When Elon Musk’s xAI supercomputer plan was announced in Memphis, there was not a press release from Tennessee’s Department of Economic and Community Development, meaning there is not a state FastTrack grant associated with the project.
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A Tennessee bill banning incentives for companies from countries of concern advanced in Senate committee after another costly part of the bill was removed.
Senate Bill 2426 previously banned tax credits for companies already receiving credits that are from China, Russia, Iran, North Korea, Cuba, Venezuela or Syria, along with adding tax credits for research and development from energy and tech companies.
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Tennessee’s Department of Economic and Community Development has handed out more than $8.8 million in incentives since it last posted FastTrack incentives for February.
Those include $3.4 million to Schneider Electric in Mount Juliet and Smyrna, $2.5 million to Shoals Technologies Group in Portland, $1.6 million to Nokian Tyres in Dayton and $1.3 million to an unnamed project.
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Tennessee Governor Bill Lee and Department of Economic and Community Development (TNECD) Commissioner Stuart McWhorter recently approved $36.6 million in grants that will be distributed across 78 communities in the Volunteer State.
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Custom Foods of America (CFA) plans to expand its manufacturing and distribution operations in a move that is expected to bring 249 new jobs to Knox County.
“CFA will create 249 new jobs at its Pleasant Ridge location in Knox County, which will bring its total headcount in the region to approximately 500 people,” according to a release from the Tennessee Department of Economic and Community Development (TNDECD). “The expansion will increase CFA’s production and distribution capabilities by adding nearly 200,000 square feet of new space for manufacturing, storage, staging and shipping.”
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A logistics company will located in Knoxville plans to expand and add 650 employment opportunities, a news release from the Tennessee Department of Economic and Community Development (TNEDC) says.
According to the release, Axle Logistics will invest $37.9 million to expand logistics operations at its Knoxville headquarters. It will reportedly construct an 85,000-square-foot facility adjacent to its existing facility in order to “better meet the ongoing growth it has experienced since its founding in 2012.”
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Malibu Boats officials recently announced the company will invest $75 million to expand its manufacturing operations in Lenoir City.
The company’s expansion project will mark its second plant located outside of its headquarters in Loudon. The new plant will be located at an existing facility in the Roane Regional Business and Technology Park.
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The Tennessee Department of Economic and Community Development (TNECD) has announced that five lenders in LendTN, a program developed for small business owners in the Volunteer State earlier this year.
According to a release, the following lenders are participating in the program:
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South Korean company Hanon Systems recently announced it will invest $170 million to establish a new manufacturing presence in Loudon.
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McNeilus Truck and Manufacturing, Inc., an Oshkosh Corporation [NYSE: OSK] company that manufactures purpose-built commercial vehicles and equipment announced Wednesday that it will invest $25.2 million to expand its manufacturing presence in Middle Tennessee.
According to the Tennessee Department of Economic and Community Development (TNECD), the company plans to expand operations at its current Parkway Place facility in Murfreesboro to fabric and weld custom vehicle components.
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The Tennessee Department of Economic and Community Development (TNECD) announced the availability of $185 million in grant funds to expand internet access in the state on Monday.
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An Australian company that manufactures titanium alloy is coming to Bradley County, according to a release from the Tennessee Department of Economic and Community Development (TNECD).
Amaero International Limited will build invest $54.9 million in a manufacturing, research and development (R&D) facility in Cleveland. The R&D facility will serve as the company’s global headquarters. The company will create 105 new jobs in Bradley County.
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Tennessee Governor Bill Lee and Tennessee Department of Economic and Community Development (TNECD) Commissioner Stuart McWhorter announced Thursday that approximately $5.9 million in Site Development Grant funds have been awarded to 10 community entities across the state.
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Enchem America Inc. officials announced Monday that the company will invest $152.5 million to establish electrolyte manufacturing operations in Haywood County, which is categorized as an “economically distressed” county by the Tennessee Department of Economic and Community Development (TNECD).
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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.
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Independent Stave Company officials recently announced that the company will invest $30 million to establish new manufacturing operations in Overton County, which is categorized as an “economically distressed” county by the Tennessee Department of Economic and Community Development (TNECD).
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Meco Corporation officials recently announced that the company will invest $27.8 million to expand its headquarters in Greene County.
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Kordsa, Inc. officials announced Wednesday that the company will invest $50 million to expand manufacturing operations at its Chattanooga facility.
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United Record Pressing officials recently announced that the company is investing $10.8 million to expand manufacturing operations at its headquarters in Nashville.
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Steamboat Transportation Group, LLC officials recently announced that the company will invest $2 million to expand and relocate its headquarters operations from Nashville to Brentwood.
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Toyota Boshoku Tennessee, LLC (TBTN) announced Thursday that it will invest $54.4 million to expand manufacturing operations at its metal stamping facility in Jackson.
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NYX Linden LLC recently announced that the company will invest $10.4 million to expand its current manufacturing operations in Perry County, which is categorized as an “economically distressed” county by the Tennessee Department of Economic and Community Development (TNECD).
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Big Valley Brands, LLC, also known as Big Valley Air, announced Wednesday the company will invest $1.4 million to expand its manufacturing operations in Sequatchie County, which is categorized as an “economically distressed” county by the Tennessee Department of Economic and Community Development (TNECD).
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The Webstaurant Store, LLC announced Tuesday that the company will invest $103.9 million to locate new distribution operations in Lebanon’s Speedway Industrial Park.
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Tennessee has spent more than $81 million on its Site Development Grant program to help pay to get rural industrial sites prepared for businesses since the program began in 2016.
While the Tennessee Department of Economic and Community Development recently lauded the spending in promotional materials on the impact of that spending, experts don’t agree that the funding was well-spent.
