Economic Development

TVA works with local utilities and other strategic partners to promote the economic and social well-being of the people of the Tennessee Valley region by helping to recruit new companies and investments, retain and support existing companies, and prepare communities for economic growth.

Background

Economic development is a critical component of TVA's reason for being, dating back to TVA's original charge to advance the physical, social and economic development of the Tennessee Valley region. TVA works to achieve this mission by serving as a catalyst for sustainable economic development in the TVA region.

TVA's sustainable economic development efforts, in partnership with regional entities, state agencies and communities, support economic growth, provide quality jobs, and help make the Tennessee Valley region a great place to live and work.

Key points

Despite continued slow growth in the economy, TVA helped recruit or expand more than 140 companies into the TVA service area during 2011. These companies announced capital investments of more than $4.9 billion and the expected creation or retention of more than 43,000 jobs.
For the sixth year in a row, TVA was named by Site Selection magazine as one of the top 10 North American utilities for economic development achievement.
TVA has 14 field representatives in seven regional offices who work with local officials to help companies grow in a sustainable, energy efficient manner. TVA's strategic partners include local utility officials; regional, state and local economic development associations; chambers of commerce, and community groups.

Other information

The Tennessee Valley region landed three $1 billion-plus companies in an eight-month period during 2008 and 2009: Dow Corning/Hemlock Semiconductor in Clarksville, Tenn.; Wacker Chemie in Charleston, Tenn., and Volkswagen in Chattanooga.
TVA's Megasites program was developed to independently certify large industrial properties. Five Megasites have been sold to Dow Corning/
Hemlock Semiconductor, Volkswagen, Paccar, Toyota, and SeverCorr. TVA continues to market two more Megasites to select companies.
TVA provides a Valley Investment Initiative program that offers financial incentives to companies that contribute to the economic success of the region and complement TVA's power system.
TVA offers two award-winning Economic Development websites, TVAed.com and TVAsites.com, containing demographics and a searchable building and land database, as well as other key information to promote the benefits of the Tennessee Valley region.

November 2011