
    [email protected]
    www.douglascherokee.org
  • East Tennessee Economic Development Agency

    Allen Neel
    President & CEO
    10215 Technology Drive, Suite 202
    Knoxville, TN 37923
    P: 865-777-3833
    [email protected]
    www.eteda.org
  • Four Lake Regional Industrial Development Authority

    Don Rigsby
    Executive Director
    702 McMurry Blvd.
    Hartsville, TN 37074
    P: 615-374-4607
    [email protected]
    www.fourlake.org
  • Knoxville Chamber of Commerce

    Rhonda Rice
    Executive Vice President
    17 Market Square, Suite 201
    Knoxville, TN 37902-1405
    P: 865-246-2643
    [email protected]
    www.knoxvillechamber.com
  • Knoxville Oak Ridge Innovation Valley

    Doug Lawyer, CEcD
    Vice President of Economic Development
    17 Market Square, Suite 201
    Knoxville, TN 37902
    P: 865-637-4550
    [email protected]
    www.knoxvilleoakridge.com
  • Memphis Regional Chamber

    Mark Herbison
    Senior VP, Economic Development
    22 North Front Street, 2nd Floor
    Memphis, TN 38103
    P: 901-543-3500; 901-543-3516
    [email protected]
    www.memphischamber.com
  • Middle Tennessee Industrial Development Association

    George W. (Bill) Shuff
    Executive Director
    2108 Westwood Avenue
    Nashville, TN 37212
    P: 615-269-5233
    [email protected]
    www.mtida.org
  • Southeast Industrial Development Association (SEIDA)

    Beth Jones
    Executive Director
    1000 Riverfront Parkway, P.O. Box 4757
    Chattanooga, TN 37405-0757
    P: 423-424-4241
    [email protected]
    www.seida.info
  • Southwest Tennessee Development District

    Joe W. Barker
    Executive Director
    102 East College Street
    Jackson, TN 38301
    P: 731-668-6402
    [email protected]
    www.swtdd.org
  • Tellico Reservoir Development Agency (TRDA)

    Ron Hammontree
    Executive Director
    59 Excellence Way
    Vonore, TN 37885
    P: 800-562-8732
    [email protected]
    www.tellico.com
  • West Tennessee Industrial Association

    Mike Philpot, CEcD
    Executive Director
    26 Conrad Drive
    Jackson, TN 38305
    P: 731-668-4300
    [email protected]
    www.wtia.org; www.dealready.com

 

County Listings

  • Campbell County Economic Development

    E. L. Morton
    Executive Director
    1016 Main Street
    Jacksboro, TN 37757
    P: 423-566-0329
    [email protected]
    www.campbellcountychamber.com
  • Clarksville/Montgomery County Economic Development Council

    Mike Evans
    Executive Director of the Industrial Development Board & Vice President of Economic Development
    25 Jefferson Street, Suite 300
    Clarksville, TN 37040
    P: 931-245-4348
    [email protected]
    www.clarksvillepartnership.com
  • Cocke County Partnership/Economic Development Commission

    Donald Hurst, CEcD
    President
    433 Prospect Avenue
    Newport, TN 37821
    P: 423-623-3008
    [email protected]
    www.edcncctn.com/
  • Development Corporation of Knox County

    Todd Napier
    President & CEO
    17 Market Square, Suite 201
    Knoxville, TN 37902
    P: 865-546-5887
    tanapier@knoxdevelopme[email protected]
    www.knoxdevelopment.org
  • Dyersburg/Dyer County Chamber of Commerce

    Allen Hester, CCE
    President & CEO
    2000 Commerce Avenue
    Dyersburg, TN 38024
    P: 731-285-3433
    [email protected]
    www.dyerchamber.com
  • Economic Development Board of Blount County (EDB)

    Bryan Daniels, CEcD, CCE, IOM
    President & CEO
    201 South Washington Street
    Maryville, TN 37804
    P: 865-273-1216
    [email protected]
    www.blountindustry.com
  • Economic Development Growth Engine (EDGE) for Memphis & Shelby County

    Reid Dulberger
    President & CEO; Chief Economic Development Officer for Memphis/Shelby Co.
    100 Peabody Place, Suite 100
    Memphis, TN 38103-3652
    P: 901-941-2100
    [email protected]
    www.growth-engine.org
  • Forward Sumner Economic Partnership

    Jimmy Johnston
    President & CEO
    P.O. Box 1071
    Hendersonville, TN 37077
    P: 615-822-7610
    [email protected]
    www.forwardsumner.org
  • Greater Gibson County Area Economic Development

    Shelby Kee
    Executive Director
    200 East Eaton Street
    Trenton, TN 38382
    P: 731-855-0973
    [email protected]
    www.gibsoncountytn.com
  • Greene County Partnership

    Tom Ferguson
    President & CEO
    115 Academy Street
    Greeneville, TN 37743-5601
    P: 623-638-4111
    [email protected]
    www.greenecountypartnership.com
  • Hickman County Economic & Community Development Association

    Patrick Hite
    Executive Director
    130 Progress Center Plaza, P.O. Box 204
    Centerville, TN 37033-0204
    P: 931-729-5953
    [email protected]
    www.hickmantn.org/
  • Joint Economic & Community Development Board of Wilson County

    GC Hixson, CEcD
    Executive Director
    115 North Castle Heights Avenue, Suite 102
    Lebanon, TN 37087
    P: 615-443-1210
    [email protected]
    www.doingbiz.org
  • Loudon County Economic Development Agency

    Patrick Phillips
    President
    274 Blair Bend Drive
    Loudon, TN 37774
    P: 865-458-8889
    [email protected]
    www.loudoncountyeda.org/
  • Maury Alliance

