TVA Economic Development Efforts Spur $7.8 Billion in Investments in FY 2015

November 20, 2015

KNOXVILLE, Tenn. – The Tennessee Valley Authority economic development programs helped attract and retain more than 76,200 jobs and stimulated more than $7.8 billion in business investments in the Tennessee Valley region in fiscal year 2015. 

“Economic Development is a cornerstone of TVA’s mission to serve and make life better for the nine million residents of the Valley,” said TVA President and CEO Bill Johnson. “These results show that the tireless work of our economic development team helps businesses prosper, communities flourish, and people thrive across the entire region.”

More than 224 companies—a considerable increase over last year—were recruited to the Valley or expanded their existing operations in FY15, boosting economic growth across the entire area in a variety of industrial sectors.

FY15 TVA Economic Development Year-end Results

 

Jobs Attracted/Retained

Business Investment

Cross Section of
 Companies Recruited

Alabama

4,500 jobs

$994 million

  • Google
  • Torch Technologies
  • Polaris Industries

Kentucky

8,200 jobs

$844 million

  • Douglas Autotech
  • KapStone Container Corp.
  • Graham Packaging

Middle Tennessee

30,200 jobs

$2.9 billion

  • Bridgestone Americas, Inc.
  • M-Tek
  • Under Armour

Mississippi

4,800 jobs

$407 million

  • Steel Dynamics, Inc.
  • Emerald Home Furnishings
  • Raybern Foods

Northeast Valley

10,400 jobs

$1.2 billion

  • Parkdale Mills
  • DENSO Manufacturing
  • TeamHealth

Southeast Valley

7,800 jobs

$627 million

  • Resolute Forest Products
  • Gestamp
  • West Star Aviation

West Tennessee

10,300 jobs

$856 million

  • Target Corp.
  • Cummins, Inc.
  • Kellogg Sales Co.

TVA significantly exceeded last year’s results with a 15 percent increase in companies recruited/expanded in the region and a 20 percent increase in new and retained jobs. As a result, in 2015, Site Selection magazine recognized TVA for the tenth consecutive year as one of the Top 10 utilities in North America for economic development leadership and results.

“Companies who relocate or expand here are a testament to TVA’s affordable, reliable electricity and our partnerships with our local and state agencies and local power companies who help make the Valley an attractive place to do business,” Johnson noted.   

TVA’s economic development contributions have attracted and retained more than 346,000 jobs and over $40 billion in capital investments since 2009.

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 9 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