Tennessee has claimed a top honor in the 2007 Site Selection Governor’s Cup rankings, a 30-year tradition published by the magazine to honor states with the most new and expanded corporate facilities as tracked by Conway Data Inc.’s New Plant Database. Tennessee placed third with 293 corporate location projects.
"This is good news for Tennessee, and confirms that our state continues to build on its reputation as one of the most business-friendly states in the country," said Governor Phil Bredesen. "Site Selection’s Governor’s Cup rankings reflect Tennessee’s commitment to driving economic growth and developing a world class workforce through education and training."
The survey also ranked metro areas, broken down into four categories by size, based on their number of job creation projects. Tennessee had four cities on the top 10 metro lists, more than any other state. Nashville-Murfreesboro ranked sixth for metro areas of more than 1 million, Knoxville ranked tenth for metros between 200,000 and 1 million and in the 50,000-200,000 metro category, Morristown ranked second and Johnson City ranked fourth.
"From Governor Bredesen’s first day in office, the creation of higher skilled, better paying jobs has been a priority for us," said Matt Kisber, commissioner of the Tennessee Department of Economic and Community Development. "Seeing smaller cities like Morristown and Johnson City excel on a national platform demonstrates our priorities are in the right place: collaborating and developing partnerships with local communities and focusing on rural job creation."
The tallies are based on expansion or relocation projects that meet at least one of three standards: a capital investment of at least $1 million, creation of at least 50 new jobs or creation of at least 20,000 square feet of new floor area. Only corporate projects are considered, meaning the magazine does not track retail or government projects, hospitals or schools.
"Tennessee's third-place finish in our Top 10 ranking means the state's economic development strategy is not only sound, but quite effective in attracting corporate investment," Mark Arend, editor-in-chief of Site Selection says. "A significant number of companies – nearly 300 – have found the factors they need in Tennessee with which to grow their operations."
Site Selection, published by Conway Data, is the oldest publication in the corporate real estate and economic development field and the official publication of the Industrial Asset Management Council. Many corporate real estate analysts regard the magazine’s rankings as "the industry scoreboard." Site Selection’s circulation, 44,000 strong, consists of executives involved in corporate site selection decisions, most at the CEO/President/COO level.
To read more and see the complete Governor’s Cup rankings, visit Site Selection’s Web site, www.siteselection.com
Source: Tennessee Department of Economic and Community Development