Magazine names Tennessee top state for economic development

Magazine names Tennessee top state for economic development

January 14th, 2014 by Dave Flessner in Local - Breaking News

In this 2012 file photo, Tennessee Gov. Bill Haslam stands near the processing line at Amazon's Chattanooga fulfillment center at Enterprise South Industrial Park.

Photo by Associated Press/Times Free Press.

Tennessee is the "2013 State of the Year," according to Business Facilities magazine.

The monthly economic development publication recognized Tennessee for its job additions and business investments across a variety of industries, including its leading position in the growing automotive sector.

"Tennessee continues to impress us with its aggressive execution of a diversified growth strategy," Business Facilities Editor Jack Rogers said today. "The state has put in place a solid foundation for robust job creation for years to come."

The magazine picked Tennessee after evaluating the top five projects in each state for the number of jobs created and amount of capital invested from October 1, 2012 through October 31, 2013. Tennessee's top five economic development projects created a total of 6,900 jobs, $3.2 billion in capital investment and included seven expansions and three new recruitments.

"A lot of hard work goes into keeping Tennessee competitive, and I want to thank Business Facilities for recognizing the efforts of so many people across the state," Gov. Bill Haslam said in a statement today. "We understand that jobs are created when someone is willing to risk capital, and we will continue working to make Tennessee a great place to invest."

Tennessee was recognized by the magazine for the past four years as the No. 1 state for automotive manufacturing strength. Tennessee joins Texas as the only multiple winner in the award since its start in 2007.