Tennessee Advantages

Tennessee Governor Bill Haslam and the Department of Economic and Community Development have made the creation of high-quality jobs one of their top priorities, with outstanding results.

From 2011 to present, the State of Tennessee has assisted in the creation of over 285,600 jobs. Consistently ranked as one of the top states for business, Tennessee attracts companies in part because of the many incentives and advantages offered to help promote business success:

Financial

  • Numerous tax advantages and other financial incentives
  • No personal income tax
  • Industrial machinery tax credit of 1% to 10% for the purchase, third party installation and repair of qualified industrial machinery
  • Accelerated depreciation
  • Consistently one of the lowest per capita taxed states in the nation
  • Favorable workers’ compensation programs
  • Among the lowest utility costs in the nation

Infrastructure

  • Grant and loan programs such as the FastTrack Infrastructure Development Program
  • Infrastructure and training grants
  • Technical assistance for energy efficiency, environmental regulations, manufacturing technology, and other areas.

Workforce

The Tennessee Department of Economic and Community Development has teams of job development and recruitment specialists to assist new and existing businesses as well as communities. Its services include:

  • Help with planning, developing, and implementing customized training
  • Assistance in the recruitment of qualified job applicants
  • Technical, financial, and management information to small, minority, and woman-owned businesses
  • Community assistance with strategic planning and state and federal grants and loans
  • Support for entrepreneurial efforts in the technology sector
  • A broad range of energy-efficiency programs to business and industry