Celebrating Today, Building for Tomorrow

TVA Recognized as Top Utility for Economic Development 

A 20-year streak is no small feat, especially when it comes to driving economic growth. But that’s exactly what the Tennessee Valley Authority has accomplished.

For the 20th consecutive year, Site Selection Magazine has named TVA one of the nation's top utilities for economic development.

For everyone at TVA – but especially for TVA’s Economic Development team – the milestone is a point of pride.

“While it is certainly rewarding to be recognized for our efforts, we are proud of the impact we have on improving the quality of life for the people of the Valley region,” John Bradley, TVA Economic Development’s senior vice president said. “Knowing that our work helps drive growth and creates opportunities for the region is what motivates us.”

The recognition is a testament to the work TVA does every day in support of its communities and a reflection of its commitment to economic development and strong partnerships, Heidi Smith, TVA Economic Development vice president, said.

“This recognition highlights TVA’s mission to create opportunities for jobs and investments that drive economic growth," Smith said. “We are excited to continue collaborating with our partners to support that mission in the Valley region.”

Fostering Success

TVA’s recognition streak began in 2005 – the same year YouTube launched and the same year the Motorola Razr represented the latest in mobile tech.

Two decades later, TVA continues shaping the region’s economic landscape by attracting investments, creating jobs and transforming communities through workforce development programs.

Through strong community partnerships, in FY 2024 TVA helped attract more than 10,300 new jobs, with over 42,300 retained jobs and $8.9 billion in capital investment.

“Economic development is a team sport,” Bradley said. “The collaborative efforts with state, local, regional and local power company partners have strengthened economic growth opportunities across the Valley region. We’ve worked to build those partnerships and have yielded success because of them.”

Among the nearly 50 projects included in TVA’s recognition, Site Selection mentions Orano’s multibillion-dollar, 300-job investment in a uranium enrichment facility in Oak Ridge, Tennessee; Avance’s $54 million, 500-job investment in Haywood County, Tennessee; and Toyota Motor Manufacturing’s $282 million, 350-job investment in Madison County, Alabama.

TVA’s Workforce Invest program also earned praise, having funded 44 projects with a combined $5.9 million investment that’s expected to impact more than 5,000 trainees across the region.

And while announcing jobs and investments are substantial wins, TVA Economic Development takes a holistic approach when measuring success, Smith said.

“The success we’ve had can be attributed to the effort that’s put in before, during and after a project announcement,” she said. “I am proud of the work we’ve done developing programs and initiatives that help communities be better prepared for and in a more advantageous position for those economic growth opportunities.”

Smith also attributes the team’s success to developing and implementing strategies that address unique industry needs and align resources to deliver results.

“Our ability to adapt and adjust strategies based on market trends and the evolving needs of the communities we serve has allowed us to create solutions that not only help attract businesses but also support their long-term success in the region,” Smith said.

These initiatives reflect TVA’s mission of service to improve quality of life across its seven-state region.

“Economic Development is tied to TVA’s mission of service, and it’s a core part of who we are,” Bradley said. “Our Economic Development team is incredibly passionate about carrying out that mission and ensuring that we support our communities effectively.”

Eyes Toward the Future

Looking ahead, TVA is preparing for continued growth.

With more companies choosing the Valley region to launch or expand operations, TVA is investing more than $16 billion over the next several years to build new generation and enhance its power and transmission systems.

“The public power model is incredibly important to our success. Economic development is part of TVA’s mission and part of our purpose. This model allows us to focus our efforts on supporting our stakeholders,” Bradley said.

The TVA Board also approved up to $350 million to explore new nuclear opportunities including the development of a small modular reactor at the Clinch River site.

In August, TVA became the first U.S. utility to secure a power purchase agreement for electricity from a Gen IV reactor, partnering with Kairos Power and Google to pioneer a scalable, next-generation nuclear model.

Meanwhile, TVA’s InvestPrep, InvestReady and the industry’s first certified Megasite program continue to attract major projects like Amplify Cell Technologies’ nearly $2 billion investment in a 2,000-job battery cell production facility in Marshall County, Mississippi.

But along with great location advantages and low-cost, reliable power, the real “secret sauce” is the people behind the mission, Bradley said.

“Together, along with our partners, TVA has been a leader in the industry because of the work and dedication of our team and our shared commitment to helping improve the lives of the people we serve,” he said.