    Wil Evans
    President
    106 West 6th Street, P.O. Box 1076
    Columbia, TN 38402
    P: 931-388-2155
    [email protected]
    www.mauryalliance.com
  • McMinn County Economic Development Authority

    Kathy Knight
    Executive Director
    McMinn County Courthouse Annex, 5 South Hill Street, P.O. Box 767
    Athens, TN 37371-0767
    P: 423-745-1506
    [email protected]
    www.mcminncoeda.org
  • McMinnville-Warren County Industrial Development Board

    George Burke
    Director of Economic Development
    110 South Court Square, Suite A200
    McMinnville, TN 37110
    P: 931-474-4769
    [email protected]
    www.wcidb.com
  • Monroe County Office of Economic Development

    Shan Harris
    Director
    103 College Street, Suite 6
    Madisonville, TN 37354
    P: 423-442-3652
    [email protected]
    www.monroeeconomicdevelopment.com/
  • Obion County Joint Economic Development Council

    Lindsay Frilling
    Executive Director
    214 East Church Street
    Union City, TN 38261
    P: 731-885-0211
    [email protected]
    www.obioncounty.org
  • Paris/Henry County Economic Development Corporation

    David Hamilton
    CEO & Director
    2508 East Wood Street
    Paris, TN 38242
    P: 731-642-3431
    [email protected]
    www.parishenrycoedc.com
  • Pulaski-Giles County Economic Development Commission

    Dan Speer
    Executive Director
    203 South First Street
    Pulaski, TN 38478
    P: 931-363-9138
    [email protected]
    www.gilescountyedc.com
  • Rhea Economic & Tourism Council

    Penny Hicks
    Executive Assistant
    Rhea County Welcome Center, 107 Main Street
    Dayton, TN 37321
    P: 423-775-6171
    [email protected]
    www.rheacountyetc.com
  • Roane Alliance

    Darrell Williams
    Vice President, Business Development
    1209 North Kentucky Street
    Kingston, TN 37763
    P: 865-376-5572
    [email protected]
    www.roanealliance.org
  • Rutherford County Chamber of Commerce

    Brian D. Hercules
    Vice President of Economic Development
    3050 Medical Center Parkway
    Murfreesboro, TN 37129
    P: 615-278-2393
    [email protected]
    www.rutherfordchamber.org
  • Sullivan County Economic Development Commission

    Richard S. Venable
    CEO
    P.O. Box 747
    Blountville, TN 37617
    P: 423-279-7684
    [email protected]
    www.networkstn.com
  • Washington County Economic Development Council

    Mitch Miller
    Interim CEO
    300 East Main Street, Suite 406
    Johnson City, TN 37601
    P: 423-202-3510
    [email protected]
    www.thewcedc.com
  • Williamson County Office of Economic Development

    Jeremiah Pyron
    Interim-Director, Economic Development
    5005 Meridian Boulevard, Suite 150
    Franklin, TN 37067
    P: 615-261-2883
    [email protected]
    www.williamsonprospers.com

 

City Listings

  • City of Bartlett Planning & Economic Development Department

    Terry Emerick
    Director
    6382 Stage Road
    Bartlett, TN 38134
    P: 901-385-6417
    [email protected]
    www.cityofbartlett.org
  • City of Clarksville

    Jennifer Rawls
    Director of Communications/Public Information Officer
    One Public Square, 4th floor
    Clarksville, TN 37040
    P: 931-648-6128
    [email protected]
    www.cityofclarksville.com
  • City of Knoxville Community Development

    Becky Wade
    Director of Community Development
    City County Building, 400 Main Street, Room 532
    Knoxville, TN 37902-1405
    P: 865-215-2865
    [email protected]
    www.cityofknoxville.org
  • Collierville Chamber of Commerce

    Fran Persechini
    President & CEO
    485 Halle Park Drive
    Collierville, TN 38017
    P: 901-853-1949
    [email protected]
    www.colliervillechamber.com
  • Gallatin Economic Development Agency

    James Fenton
    Executive Director
    132 West Main Street, P.O. Box 773
    Gallatin, TN 37066
    P: 615-451-5940
    [email protected]
    www.GallatinGetsIt.com
  • Greater Memphis Chamber

    Leigh Anne Downes
    Director, Economic Development
    22 North Front Street, Suite 200
    Memphis, TN 38103-2100
    P: 901-543-3540
    [email protected]
    www.memphischamber.com
  • Millington Planning & Economic Development

    Darek Baskin
    Director
    4836 Navy Road, Suite 3
    Millington, TN 38053
    P: 901-872-3410
    [email protected]
    www.millingtontn.gov
  • Morristown Area Chamber of Commerce

    Marshall Ramsey
    President
    P.O. Box 9
    Morristown, TN 37815
    P: 423-586-6382
    [email protected]
    www.morristownchamber.com
  • Nashville Area Chamber of Commerce

    Janet Miller
    Chief Economic Development & Marketing Officer
    211 Commerce Street, Suite 100
    Nashville, TN 37201
    P: 615-743-3079
    [email protected]
    www.nashvilleareainfo.com
  • Oak Ridge Chamber of Commerce

    Parker Hardy
    President & CEO
    1400 Oak Ridge Turnpike
    Oak Ridge, TN 37830
    P: 865-483-1321
    [email protected]
    www.oakridgetn.org
  • Sparta-White County Chamber of Commerce

    Jody Patrick Sliger, CTTP
    Tourism & Marketing Director
    16 West Bockman Way
    Sparta, TN 38583
    P: 931-836-3552
    [email protected]
    www.sparta-chamber.net