TVA Economic Development Efforts Drive Solid Investment During FY 2016
KNOXVILLE, Tenn. — The Tennessee Valley Authority announced another successful year in economic development activity by growing or retaining 72,000 jobs and stimulating $8.3 billion in capital investment in the TVA service area in fiscal year 2016.
TVA attributed the 2016 gains to two factors: more opportunity due to an increase in new projects the past couple of years, and the competitive and reliable power provided by TVA and its local power company partners.
“TVA electricity powers the region’s economy around the clock,” said TVA President and CEO Bill Johnson. “Our economic development team works directly with local power companies, economic development agencies and others to bring good jobs to the region and keep them here.”
Nearly 250 companies were recruited to the Tennessee Valley or expanded their existing operations in FY16, resulting in attracting and retaining over 72,000 jobs, while boosting economic growth across a variety of industrial sectors.
FY16 TVA Economic Development Year-end Results
|Jobs Attracted/Retained||Business Investment|
|Alabama||9,262 jobs||$832 million|
|Kentucky||4,388 jobs||$645 million|
|Middle Tennessee||21,064 jobs||$2.8 billion|
|Mississippi||1,882 jobs||$229 million|
|Northeast Valley||15,668 jobs||$2.3 billion|
|Southeast Valley||11,844 jobs||$573 million|
|West Tennessee||8,000 jobs||$927 million|
As a result, in 2016, Site Selection magazine recognized TVA for the eleventh consecutive year as one of the Top 10 utilities in North America for economic development.
Led by Senior Vice President John Bradley, TVA’s economic development team has worked with local, regional and state partners to attract and retain more than 418,000 jobs and over $48 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.
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