Back to Multimedia Center
Tennessee jumped 10 spots in the third annual Thumbtack.com Small Business Friendliness Survey, finishing in 6th place nationwide.
The study, complied in partnership with the Ewing Marion Kauffman Foundation, drew upon data from over 12,000 small business owners and
provides new insights into state and local business environments across the nation. The city of Nashville was also recognized as the 9th
friendliest small business city out of 82 cities rated.
Tennessee was named the third best state in the country for business by Chief Executive magazine on its
2014 Best & Worst States for Business list.
The 10th annual survey of CEOs graded states on measures that included tax and regulatory regime, quality of the workforce and quality of life.
Tennessee was named the
second most competitive state in the U.S. for economic development by Site Selection magazine. Hankook Tire’s
announcement that it would create 1,800 new jobs and invest $800 million in Clarksville was also named a
top deal of 2013
by the magazine, while ProNova Solution’s expansion creating 525 new jobs and investing $50 million in Alcoa earned an honorable mention.
- Four Tennessee projects received honors in Trade & Industry Development’s 9th annual Corporate Investment & Community Impact (CiCi)
Awards, more than any other state. Hankook Tire and Eastman Chemical were recognized in the Corporate Investment category, while Calsonic Kansei North
America and ProNova Solutions were recognized in the Community Impact category. All totaled, the four projects generated $2.6 billion in investments and
created 3,825 new jobs for the state in 2013.
- Tennessee ranked 10th for the number of economic development projects in Site Selection magazine’s
2013 Governor’s Cup awards. Several Tennessee micropolitans were ranked based on the number of projects including Dyersburg (tied for 10th),
Tullahoma-Manchester (tied for 19th), Lewisburg and Union City (both tied for 27th), Shelbyville (tied for 41st), and Athens, Crossville and Greeneville
(all tied for 70th).
Tennessee Named "2013 State Of The Year" For Economic Development by Business Facilities.
Tennessee ranked fifth in Site Selection magazine’s top state business climate rankings. The ranking is based 50 percent on a survey of corporate site selectors and 50 percent on a set of criteria that includes the states’ competitiveness rank as published in the May issue, qualified projects so far in 2013 and on a per capita basis, and state tax burdens on new and mature firms as compiled by the Tax Foundation and KPMG Location Matters analysis.
Medscape selected Tennessee as the best place to practice medicine in the Southeast.
Tennessee ranked seventh overall in Area Development magazine’s Top States for Doing Business list .
Area Development credited Tennessee's low taxes, fiscal stability and strong manufacturing base for maintaining our spot in the top ten.
Business Facilities magazine released its 9th annual Metro, State and Global Rankings Report. In addition to Tennessee’s first place finish for Automotive Manufacturing Strength, released in July 2013, the state and several metro areas were well represented in the following categories.
- Nashville placed 10th in the nation for Information Technology Employment Leaders.
- Memphis placed first for Logistics Leaders – Air Cargo Hubs not only in the U.S. but in the entire world, besting international cities such as Hong Kong, Shanghai and Dubai.
- Memphis also placed fifth for Lowest Cost of Living in the U.S.
- Knoxville was 10th in the nation for Top Foreign Trade Zone – Exports.
Tennessee was named:
- Ninth for Best Business Climate
- Eighth for Renewable Energy Leaders – Power Generation
- Third for Best Infrastructure
- Fourth for Auto Parts Supplier Leaders
- Seventh for Best Education Climate
- Business Facilities ranked Tennessee the best state in the nation for its Automotive Manufacturing Strength for an unprecedented fourth consecutive year.
- Tennessee was named the state with the lowest debt ratio in the nation. The study was conducted by New York-based Fitch Ratings using a metric calculated by combining the state’s net tax-supported debt and unfunded pension liabilities then measuring them against the state’s personal income level. Tennessee’s ratio of debt and pension liabilities to personal income was 1.8 percent. No other state had a ratio below 2.2 percent and four states had ratios above 20 percent.
- Tennessee placed seventh in Area Development’s fourth annual Top States for Doing Business survey of site consultants, first for Overall Infrastructure and Global Access, and sixth for States Most Mentioned by Respondents.
- Tennessee also won a 2013 Silver Shovel Award for achievement in attracting high-value investment projects that will create a significant number of new jobs.
