TVA Economic Development Efforts Drive Strong Results in FY 2017

November 16, 2017

KNOXVILLE, Tenn. —  The Tennessee Valley Authority announced another successful year in economic development activity by stimulating $8.3 billion in capital investment and growing or retaining 70,000 jobs in the TVA service territory in fiscal year 2017.

More than 220 companies announced plans to locate to the Valley or expand existing operations in FY17, while boosting economic growth across the Tennessee Valley.

FY17 TVA Economic Development Year-End Results

 Region

Jobs Attracted/Retained

Capital Investment

Alabama

10,700 jobs

$1.3 billion

Kentucky

6,000  jobs

$ 1.1 billion

Middle Tennessee

22,700  jobs

$2.8 billion

Mississippi

6,870  jobs

$520 million

Northeast Valley

7,760  jobs

$1.1 billion

Southeast Valley

6,990  jobs

$790 million

West Tennessee

8,260  jobs

$540 million

 

“The true value of public power is our ability to enhance quality of life through our economic development efforts that lift up communities as a whole,” said TVA President and CEO Bill Johnson. “Our economic development team’s effort to attract and retain top-tier companies continues our mission to serve the nine million residents of the Tennessee Valley.”

Three key factors give the Tennessee Valley an advantage in attracting new business over other areas of the country:

  1. Lowest industrial electric rates among peer utilities—This gives companies choosing to relocate to the Valley an immediate cost advantage through lower energy costs.
  2. Environmental stewardship—Companies want to reduce their carbon footprint and TVA’s cleaner, reliable public power model provides them a carbon advantage.
  3. Strong partnerships—TVA’s economic development professionals work as a unified team with local power companies and local, regional and state development teams.

Since 2011, TVA’s economic development team has worked with local, regional and state partners to attract and retain more than 418,500 jobs and over $48.1 billion in capital investments.

For these efforts TVA received national recognition in 2017: Site Selection magazine recognized TVA for the twelfth consecutive year as one of the Top 10 utilities in North America for economic development, and Development Counselors International honored the team as one of the top five economic development teams in America.         

The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving more than nine million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic development and job creation.

Contact

Scott Fiedler
TVA Public Relations, Knoxville, (865) 632-6000

tvainfo@tva.gov
(423) 751-7883
Chattanooga, TN