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Tennessee ‘State of the Year’

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Tennessee is the “2013 State of the Year,” according to Business Facilities magazine, a national economic development publication.

Tennessee’s top economic development projects created 6,900 jobs, $3.2 billion in capital investment and included seven expansions and three new recruitments. 

The magazine picked the state after evaluating the top projects for the number of jobs created and amount of capital invested from Oct. 1, 2012, to Oct. 31, 2013.

“A lot of hard work goes into keeping Tennessee competitive, and I want to thank Business Facilities for recognizing the efforts of so many people across the state,” Gov. Bill Haslam said. “We understand that jobs are created when someone is willing to risk capital, and we will continue working to make Tennessee a great place to invest.”

Tennessee earned a number of accolades in 2013, including being named No. 1 in the nation for automotive manufacturing strength for an unprecedented four years in a row by Business Facilities. 

“Over the past year, Tennessee has experienced unprecedented amounts of momentum,” Tennessee Economic and Community Development Commissioner Bill Hagerty said.

“The global companies that invested capital in our state and the number of jobs created demonstrate to the world that Tennessee not only provides a top-notch business environment, but also the ongoing support needed for success. I am extremely pleased by this award and look forward to another successful year.”

Tennessee was also ranked in the top five states with the best business climate by Site Selection. 

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.

Tennessee joins Texas as the only multiple winner in the annual competition since the award’s 2007 inception.

Runners-up in the 2013 competition were Utah, Texas, Louisiana, Georgia and Pennsylvania.