- CEO respondents voted Tennessee the fourth best state in the U.S. for business in Chief Executive Magazine’s Annual Best & Worst States for Business Survey.
- Bankrate.com named Tennessee the No. 1 state in the nation for retirement, siting our low cost of living, low state and local tax burden, excellent access to medical care, and warm weather.
- Site Selection magazine ranked Tennessee in its top five for its 2012 Competitiveness Award, which recognizes excellence on the part of a state-level economic development group. States' competitiveness rankings are determined by a number of criteria from 2012, including: total new and expanded facilities; total capital investment in new and expanded facilities; total new jobs created; state tax climate ranked by the Tax Foundation; and number of National Career Readiness Certificates per 1,000 residents aged 18-64, according to ACT (Workforce Development Division, administrator of the ACT Certified Work Ready Communities initiative).
- Site Selection also named HCA's Parallon Business Solutions and Sarah Cannon Research Institute corporate headquarters expansion in Nashville a Top North American Deal of 2012, with an investment by the company of $200 million and the creation of more than 1,000 jobs. The Top Deals were determined by level of capital investment, degree of high-value jobs, creativity in negotiations and incentives, regional economic impact, competition for the project and speed to market.
- Site Selection magazine ranked Tennessee 8th in the U.S. for the number of capital investment projects last year in the annual Governor’s Cup Awards. The ranking is based on private-sector projects that meet one or more of these criteria: an investment of at least $1 million, creation of 50 or more new jobs or construction of new space of at least 20,000 square feet.
- Site Selection also named several Tennessee communities in the annual Top Metros and Micropolitans list. Jackson tied for seventh on the Top Metros list for the number of projects for populations of less than 200,000. Additionally, Tennessee ranked third for the number of Top Micropolitans, those cities of 10,000 to 50,000 people which cover at least one county. Tennessee micropolitans and their rankings included Tullahoma (tied for 13th); Cookeville (tied for 23rd); Humboldt, Lewisburg, Shelbyville, and Union City (all tied for 30th); Athens, Greeneville, Lawrenceburg and Newport (tied for 45th); and Brownsville, Columbia, Crossville and Sevierville (tied for 86th).
- Magneti Marelli in Giles County and Oberto Brands in Davidson County were among the 30 corporate recipients of Trade & Industry Development magazine's 8th Annual CiCi (Corporate Investment & Community Impact) Awards. They were recognized in the Community Impact division. Among the criteria considered are the number of jobs created and/or retained, area unemployment figures, average income level of the region, area plant closings or decline in industry segments, and the creation of new industry segments with employment opportunities, among others.
- Site Selection magazine ranked Tennessee the nation’s eighth best state for business climate for the second year in a row in the magazine’s 2012 Top State Business Climate Rankings. The highly regarded annual rankings are based on a state’s strong record of attracting capital investment, an analysis of state tax burdens and a survey of corporate site selectors.
- Tennessee ranked seventh overall in Area Development magazine’s Top States for Doing Business list - up one spot compared to 2011 survey results. Tennessee also scored the #1 ranking for its overall infrastructure and global access, and also beat out its competitors in ranking first for its distribution/logistics hub access.
- Business Facilities, a national economic development publication, ranked Tennessee the No. 1 state in the nation for Automotive Manufacturing Strength for an unprecedented third consecutive
year in its annual 2012 State Rankings Report. Tennessee earned an additional seven Top 10 honors along with many cities throughout the state. A complete list is as follows:
- State Rankings
Automotive Manufacturing Strength: #1
Race to the Top: #3
Emerging Data Center Hubs: #4
Best Transportation Infrastructure: #5
Economic Growth Potential: #8
Best Business Climate: #8
Job Growth Leaders: #9
Best Education Climate: #10
- Metro Rankings
Logistics Leaders – Air Cargo Hubs: Memphis #1
Best Cost of Living: Memphis and Cookeville ranked in the Top 10
Economic Growth Potential: Knoxville ranked in the Top 10
Fastest Growing Cities: Knoxville #8
- Global Rankings
Logistics Leaders – Air Cargo Hubs: Memphis #1
- Tennessee was awarded Area Development magazine’s 2012 Gold Shovel Award, presented annually to states that have achieved significant success in terms of job creation and economic impact. The Volunteer State was also recognized by the magazine as a 2011 Economic Development Project of the Year for the $235 million General Motors project in Spring Hill that is expected to create 2,350 jobs.
