Tennessee, which landed one of the top economic prizes last year from the announced expansion of Volkswagen's Chattanooga assembly plant, has once again ranked among the best states in economic development by Area Development magazine.
The publication awarded its top Gold Shovel awards for 2015 to Tennessee, Georgia, Texas, South Carolina and Nevada in recognition of projects undertaken in 2014 which created significant new investment and a large number of high-value-added new jobs. The Volunteer State last received Gold Shovel awards in 2012 and 2009 and Silver Shovel awards in 2011 and 2010.
"At a tme of intensifying competition, these states and communities have proven that they understand what makes for winning economic development strategies," Area Development said in a statement today. "Their governors and legislatures not only have determinedly held the line on taxes, in most cases, but also have relentlessly pursued other paths to business-friendliness, including providing reasonable incentives, improving infrastructure, training workforces, and establishing an overall environment of cooperations with business that helps create virbrant new economic presence in communites."
The $900 million expansion announced last July by Volkswagen will bring a new sports utility vehicle and 2,000 production and engineering jobs to VW's Chattanooga facility.
"This award demonstrates the intense focus our state places not only on supporting existing industry growth, but also the importance of recruiting new projects which ultimately create high quality jobs for Tennesseans," said Randy Boyd, commissioner of Economic and Community Development in Tennessee.
A report on the 2015 Shovel Award winners is published in the current issue of Area Development and posted online atwww.areadevelopment.com/shovels.