Bill HaslamBusiness Facilities, a national publication focused on site selection and economic development, has named Tennessee its 2014 State of the Year for a second consecutive year.
Tennessee becomes the first state in the award’s history to win back-to-back honors for economic development efforts and the first state to win the designation three times, winning in 2014, 2013 and 2009.
“Businesses continue to make the decision to locate, expand and grow here, and we are grateful for those strong partnerships,” Tennessee Gov. Bill Haslam said in a statement today. “We will continue doing all we can to make sure we offer an attractive business climate and skilled workforce to be the No.1 location in the Southeast for high quality jobs.”
Major economic development projects announced in 2014 included Volkswagen Group of America’s Chattanooga expansion creating 2,000 jobs with an investment of $600 million, Under Armour’s new Mount Juliet fulfillment center creating 1,500 jobs with an investment of more than $100 million, SL Tennessee’s Clinton expansion creating 1,000 jobs with an $80.5 million investment and Conduit Global’s new Memphis call center creating 1,000 jobs with an $8 million investment.
“Our historic wins validate the incredible momentum, fierce competitiveness and promising future that Tennessee possesses and emphasizes our intense focus on recruiting expanding and new companies,” said Bill Hagerty, commissioner for economic and community development in Tennessee.
The magazine cited Tennessee’s successful execution of a diversified growth strategy, as well as an emphasis on infrastructure and education, as key factors in securing consecutive victories.
“Tennessee is one of a handful of states that have clearly made economic development priority No. 1,” Business Facilities Editor Jack Rogers said. “With a powerhouse automotive cluster, world-class infrastructure and the nation’s most improved education system, we could be looking at a State of the Year dynasty in the making.”
Tennessee has also fared well in Business Facilities’ annual rankings report, finishing first in the “Education: Race to the Top” category, second in “Best Infrastructure” and being named the top state for “Automotive Manufacturing Strength” for four of the past five years.