- Chief Executive magazine named Tennessee one of the top four states in the nation for business in its eighth annual survey of Best and Worst States for Business. More than 650 chief executive officers rated all 50 states in three general categories: taxation and regulation, quality of workforce and living environment. Tennessee ranked fourth for the second consecutive year.
- Amazon.com, Inc. was named to Site Selection magazine’s Top Deals of 2011 list. The Top Deals of 2011 were determined by level of capital investment, degree of high-value jobs, creativity in negotiations and incentives, regional economic impact, competition for the project and speed to market. Amazon was honored for its decision to locate distribution facilities in three Tennessee cities: Chattanooga, Cleveland and Lebanon. These three facilities will create 2,000 jobs in the state.
- The publishers of Trade & Industry Development magazine, a national economic development publication, have named Amazon.com, Inc., General Motors, Quaprotek USA, MANN+HUMMEL USA and the Tennessee Department of Economic and Community Development among the recipients of its 2012 Corporate Investment & Community Impact (CiCi) Awards. With more than 700 project submissions throughout North America, these projects were chosen as four of only 15 finalists in the Community Impact division of the CiCi Awards, totaling the most for any state.
- Tennessee earned a strong ninth place finish in the annual Site Selection magazine 2011 Governor's Cup rankings of states with the most economic development projects. The annual list ranks the 50 states according to their success in attracting capital investment projects that meet one or more of three criteria: a minimum investment of $1 million, creation of 50 or more new jobs and new facility construction or floor space of at least 20,000 sq. ft.
- Site Selection ranked Tennessee the nation's eighth best state for business climate in the magazine's November 2011 issue. The highly regarded annual rankings are based on performance in business expansion and relocation, as well as a nationwide survey of corporate real estate executives.
- Area Development conducted a survey of a select group of highly respected location consultants who work with a nationwide client base for it's Top 10 States for Doing Business List and Tennessee ranked 8th overall. In addition, the Volunteer State tied for #1 in certified sites or shovel-ready programs; is #2 for competitive utility rates; and a leader in the economic recovery.
- Business Facilities, a national economic development publication, issued its annual 2011 Rankings Report and Tennessee, along with many cities throughout the state, earned top honors. A complete list is as follows:
- State Rankings
Automotive Manufacturing: #1
Best Transportation Infrastructure: #5
Economic Growth Potential: #7
Best Business Climate: #8
- Metro Rankings
Top Logistics/Distribution/Shipping Hubs: Memphis #1
Best Cost of Living: Nashville #5, Memphis #7
- Southern Business and Development magazine’s annual "Top Deals and Hot Markets" rankings were released, and Tennessee was awarded an honorable mention. To determine the rankings, SB&D considered only companies making public commitments of 200 jobs or more or $30 million in capital investment.
- The U.S. Chamber of Commerce and the National Chamber Foundation’s study, Enterprising States, ranked Tennessee No. 1 for Taxes and Regulation based on the state’s low cost of living, low state and local tax burden and manageable budget gap. Tennessee also ranked second in Cost of Living, fourth in State and Local Tax Burden and tenth in both Growth in Share of National Exports and Budget Gap.
- The Associated General Contractors of America acknowledged Tennessee as one of three states in the U.S. with the highest addition of construction jobs from April 2010 – April 2011.
- Tennessee was awarded Area Development magazine’s Silver Shovel, presented annually to states who have demonstrated much success and progress with job creation and economic impact. The awards recognize state economic development agencies that drive significant job creation through innovative policies, infrastructure improvements, processes and promotions that attract new employers as well as investments in expanded facilities.
- Electrolux was named to Site Selection magazine’s Top Deals of 2010 list. Amazon.com was also named to the Honorable Mention list. Honors were determined based on scale of capital investment and job creation, creativity in negotiations and incentives, regional economic impact, competition for the project and speed to market.
- Chief Executive magazine named Tennessee one of the top four states in the nation for business in their seventh annual survey of Best and Worst States for Business. More than 500 chief executive officers rated states based on a wide range of criteria, from taxation and regulation to workforce quality and living environment.
