TVA Economic Development Efforts Spur $5.9 Billion In Investments In FY 2012

Wednesday, November 14, 2012

Tennessee Valley Authority economic development programs ? including technical services, research and financial assistance ? helped stimulate $5.9 billion in business investments in the TVA service area in fiscal year 2012.

John Bradley, TVA senior vice president of Economic Development, said TVA’s efforts also helped attract or retain 48,000 jobs, bringing TVA’s economic development contributions to more than 300,000 new or retained jobs and $32 billion in business investment since 2005.

“Creating jobs, helping local communities, and improving quality of life in the Tennessee Valley is what TVA Economic Development is all about. We thank our many partners ? local power companies, industry, state and local officials, and others ? for helping make these programs so successful,” Mr. Bradley said.

In 2012, TVA’s economic development activities helped recruit or expand more than 150 companies and contributed to the following job totals and business investments for the TVA service area:

  • Alabama : 7,800 jobs and $1.2 billion
  • Kentucky: 4,800 jobs and $957 million
  • Middle Tennessee: 11,700 jobs and $1.2 billion
  • Mississippi: 5,100 jobs and $504 million
  • Northeast Tennessee and Virginia: 6,300 jobs and $506 million
  • Southeast Tennessee, Georgia and North Carolina: 4,450 jobs and $412 million
  • West Tennessee: 8,400 jobs and $1.0 billion

           TVA in 2012 won a Gold Award for its Megasites Program from the International Economic Development Council for excellence in economic development. Bill Adams, TVA Target Market specialist, conceived the idea of creating a “catalog of certified sites.” The program, which teams TVA with local partners to market large industrial tracts to manufacturers, remains one of TVA’s most successful economic development efforts. 

Megasite tenants include Volkswagen, which opened a $1 billion Passat factory on a Megasite in Chattanooga in May 2011; and Toyota, which in 2007 selected a Megasite near Tupelo, Miss., for a plant to build Corollas. TVA’s two remaining megasites are near Hopkinsville, Ky., and Stanton, Tenn. For more information, on TVA’s Megasites program, visit http://www.TVAed.com/megasites.htm.

In September, TVA was named for the seventh straight year to Site Selection magazine’s list of the top 10 utilities in North America for economic development. The Site Selection rankings are based on a number of factors, including project activity, input from corporate end users and site consultants, website tools and data, and innovative programs and incentives for business.

Four new locations in the Valley region were identified in fiscal year 2012 for potential development under TVA’s program to attract data centers. The new locations are in Warren County, Tn. (two sites), Hopkinsville, Ky., and Cookeville, Tn., raising the total number of potential data center sites identified in the program to 22. For more information see www.TVAed.com/datacenters/.

TVA Economic Development staff and leadership also were honored in 2012. Bradley was named by Southern Business and Development magazine as one of the Top 10 economic developers in the South; TVA Business recruitment specialist Tim Tidwell was a co-recipient of the first Excellence in Economic Development Award from the Site Selectors Guild. TVA staff conducted dozens of Community Development workshops in 2012 to help communities identify economic opportunities and be more competitive. TVA staff also provided help with financial assistance through programs such as the Valley Investment Initiative, technical services, economic research, proposal writing, training and other services.

In addition, the Rural Development Strategy focuses on supporting economic development efforts in rural and economically distressed areas. The Retail Development assistance program also helps foster business growth for commercial businesses.

Business investments and expansions from companies participating in TVA Economic Development programs in 2012 include $53.7 million and 800 jobs by Magneti Marelli’s new automotive lighting production operation in Pulaski, Tenn.;  $500 million and 200 jobs from Carpenter Technology Corporation to build a premium metals plant near Athens, Ala., in Limestone County; $8 million and 500 jobs from Agero, a global driver assistance services firm, in Clarksville, Tn.; $9.5 million and 207 jobs by Propulsys, a global manufacturer of hydraulic drive products,  in Hopkinsville, Ky.; $130 million and 150 jobs from Roxul, Inc., a leader manufacturer of stone wool insulation products in Byhalia, Ms.; and $15 million and 150 jobs at Mann+Hummel an original equipment supplier to the international automotive and mechanical engineering industries, in Dunlap, Tn.



Career Coach Goes To Eastdale Neighborhood Association

The Tennessee Department of Labor and Workforce Development’s mobile Career Coach will be at the Eastdale Apartments in Chattanooga, located at 1314 Moss St. on Friday, July 10, from noon-3 p.m. Career Coach staff will be helping area residents. They will be onsite to help people create resumes and register with Jobs4tn.gov where there are more than 90,000 jobsavailable.   ... (click for more)

Attorney General Announces Settlement Allowing Dollar Tree To Acquire Family Dollar

Tennessee Attorney General Herbert H. Slatery III announced Thursday the merger of two large national chains of deep discount stores, Dollar Tree, headquartered in Chesapeake, Va. and Family Dollar, headquartered in Matthews, NC. As part of the agreement, Dollar Tree will be required to divest hundreds of Family Dollar stores nationwide, including stores in Memphis and Nashville. ... (click for more)

Plumbers Bring Complaints To WWTA; Told New Contracts Are Ready

Several plumbers on Thursday brought complaints to a committee of the Hamilton County Water and Wastewater Treatment Authority (WWTA) and got little response other than being told that new contracts are ready. Kay Keefe of Keefe Plumbing said the small number of plumbing companies still participating in the program to repair leaky lines to homes, have long been operating without ... (click for more)

Commissioner Haynes Calls For Public Meetings On Discretionary Funds; Says Public Against Keeping Them

County Commissioner Marty Haynes on Thursday called for public meetings on the subject of the commissioners continuing to have $100,000 each in discretionary money. He said he had already been meeting with Hixson leaders on the topic. Commissioner Haynes was one of three commissioners who supported a move by County Mayor Jim Coppinger to remove $900,000 in discretionary funds ... (click for more)

Police Need To Stop The Road Cowboys - And Response (2)

Where is our highway patrol?  If they were known to regularly patrol our interstate highways through our city I don't think it would take long before the "truckers" were aware of it.  There are places in our country where this is the case.   When I have traveled Interstates 24 and 75 I may see the occasional car pulled over but rarely if ever is it an 18-wheeler. ... (click for more)

Roy Exum: My Pre-Fourth Observations

I hate to do this, right on the heels of my monthly ‘Walk in the Garden,’ but I have more things on my desk that I dare not leave unnoticed before tomorrow’s Star-Spangled celebration. Foremost is the plea to anyone who shoots off firecrackers to please wear eye protection and ask watchers to stand back. Our eye doctors say firecracker-related injuries have doubled in the last three ... (click for more)