Despite the sluggish economy, Tennessee economic development officials point to at least $3 billion in investments they’ve landed since last July.
Volkswagen, Hemlock Semiconductor and Wacker Chemical are all companies that have announced projects in excess of $1 billion apiece.
Tennessee Economic and Community Development Commissioner Matt Kisber says the lucrative deals are payoffs, in part, from years of effort to upgrade the state’s appeal to growing businesses.
The Chattanooga Times Free Press reports Tennessee lured more than $5.4 billion in new capital investment in 2008 and is on pace for another multibillion-dollar recruitment year in 2009.
Investments from industry recruited or expanded since 2003 come to more than $27.5 billion, adding 167,419 jobs.
Source: WATE