- The publishers of Trade & Industry Development magazine, a national economic development publication, named Nissan Motor Co., Ltd., General Motors and the Tennessee Department of Economic and Community Development among the recipients of its 2011 Corporate Investment & Community Impact (CiCi) Awards. Only 15 projects nationwide were selected from hundreds of submissions as winners in the Corporate Investment category. The two Tennessee projects represent a combined investment of more than $2 billion and the creation of 1,783 new jobs.
- Site Selection named Tennessee the nation's second best state for business climate in the magazine's November 2010 issue. The highly regarded annual rankings are based on performance in business expansion and relocation, as well as a nationwide survey of corporate real estate executives.
- Tennessee topped the list of most attractive states for business, as selected by consultants surveyed by Area Development magazine. Consultants to industry were asked to name their top-10 state choices for meeting eight site selection criteria: lowest business costs, most business friendly, corporate tax environment, overall labor climate, work force development programs, fast-track permitting, rail and highway accessibility and shovel-ready sites. All of the factors were given equal weight, and the numbers of “mentions” by the responding consultants were added to arrive at the top-scoring states.
- Business Facilities, a national economic development publication, issued its annual 2010 Rankings Report and Tennessee, along with many cities throughout the state, earned top honors. The Volunteer State was ranked number one in the nation for Automotive Manufacturing Strength, number two for Economic Growth Potential and number five for Best Business Climate. A complete list is as follows:
Automotive Manufacturing Strength: #1
Economic Growth Potential: #2
Best Business Climate: #5
Quality of Life: #5
Solar Energy Manufacturing Leaders: #5
Alternative Energy Industry Leaders: #6
Cost of Labor: #7
Best Transportation Infrastructure: #9
- Metro Rankings
Top 10 Metro Economic Growth Potential: Chattanooga #1
Top Logistics/Distribution Shipping Hubs: Memphis #1
Top 10 Metro – Quality of Life: Nashville #2
Top 10 Metro Best Cost of Living: Memphis #2, Nashville #5, Chattanooga #9, Knoxville #10
Top 10 Metro Economic Growth Potential (Under 200K Population): Knoxville #5
Alternative Energy Industry Leaders: Clarksville #4, Knoxville #7
Low Cost Manufacturing Centers (Less Than 500K Population): Clarksville #8
Top 10 Metro Best Cost of Living (Less Than 350K Population): Clarksville #10
- Southern Business and Development magazine’s annual "Top Deals and Hot Markets" rankings were released, and Tennessee was at the top of the list for the second year in a row. The Volunteer State was once again named the Co-State of the Year with Louisiana. To determine the rankings, SB&D considered only companies making public commitments of 200 jobs or more or $30 million in capital investment.
- Tennessee was named the winner of Area Development magazine’s Silver Shovel Award, presented annually to states who have demonstrated much success and progress with job creation and economic impact. The awards recognize state economic development agencies that drive significant job creation through innovative policies, infrastructure improvements, processes and promotions that attract new employers as well as investments in expanded facilities.
- Chief Executive magazine named Tennessee one of the top three states in the nation for business in their sixth annual survey of Best and Worst States for Business. More than 650 chief executive officers rated states in three general categories: taxation and regulation, workforce quality and living environment. Tennessee moved up two spots from fifth in 2009.
- Tennessee has again been ranked among the top states in the nation in Site Selection magazine’s annual Governor’s Cup rankings for its economic development performance in 2009. The economic development publication put the Volunteer State at No. 5, the highest ranking of any Southeastern state. The Governor’s Cup award recognizes states with the most new or expanded private-sector capital projects as tracked by publisher Conway Data Inc.’s New Plant Database.
- The publishers of Trade & Industry Development magazine, a national economic development publication, have named Wacker Chemie and the Tennessee Department of Economic and Community Development among the winners of its 2010 Corporate Investment & Community Impact (CiCi) Awards. The project was chosen as one of 15 in the Corporate Investment category for the Munich-based company’s $1 billion investment and forecasted creation of 500 jobs in Bradley County.
