A message from Commissioner Matt Kisber
As you begin your search for the best location for your business, you'll be evaluating lots of location data. In Tennessee, our goal is to provide you the data you need as quickly as you need it in order to make the best business decision possible. We know your goal is to mitigate risk and to give your company the best possible chance to succeed and in Tennessee, we're committed to helping you do that.
So why should you put Tennessee on your short list of locations?
Tennessee has a nationally recognized business climate --- highly respected economic development publications like Site Selection and business magazines like Forbes and Chief Executive have consistently ranked Tennessee among the top ten states in the U.S. for business climate. Tennessee is a low tax state, ranking 46th in per capita tax burden and our business tax structure is consistent and predictable, with no tax on personal income. It's why Tennessee has welcomed more than 50 new corporate headquarters since 2003 and is currently home to nine Fortune 500 companies.
Tennessee eliminates red tape --- lots of states talk about providing you a single point-of-contact, but Tennessee is one of the few states that can actually deliver it. In 2003, Governor Phil Bredesen created the Jobs Cabinet, requiring seven different state agencies to work together to eliminate barriers to job creation. With the Department of Economic and Community Development as your partner, we can walk you through the process for incentives and permitting at both the state and local level. We're committed to a seamless, no headaches decision.
Tennessee puts you in the heart of the NAFTA region --- our state is intersected by eight, high quality interstate highways, giving you fast access to markets across North America. With over 1,100 miles of federal highway and 87,000 miles of state highway, you can reach 76% of U.S. markets within 24 hours by ground transport from Tennessee. That gives you incredible flexibility in reaching customers or in having suppliers reach you. Tennessee also has seven commercial airports, including the world's busiest cargo airport in Memphis. From Tennessee, you have global reach.
Tennessee knows one size doesn't fit all --- In the last five years, we've made more changes to Tennessee's portfolio of incentives than in the previous twenty years combined. The biggest change is that we've added flexibility to our incentive programs, giving ECD the ability to craft a proposal specific to your company's business needs and objectives. Tennessee has broad discretion in assisting companies, especially in the areas of manufacturing, distribution, clean technology, automotive, emerging technologies and corporate headquarters.
Today's answer will be tomorrow's answer --- Unlike many locations, in Tennessee the Department of Economic and Community Development and the Department of Revenue work closely together in attracting new investment, meaning the rulings you receive on the front end regarding incentives and tax treatment will be the same answers you get after the announcement is made. That approach gives you tremendous certainty when it comes to making your decision about a new investment.
Tennessee sees job growth as a partnership --- In Tennessee, the state and local communities work together to keep your project moving forward. And our FastTrack Job Training Assistance Program and FastTrack Infrastructure Development Program focus the state's investment on making sure your workforce is trained to your specifications and you have the right public infrastructure to support your site. We're fast, too. In most cases, we can get you answers about qualifying for FastTrack in days, not weeks or months. Tennessee supports your business because we want you to invest here and grow here as well. More than 2/3rds of the new jobs created in Tennessee come from our support of existing industry.
Call the Tennessee Department of Economic and Community Development at (877) 768-6374. Let's get down to business.