NASHVILLE, Tenn. (WKRN) – Amazon, Facebook, General Motors, Moldex, the list goes on and on.
Companies are choosing to call Tennessee home and expand their manufacturing operations in local communities.
According to the state department of economic and community development, more than 12,500 jobs have been created this year bringing in more than $5 billion dollars to Tennessee’s economy. $3 billion dollars of that investment is just in the center of the state.
“We’ve remained open for business. Which is another way of saying that we have continued to aggressively recruit companies to come to Tennessee,” Commissioner Bob Rolfe said.
Rolfe said there’s a number of reasons the state is attractive to businesses. Namely location, quality of life, no income taxes and a thriving airport.
“I think Nashville just has the best of both worlds, many worlds for a lot of people and companies these days,” N2M Advisory CEO Cynthia Coker said.
Coker moved her firm’s headquarters from Atlanta to Nashville this fall. She said it saves her company time, money and stress.
“It’s just kind of a breath of fresh air when you come from a little bit larger cities to Nashville and you see you can have all the things you had in a city like San Francisco or New York but with a little bit of an easier pace,” Coker said.
Rolfe says headquarter moves are slowing down during the pandemic. But manufacturing and technology companies are thriving with production.
“So what we’re going to continue to see is greater capital investment, fewer jobs, but higher quality jobs,” Rolfe said.
One thing Rolfe loses sleep over is the lack of success in the foreign investment sector. Because of COVID-19, he says his goals changed when international travel was shut down.
“The CEOs that are trying to make those decisions, those multinational companies, they are unable to come to the U.S. So we were in the finals for five or six really outstanding projects and then COVID hit and the world stopped,” Rolfe said.
Rolfe hopes those projects return to the drawing board next year. He said he’s also interested to see how the market changes with remote working environments in 2021.