Tennessee Governor Bill Lee and Tennessee Department of Economic and Community Development (TNECD) Commissioner Stuart McWhorter recently wrapped up a six-day economic development trip to France and Italy, Lee’s office announced Monday.
The trip, which marked the governor’s second international economic development trip and first trade mission to Europe since taking office in 2019, allowed Lee and McWhorter to “discuss Tennessee’s economic advantages with numerous companies that are interested in establishing operations in Tennessee.”
TN has earned a worldwide reputation for being one the best places to do business, not just in the U.S. but across the globe.
Last week, @CommishTNECD & I made our first trade mission to Europe to meet with leading companies about all that TN has to offer.https://t.co/Cur46zlCoE
— Gov. Bill Lee (@GovBillLee) June 26, 2023
While in France, Lee and McWhorter attended the Paris Air Show to “meet with aerospace and advanced manufacturing industry leaders and discuss Tennessee’s economic advantages with numerous prospective companies that are interested in establishing operations in Tennessee.”
There are more than 70 current aerospace & defense establishments in Tennessee which employ over 9,400 Tennesseans. according to TNECD’s website. Over $878 million of aerospace products and parts are exported annually from the Volunteer State.
While in both France and Italy, Lee and McWhorter also met with executive leadership from multiple companies with current operations in Tennessee to “thank them for their ongoing investment in the state, discuss their global business plans, and welcome future expansions and additional investment that would create new jobs and opportunity for Tennesseans.”
More than 100 French and Italian companies currently operate in Tennessee and have generated a combined $2 billion in capital investment in the state, according to Lee’s office which also notes that approximately 13,500 Tennesseans are employed by French and Italian companies.
“Tennessee has earned a worldwide reputation for being one the best places to do business, not just in the United States but across the globe,” Lee said in a statement. “These European companies face the realities of high taxes and heavy regulations every day, and when they want to expand or relocate, our unmatched business climate and skilled workforce strategy place Tennessee at the top of their list.”
“Economic development brings more good jobs and greater opportunity for Tennesseans, and I look forward to welcoming continued investment to our state from leading companies around the world,” Lee added.
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Kaitlin Housler is a reporter at The Tennessee Star and The Star News Network.
Photo “Bill Lee” by Tennessee Office of the Governor.
More wasted money intended to lure companies to Tennessee by promising great tax breaks and cash from the economic “development” slush fund.
I figure that Tennessee would have been better off if Mr. Lee had just stayed in Europe.