- The Three-Star Program and the Tennessee Center for Performance Excellence received a 2010 Innovator Award from the Southern Growth Policies Board for their unique partnership assisting Tennessee communities. The Innovator Award honors communities and organizations that work creatively to improve economic opportunity and quality of life on a regional basis. Three-Star maintains a close partnership with TNCPE, a nonprofit organization that uses the Criteria for Performance Excellence based on the Baldrige National Quality Program to assess Three-Star communities’ strategic plans and provide coaching and feedback.
- Business Facilities magazine named Tennessee the 2009 State of the Year for the number of new jobs created and amount of capital investments made during the calendar year. The Hemlock Semiconductor project in Clarksville, Tennessee also won the magazine's 2009 Silver Award for Economic Development Deal of the Year, citing the company's announced investment of $1.2 billion dollars and the creation of 500-900 new jobs.
- The editors of Site Selection magazine ranked Tennessee among the five best states in the U.S. for best business climates. The announcement marks the seventh time in the past decade Tennessee has been listed among the top ten states for business climate. The state has been ranked among the top five states in five of the past seven years.
- Volkswagen Group of America's decision to build an automotive production facility in Chattanooga, Tenn. was named Deal of the Year by Southern Business & Development magazine. Tennessee was also named Co-State of the Year and Governor Phil Bredesen, Economic and Community Development Commissioner Matt Kisber and Revenue Commissioner Reagan Farr made the publication's Ten People Who Made a Difference list.
- The Pew Charitable Trust released a report entitled "The Clean Energy Economy," naming Tennessee one of the top three fastest growing states for clean energy jobs. According to the findings, Tennessee's emerging clean energy economy grew more than seven times faster than the state's overall jobs between 1998 and 2007.
- Area Development magazine honored the state of Tennessee with its prestigious Gold Shovel Award. The honor is presented annually to the state achieving the most success in terms of job creation and economic impact.
- Volkswagen Group of America and Hemlock Semiconductor projects both named to Site Selection magazine’s Top Deals of 2008. Tennessee was the only state to have two projects in the top 10. Honors were determined by level of capital investment, degree of high-value jobs, creativity in negotiations and incentives, regional economic impact, competition for the project and speed to market.
- Hemlock Semiconductor in Clarksville and Volkswagen Group of America in Chattanooga are named Trade & Industry Development Corporate Investment and Community Impact (CiCi) award winners. These two deals were chosen from more than 1,000 project submissions throughout North America as two of only 15 winners in the Corporate Investment category.
- Chief Executive magazine ranked Tennessee as the fifth best state in the U.S. for jobs and business growth
- Tennessee is ranked #2 on Site Selection magazine's 2008 Top Business Climate rankings.
- The Tennessee Economic Development Council (TEDC) recognized Matt Kisber, Commissioner of the Tennessee Department of Economic and Community Development, as the 2008 Fred Harris Professional of the Year.
- Tennessee Valley Authority in Nashville, Tenn. is named one of the Top Ten Utilities in Economic Development in the U.S.
- Tennessee is named winner of Site Selection magazine’s 2007 Competitiveness Award.
- A study from the Kaufman Foundation on entrepreneurial activity in the U.S. ranks Tennessee 4th highest in the nation for number of entrepreneurs per capita.
- Forbes ranks Knoxville, Tenn. at #10 on its list of “Hot Spots”
- Tennessee is ranked number three on the annual Governor’s Cup list in Site Selection.
- Tennessee’s economy is ranked 5th best in the country by the American Legislative Exchange Council.
- Eastman Chemical in Kingsport is named one of Trade & Industry Development’s Corporate Investment and Impact (CiCi) award winners.
- Tennessee ranks high on Southern Business & Development Top Tens list, including:
- “Top Major Markets in the South: 1993-2007” - Memphis ranked #3 and Nashville/Davidson/Murfreesboro/Franklin ranked #5.
- “Top Small Towns in the South That Deserve a Second Look” - Dyersburg, Tenn. ranked #4.
- “Top Ten People Who Made a Difference” - TNECD Commissioner Matt Kisber included.
- “Top Ten Markets in the South for Advanced Manufacturing” - Knoxville/Oak Ridge ranked #4 and Memphis ranked #5.
- “Top 10 Incredibly Large, Nicely Positioned Distribution Sites in the South You May Not Know About” - CentrePoint Distribution Park in LaVergne and Elam Farms in Murfreesboro named to list.
- “Top 10 Edge Markets You Might Not Know About” - Clarksville and Cleveland/Bradley County named to list.