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The Robinette Company officials recently announced that the company would invest $10.3 million to construct a new 100,000-square-foot facility in Piney Flats.
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Pace Industries, LLC officials recently announced that the company will invest $2.8 million in Jackson to expand manufacturing operations at its Lower Brownsville Road facility.
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Custom foods manufacturer SK Food Group, Inc. announced that it will invest $205.2 million to construct a production facility in Cleveland, Tennessee.
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On Wednesday, ZLINE Kitchen and Bath announced a multimillion-dollar expansion in its Northwest Tennessee distribution operations by locating a new facility in Milan.
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In-N-Out Burger, the popular west coast fast food chain, has announced expansion plans to build restaurants and a corporate office in Tennessee by 2026.
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Governor Bill Lee and the Tennessee Department of Economic and Community Development (TNECD) posted their picks for the top five new business investments in the state during 2022.
In all, about 100 projects were supported by TNECD statewide in 2022, resulting in more than 16,000 jobs and $8.6 billion in private investment, according to the department.
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Tennessee-based company Summertown Metals, LLC officials recently announced that it would invest $11 million to expand its manufacturing and distribution operations in Lewis County.
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General Machine and Tool Company, Inc. officials recently announced that the company will invest $3.7 million to expand manufacturing operations at its headquarters in Elizabethton.
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HealthVerve Food Manufacturing USA, Inc. officials announced Thursday that the company will invest $2.2 million to establish new manufacturing operations in Livingston. HealthVerve was founded in 2006 and is a high-value food manufacturer that specializes in canning processes and invests in research and development to bring wholesome and nutritional products to the public.
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Governor Bill Lee and Department of Economic and Community Development (TNECD) Commissioner Stuart McWhorter recently approved $27.3 million in grants that will be distributed across 64 Tennessee counties.
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A cathode manufacturer is set to make the largest foreign investment in Tennessee in the Volunteer State’s history, according to the Department of Economic and Community Development (TDECD).
“LG Chem’s anticipated investment of approximately $3.2 billion represents the single largest announced foreign direct investment in Tennessee’s history. The project is expected to create 860 new jobs in Montgomery County,” according to a TDECD press release. “The Clarksville facility will be the largest of its kind in the U.S. and is expected to produce roughly 120,000 tons of cathode material annually by 2027, which is enough to power batteries in 1.2 million electric vehicles with a range of 310 miles per charge.”
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On Wednesday, the Tennessee Department of Economic and Community Development (TNECD) announced two new economic investment projects are underway in the Volunteer State that are expected to create 175 new jobs in total.
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On Friday, Hardcoat Technologies LLC officials announced that the company will invest $6.6 million to expand manufacturing operations at its Papermill Drive location in Knoxville.
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Athletic footwear and apparel manufacturer New Balance Athletics announced that the company will invest $68.5 million to establish a new distribution center in Lebanon.
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Ford broke ground on BlueOval City, a new electric vehicle and battery manufacturing facility, on Friday less than a year after the company first announced the project.
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One of the world’s largest tire companies is making a $500 million investment to expand its operations in Tennessee, creating more jobs in the Volunteer State.
Bridgestone’s investment strengthens the global competitiveness of the company’s U.S. manufacturing operations and commitment to its U.S. labor force. Bridgestone will create 380 new jobs at its Warren County facility, increasing its existing headcount of 1,100 to more than 1,400, and bringing the total number of Bridgestone’s U.S. manufacturing workforce to nearly 10,000,” according to the Tennessee Department of Economic and Community Development (TNECD).
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Duksan Electera America, Inc. officials announced Wednesday that the company will invest $95 million to locate its first North American manufacturing facility in Shelbyville, Tennessee. Duksan Electera is a branch of the South Korean-based Duksan Group which is an advanced material manufacturer.
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Highland Ventures Ltd. officials announced Monday that the company will invest $8.2 million to relocate its headquarters operations from Glenview, Illinois, to Brentwood, Tennessee. The company “is planning to take advantage of the unprecedented growth” within Brentwood to support its expansion strategies.
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TechnologyAdvice, LLC officials announced this week that the company would invest $2.7 million to expand its headquarters and other back-office functions in Nashville, Tennessee.
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iFixit officials announced Monday that the company will establish its East Coast hub for distribution and innovation in Chattanooga. iFixit will invest $24.2 million and create 201 new jobs in Hamilton County over the next five years, according to a press release by the Tennessee Department of Economic and Community Development (TNECD).
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Kroger Fulfillment Network, LLC officials announced Thursday that Kroger Co. will offer more Americans product delivery through the addition of a “spoke” facility in Nashville. The project is expected to bring 180 new jobs to Davidson County.
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The Tennessee Department of Economic and Community Development (TNECD) announced Wednesday that Madisonville has achieved Tennessee Main Street accreditation.
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Bob Rolfe officially exited the Tennessee Department of Economic and Community Development (TNECD) to enter the private sector Friday with a farewell message shared to social media. Rolfe has served as TNECD Commissioner since March 2017, when he was appointed by former Tennessee Governor Bill Haslam.
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VK Integrated Systems (VKIS) announced Friday that the company will invest $840,000 to relocate its manufacturing operations from Fullerton, California, to Clarksville, Tennessee by breaking ground on the new manufacturing site in Montgomery County.
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Tennessee Governor Bill Lee, the Tennessee Department of Economic and Community Development (TNECD), and 3M Company announced this week the investment of approximately $470 million to expand manufacturing operations in East Tennessee. 3M’s expansion is expected to add around 600 new jobs by 2025.
Governor Lee said, “3M’s decision to expand in Tennessee is a testament to our state’s pro-business climate and skilled workforce. The creation of nearly 600 new jobs in Anderson County will positively impact this community for years to come, and we thank 3M for their investment in our state.”
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