Volkswagen's $600 million expansion of its Chattanooga plant announced last July was among the top 10 business deals in North America during 2014, according to Site Selection magazine.
The Top North American deals in 2014
1. Alevo, Concord, N.C., $1 billion, 2,500 jobs 2. BMW, San Luis Potosi, Mexico, $1 billion, 1,500 jobs 3. Giti Tire, Richburg, S.C., $560 million, 1,700 jobs 4. Northrop Grumman, Melbourne, Fla., $500 million, 1,800 jobs 5. Renault-Nissan Alliance/Daimler, Aguascalientes, Mexico, $1.4 billion, 5,700 jobs 6. Shandong Tranlin Paper, Richmond, Va., $2 billion, 2,000 jobs 7. SolarCity, Buffalo, N.Y., $5 billion, 1,450 jobs 8. Tesla, Reno, Nev., $4 billion, 6,500 jobs 9. Toyota, Plano, Texas, $350 million, 4,000 jobs 10. Volkswagen, Chattanooga, $600 million, 2,000 jobs
In its annual Best to Invest rankings, the business publication rated VW's addition as the 10th biggest business investment last year. Volkswagen plans to add 2,000 jobs -- and should generate thousands of other spinoff jobs -- from its decision to begin making a sports utility vehicle in Chattanooga by 2017.
The VW addition was the biggest deal in Tennessee last year and helped keep the Volunteer State among the most competitive states in America again last year for attracting new industry.
Tennessee, which placed second among all states for 2013 recruitment, fell to No. 5 last year.
Georgia, which was ranked as the most competitive state in 2013 by Site Selection, fell to No. 10 last year.
North Carolina was rated the best state overall.
"Rest assured North Carolina remains a great place to open or expand your business," North Carolina Commerce Secretary John E. Skvarla III said in a statement Tuesday. "We have a superior tax and regulatory environment, highly skilled workforce and outstanding quality of life in addition to a flexible and wide variety of economic development programs to assist business with growth opportunities."
Most of the magazine's criteria is derived from its proprietary new plant database.
North Carolina, with 409 points, narrowly beat Louisiana's 408.5, and the rest of the top five were not far behind: Texas finished third with 406, South Carolina was fourth (405.5) and Tennessee placed fifth (404).
"Seven of the top ten states are in the Southeast, which points to that region's sustained competitiveness over the past decade," said Mark Arend, the editor of Site Selection. "Three are in the Midwest, including two of the three new right-to-work states in that region Michigan and Indiana. A correlation is possible but not provable by our estimation, but the Midwest's reemerging competitiveness will be fascinating to watch."
Arend said most of the top states switch around in the top rankings each year.
The Top Deals of 2014 were determined by the amount of capital investment and job creation connected to private-sector facility investment projects around the world during the 2014 calendar year.
"Vehicles, energy, high-tech and Elon Musk dominate this year's lists," said Adam Bruns, managing editor of Site Selection.
Site Selection magazine, published by Conway, Inc. since 1954, delivers expansion planning information to 48,000 subscribers.
Contact Dave Flessner at dflessner@timesfreepress.com or at 757-6340.