The Tennessee Valley Authority claims that its economic development helped stimulate $5.9 billion in business investments in the TVA service area in fiscal year 2012.
John Bradley, TVA senior vice president of Economic Development, said TVA’s efforts helped recruit or expand more than 150 companies, resulting in the creation and retention of 48,000 jobs.
“Creating jobs, helping local communities, and improving quality of life in the Tennessee Valley is what TVA Economic Development is all about,” said Bradley. “We thank our many partners — local power companies, industry, state and local officials, and others — for helping make these programs so successful.”
Since 2005, TVA’s economic development programs are credited with helping create or retain 300,000 jobs and $32 billion in business investment.
The state-wise breakup in the TVA service area is as follows:-
- Alabama : 7,800 jobs and $1.2 billion;
- Kentucky: 4,800 jobs and $957 million;
- Middle Tennessee: 11,700 jobs and $1.2 billion;
- Mississippi: 5,100 jobs and $504 million;
- Northeast Tennessee and Virginia: 6,300 jobs and $506 million;
- Southeast Tennessee, Georgia and North Carolina: 4,450 jobs and $412 million; and
- West Tennessee: 8,400 jobs and $1.0 billion
The top business investments and expansions from companies participating in TVA Economic Development programs in 2012 include:-
- $53.7 million and 800 jobs by Magneti Marelli in Pulaski,TN;
- $500 million and 200 jobs by Carpenter Technology Corp. in Limestone County, AL;
- $8 million and 500 jobs by Agero in Clarksville, TN;
- $9.5 million and 207 jobs by Propulsys in Hopkinsville, KY;
- $130 million and 150 jobs by Roxul, Inc., in Byhalia, MS; and
- $15 million and 150 jobs by Mann Hummel in Dunlap, TN.
TVA was named for the seventh straight year to Site Selection magazine’s list of the top 10 utilities in North America for economic development. They also won a Gold Award for the Megasites Program from the International Economic Development Council (IEDC) for excellence in economic development.
The Tennessee Valley Authority is a corporation owned by the U.S. government, and provides electricity for business customers and distribution utilities that serve 9 million people in seven states. TVA is a non-profit entity and receives no taxpayer funds. TVA provides flood control and land management, and assists utilities and state and local governments with economic development. For more information, visit TVAed.com.