Tennessee remains among the best states for doing business, according to a new survey of the nation’s top business leaders released by Chief Executive magazine, which bills itself as “the Voice of America’s CEOs.”
Tennessee once again ranked No. 3 among the 50 states for its business environment, behind Texas and Florida, in rankings by CEOs.
“While Tennessee may be known as the Volunteer State, it’s all about profit and economic growth,” Dale Buss, a contributing editor for Chief Executive magazine, writes in the new issue. “Several hot sectors currently include manufacturing, tech and the electric vehicle industry. German automaker Volkswagen just announced over the summer the start of production of its all-electric ID.4 SUV at its manufacturing facility in Chattanooga. Meanwhile, Ford broke ground in Stanton to build the largest auto production complex constructed in the company’s 119-year history.”
The magazine highlights major deals in 2022, including the $200 million expansion announced by chemical maker Wacker that will add another 200 jobs in Charleston, Tennessee, and the development of a new $24 million iFixit distribution hub with 201 more jobs in Chattanooga.
In a statement to the magazine, Tennessee Gov. Bill Lee said the state’s “strong business climate, skilled workforce and central location make Tennessee the ideal location for businesses to thrive.”