The Tennessee Department of Economic and Community Development (TNECD) announced on Thursday the counties chosen to participate in the latest round of the Select Tennessee Property Evaluation Program (PEP).
The counties selected in this round of PEP include Anderson, Benton, Cheatham, Hardin, Henry, Marshall and Washington.
Started in 2015, PEP is designed to improve the inventory of industrial sites and buildings in Tennessee.
The program evaluates potential properties, advising counties on where investment may be most beneficial and how sites can be improved to attract prospective companies.
“Having available, shovel-ready sites is essential for Tennessee counties to remain competitive for industrial recruitment. Through PEP, these seven counties are taking the steps needed to become more marketable,” Department of Economic and Community Development Commissioner Bob Rolfe said. “I congratulate the counties chosen to participate in this program and look forward to seeing their future success through PEP.”
PEP originates from the department’s Select Tennessee Certified Site Program. With the assistance of site selection firm Austin Consulting, PEP benefits participating counties by providing guidance on site planning for future industrial development projects.
“As part of PEP, when local leadership takes a critical look at their real estate assets, they almost always come to an agreement on which properties are most competitive,” Director of Austin Consulting Jonathon Gemmen said. “With everyone on the same page, the appropriate next steps can be taken to improve their strongest sites and buildings.”
For counties selected to participate, PEP includes an on-site visit by Austin Consulting and TNECD, an educational webinar on the site selection process and a comprehensive assessment addressing the strengths and needs of a community’s inventory of industrial sites. This assessment also offers recommendations for communities to improve marketability.
PEP selection was based on the demonstrated local need for industrial properties and the county’s ability to assemble viable properties with market potential.
The application process begins with the submission of a letter of intent, which is accepted at any time. Upon receipt of the letter, interested communities will be provided with the PEP application. A new round of communities will be accepted into the program in the fall of 2018. For more details on the PEP, click here.