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CEO Guide to Site Selection

Tennessee

BIG GROWTH IN BATTERIES

In November 2022, the Volunteer State landed the largest foreign direct investment in state history. LG Chem announced plans to invest more than $3.2 billion to establish a new cathode manufacturing facility in Clarksville to support the electric vehicle battery value chain in the United States. The project will create more than 850 jobs. 6K Energy also announced in April 2023 a $200 million battery material manufacturing plant in Jackson that will create 230 jobs. Duracell also announced a $25 million expansion of its manufacturing operations in Cleveland, Tenn.

“Thanks to Tennessee’s strong business climate, highly skilled workforce and central location, companies from across the globe continue to locate and expand in our state.”
Bill Lee
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

Fasttrack Job Training Assistance Program: Offers grants to assist new or expanding companies to fund training for new employees.

Fasttrack Economic Development Fund: Offers a grant to offset costs for eligible companies expanding or locating a business in Tennessee.

Job Tax Credit: 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.

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

EDCs

Tennessee Department of Economic & Community Development

tnecd.com

Nashville Area Chamber of Commerce

nashvillechamber.com/economic-development

Greater Chattanooga Economic Partnership

greaterchatt.com

Knoxville Chamber of Commerce Economic Development

knoxvillechamber.com/economic-development

HIGHLIGHTED PROGRAM OR INITIATIVE

In February 2023, the Tennessee Department of Economic and Community Development (TNECD) unveiled Fund Tennessee, which is made up of a suite of programs funded by the U.S. Department of the Treasury’s State Small Business Credit Initiative. The TNECD’s mission is to provide funding to empower small businesses to access capital needed to invest in job-creating opportunities.

BIG DEALS

  • In-N-Out Burger announced in January 2023 it will open a $125 million corporate hub in the state and create 275 jobs.
  • GE Appliances announced in August 2023 a $34 million expansion and 150 new jobs in Selmer.
  • RedDot Corporation announced in August a $18 million expansion and 50 new jobs in Memphis.
  • Bridgestone Americas announced in August 2023 a $550 million expansion and 380 new jobs in Warren County.
  • Malibu Boats announced in October 2023 a $75 million expansion and 770 new jobs in Roane County.
  • SGB Enterprises announced in October 2023 a relocation of its headquarters from California to Columbia.

BIG COMPANIES

10 Fortune 500 companies headquartered in state, including:

  • FedEx
  • HCA Healthcare
  • Dollar General
  • International Paper
  • Delek US Holdings
  • AutoZone
  • Tractor Supply
  • Community Health Systems
Roundtable

Strategic Planning Workshop

1:00 - 5:00 pm

Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process

Executives expressed frustration with their current strategic planning process. Issues include:

  1. Lack of systematic approach (70%)
  2. Laundry lists without prioritization (68%)
  3. Decisions based on personalities rather than facts and information (65%)

 

Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns.  They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning.  Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process.  This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented.  If you are ready for a Strategic Planning tune-up, select this workshop in your registration form.  The additional fee of $695 will be added to your total.

To sign up, select this option in your registration form. Additional fee of $695 will be added to your total.

New York, NY: ​​​Chief Executive's Corporate Citizenship Awards 2017

Women in Leadership Seminar and Peer Discussion

2:00 - 5:00 pm

Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations. 

Limited space available.

To sign up, select this option in your registration form. Additional fee of $495 will be added to your total.

Golf Outing

10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS

General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.

The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.

To sign up, select this option in your registration form. Additional fee of $295 will be added to your total.