In Good Company

Spring Investments Strengthen Local Economies

From April to June, the Valley region welcomed a wave of new investments spanning industries like manufacturing, technology, and food and beverage.

For those inside TVA’s seven-state service area, these investments translate to thousands of jobs, hundreds of millions in capital investment and meaningful long-term economic momentum for local communities.

What’s drawing these companies to the region?

A combination that’s hard to beat: affordable and reliable energy provided by TVA, a high quality of life and access to highly skilled talent.

“Job creators are chasing talent," said Jeff Hite, Chief Economic Development Officer at the Nashville Chamber of Commerce. “Of course, a company has to check all the boxes – business friendly, tax friendly, cool, hip, safe, affordable, collaborative and all of the quality-of-life benefits.

“But ultimately, the human capital piece is driving these decisions. Companies can recruit here. They can scale here. And just as importantly, people want to live here.”

From left to right, Tennessee Department of Economic and Community Development Commissioner and Deputy Gov. Stuart McWhorter; Starbucks Executive Vice President and Chief Financial Officer Cathy Smith; Nashville Mayor Freddie O’Connell; Tennessee Gov. Bill Lee; Starbucks CEO Brian Niccol; Starbucks Executive Vice President and Chief Operating Officer Mike Grams; TVA Economic Development Vice President Heidi Smith; Nashville Area Chamber of Commerce CEO Stephanie Coleman; Starbucks Executive Vice President and Chief Communications and Corporate Affairs Officer Dominic Carr.

Starbucks

Starbucks, the global coffee and consumer products company, announced plans to establish regional operations in Nashville. Plans for the company’s new Southeast corporate office include creating 2,000 new jobs and investing $100 million.

Economic development partners include Nashville Electric Service, Metropolitan Government of Nashville and Davidson County, Nashville Area Chamber of Commerce and the Tennessee Department of Economic and Community Development.

Lumber Liquidators

Lumber Liquidators announced plans to establish headquarters and warehousing operations in Lawrenceburg, Tennessee. Plans for the project include creating 76 jobs and investing $32.4 million in the company’s Lawrence County facility.

Economic development partners include Lawrenceburg Utility Systems, the Lawrence County Chamber of Commerce, Middle Tennessee Industrial Development Association, and the Tennessee Department of Economic and Community Development.

JST

This global leader in design and manufacturing of electronic connectors announced plans to expand operations in Guntersville, Alabama. Plans for the project include creating 80 jobs and investing $500 million in the company’s North Alabama operations.

Economic development partners include North Alabama Electric Cooperative, Guntersville Industrial Development Board, the city of Guntersville, Marshall County, and the Alabama Department of Commerce.

Stella-Jones

A Canadian infrastructure product manufacturer, Stella-Jones, announced plans to establish operations in Lincoln County, Tennessee. Plans for the project include creating 230 new jobs and investing $45 million in the company’s new steel lattice tower manufacturing facility.

Economic development partners include Fayetteville Public Utilities, Fayetteville-Lincoln County Industrial Development Board, Middle Tennessee Industrial Development Association, and the Tennessee Department of Economic and Community Development.

Underground Solutions

This infrastructure technology company announced plans to establish operations in Batesville, Mississippi. The company plans to invest $80 million in the manufacturing facility and create 50 new jobs.

Economic development partners include Tallahatchie Valley Electric Power Association, Panola Partnership and Mississippi Development Authority.

Virginia Transformer

North America’s largest power transformer manufacturer, Virginia Transformer, announced plans to establish operations in Muscle Shoals, Alabama. Plans for the project include creating 1,100 new jobs at the company’s state-of-the-art operations in Colbert County. 

Economic development partners include Muscle Shoals Electric Board, Shoals Economic Development Authority, Alabama Department of Commerce, Norfolk Southern, the city of Muscle Shoals and Colbert County.