For the 13th consecutive year, Site Selection magazine has named the Tennessee Valley Authority among the top 10 utilities in the United States for economic development.
Last year, TVA’s economic development program aided in the recruitment or expansion of $8.3 billion of new corporate investment. Collectively, those projects are expected to add 70,000 new jobs in TVA’s 7-state region.
Among the major projects TVA helped land last year was the $360 million tire production plant by the Finland-based Nokian Tyres in Dayton, Tennessee and the $1.6 billion Toyota-Mazda joint venture in Huntsville, Alabama.
TVA is poised to do even better this year. At the TVA board meeting last month, the federal utility disclosed that it had already created or retained $10.2 billion in capital investment so far in 2018. Those projects are expected to add 54,000 jobs across the Tennessee Valley.
“TVA was founded in 1933 to bring jobs and investment to the Valley,” said John Bradley, senior vice president of economic development for TVA. “It’s ingrained in our mission of service, and it underscores much of what we do to make our region a great place to live and work. We don’t do it for investors-we do it for the people of the Valley.”