The Tennessee Department of Economic and Community Development (ECD)’s mission is to develop strategies which help make Tennessee the No.1 location in the south east for high quality jobs. The department seeks to attract new corporate investment in the state and works with companies to facilitate expansion and economic growth.

A skilled workforce, outstanding transportation network and pro-business environment have earned Tennessee a solid reputation as a premier business location. Companies understand the advantages of locating in Tennessee, a state that touches eight bordering states and from which a business can access 76% of America’s major markets by road within a day.

Tennessee is also a distribution hub, boasting the world’s second busiest cargo airport in Memphis, home to FedEx. Both Memphis and Nashville offer international air passenger service and are connected to four other commercial services airports. Tennessee provides many options for industrial rail transportation. There are six Class 1 railroads in the state, the three largest being CSX Transportation, Norfolk-Southern Corporation and Canadian National/Illinois Central Railroad.

In 2015 ECD restructured its international efforts to shore-up global companies investments in the state and encourage international trade. The department refocused Foreign Direct Investment efforts and will open offices in 2016 throughout the globe, including Brazil, Western Europe, Eastern Europe, Korea and China. These locations are strategic to promote Tennessee to companies interested in opening North American operations. The department has also established a Regional Export Network across the state to better focus its investment in rural economic development and small and medium-sized business growth with increased inbound and outbound trade missions.

TARGET CLUSTERS

ECD’s recruitment efforts are focused on (but not limited to) six target clusters in which the state has a clear competitive advantage: Automotive; Chemical Products & Plastics; Transportation, Logistics & Distribution Services; Business Services; Health Care and Advanced Manufacturing & Energy Technologies.

ECD also partners with other state agencies and divisions, such as the Department of Agriculture; the Tennessee Film, Entertainment and Music Commission and the Department of Tourist Development to support additional means of economic development and job creation.

REGIONAL JOB BASE CAMPS

ECD has established jobs base camps in nine regions across the state that work with local partners in developing  regional economic development plans. ECD Regional Directors serve as a single point of contact for all jobs and business-related issues in the region. The nine economic development regions are made up by the Memphis Area; north west Tennessee; south west Tennessee; northern middle Tennessee; southern middle Tennessee; Upper Cumberland; south east Tennessee; north east Tennessee and east Tennessee.

INNOVATION INVESTMENTS

ECD manages a $50 million initiative designed to support innovation across the state named INCITE for its focus on innovation, commercialisation, investment, technology and entrepreneurship. The programme’s goal is to raise Tennessee’s profile in innovation-based economic development and drive growth in the creation of knowledge-based jobs.

INCITE initiatives include investing in key research opportunities to build innovation networks; working with the private sector to translate research and development into high quality jobs; creating an early stage, seed and  mezzanine capital co-investment fund to assist Tennessee companies with access to capital using state and  federal funding; supporting entrepreneurial incubators in each of the state’s regions and creating a statewide incubator network to share best practices.

REDUCING BUSINESS REGULATION

ECD works with existing Tennessee businesses, business advocacy groups and state agencies to identify federal and state laws inhibiting job growth. Options are then developed for modifying laws and regulations where costs outweigh benefits, while coordinating with local, state and federal officials.

Tennessee is a right-to-work state with no personal income tax and has one of the lowest regulatory and per capita tax burdens in the nation. We also have a toolkit of targeted incentives and programmes to help your company succeed. From tax credits to infrastructure grants to training programmes, Tennessee likely offers one or more programmes that can help your business thrive and grow.