- Tennessee ranks sixth on Site Selection’s Top State Business Climates list
- Tennessee jumps seven spots on the Forbes Best States for Business list, tying for the most improved, biggest mover.
- Forbes ranks Knoxville number five and Nashville number 10 on the Best Places for Business and Careers list.
- Federated Department Stores in Portland is named one of Trade & Industry Development’s Corporate Investment and Impact (CiCi) award winners.
- Expansion Management named four Tennessee cities to its ninth annual “America’s Hottest Cities” list: Chattanooga, Knoxville, Memphis and Nashville.
- Tennessee ranks high on Southern Business & Development Top Tens list, including:
- “Top Ten Unbelievable Sites for Automotive Assembly” - Enterprise South Site in Chattanooga ranked #2 and Commerce Park in Clarksville ranked #10.
- “Ten People Who Made a Difference” – Governor Phil Bredesen included
- “Ten Places in the South for Emerging Growth Industries” – Memphis and Knoxville included.
- “Top Ten Places in the South for the Creative Class” – Nashville included.
- “Top Ten Inland Waterways in the South” – The Tennessee-Tombigbee included.
- Site Selection magazine, named Tennessee a Top 5 state in terms of business climate. This marks the second year in a row Tennessee has ranked among the top five states in the nation for its business climate.
- The state of Tennessee leads the nation on a per capita basis when it comes to job creation, job retention and capital investment, according to Business Facilities magazine. In the July 2006 issue, Business Facilities ranked Tennessee first with 196 out of a possible 300 point scale with $687.58 in new business capital invested in the state for every resident.
- Tennessee’s business climate as well as the number of new job creation and business expansion projects has prompted Site Selection magazine to give the state a second place ranking on its list of the most job-competitive states in the nation. In the publication’s May edition, Tennessee climbed back up the list, jumping from No. 7 in 2005 to No. 2 this year among the magazine’s annual ranking of “Top Ten Competitive States.” The magazine’s editors included job creation and capital investment in their calculations, but also looked at how many local metropolitan areas and small towns from a given state made the annual rankings of Site Selection’s top 100 communities.
- Tennessee has dug its way into a new economic development ranking, this time receiving the Silver Shovel award in Area Development Magazine’s inaugural “Golden Shovel” awards, which recognize states that are successful in job creation and retention efforts. The awards factored direct job creation numbers, new jobs per capita, amount of company investment; number of new facilities (either new to the state or at new locations within the state), and the number of projects creating high value-added jobs.
- Tennessee has once again received national recognition by the highly-respected Site Selection magazine, landing the No. 4 spot on the magazine’s “Top 10 States” with the most micropolitan areas and the No. 8 spot on the list by number of projects.
- The Southern Growth Policies Board, a bipartisan public policy think tank devoted to strengthening the South's economy, has recognized the Tennessee Department of Economic & Community Development’s (TNECD) revamped Three-Star program as a best practices program and Southern leader in community certification programs.
- FORTUNE Magazine has ranked three Tennessee companies in its 2006 “America’s Most Admired Companies” list. FedEx in Memphis, HCA in Nashville and CBRL Group in Lebanon all made the list. In addition, International Paper and Nissan, who plan to move to Memphis and Nashville respectively, were listed in the ranking.
- For the second year in a row, the Nashville metro area landed at No. 1 on Expansion Magazine’s annual list. Memphis followed at No. 7, with Knoxville trailing close behind at No. 9. Also, making the top 50 was Jackson at No. 42. Tennessee was the only state included on this year’s list with three cities making the Top 10.
- The Federal Reserve, in its 2006 Beige Book report on the national economy, showed a 2 percent increase in per capita income in Tennessee over the last year.
- The relocation of the Nissan North America, Inc.'s Headquarters to Tennessee received recognition as one of Business Facilities magazine's Economic Development biggest deals in 2005.
Tennessee received a host of rankings in 2005 for its economic development efforts. Some of these include:
- No. 1 in debt management by Expansion Management magazine
- No. 9 on Expansion Management magazine 2005 Top Legislative Quotient List
- No. 5 on Site Selection magazine’s 2005 Top Business Climate ranking
No. 16 in the nation for insourcing jobs by the Organization for International Investment (OFII)