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TVA Receives IEDC Gold Excellence in Economic Development Award

iedc_logoTVA has received a Gold Excellence in Economic Development Award from the International Economic Development Council (IEDC) for its Megasites Certification Program. TVA was cited for excellence in the category of “multi-year economic development program for communities with populations of greater than 500,000.”

The honor was presented at an awards ceremony October 2 during the IEDC Annual Conference in Houston, Texas. The IEDC is the world’s largest independent nonprofit membership and research organization devoted exclusively to the field of economic development. 

"We recognize TVA for creating innovative and successful strategies to promote economic development in this period of global recovery,” said Jay Moon, IEDC chair. “Our awards honor organizations and individuals for their efforts in creating positive change in communities. TVA demonstrates that they are at the forefront of the economic development profession and are using cutting-edge, effective practices that can be replicated in other communities."

“It is with great satisfaction that we accept this prestigious global recognition on behalf of TVA, our customers and economic development partners,” said TVA Senior Vice President of Economic Development John Bradley. “The real winners are the Valley communities who have gained a tremendous number of jobs and investments in the past, and who will continue to benefit into the future as a result of the mega-business success of this Megasites Certification Program.”                  

TVA began to develop the Megasites Certification Program in 2004 when indications were that major international automotive OEMs might be searching in the coming years for new locations in North America, in order to move manufacturing closer to their markets.

This prompted TVA to create a “catalog of certified sites” ready for large manufacturers. Automotive consultant McCallum Sweeney Consulting was chosen by TVA to establish the criteria and administer the program.

Megasites are large parcels of land ready for industrial development. Being “ready” includes at least 1000 contiguous developable acres; utilities in place (or research done as to how much and when the infrastructure can be finished); and completed geo-tech and environmental surveys.

TVA’s Megasites program is a phenomenal multi-year community preparedness and “Megabusiness” success. Major company announcements by Severstal, PACCAR, Toyota, VW, and Hemlock Semiconductor are supporting 32,000-plus jobs and more than $5.65 billion in economic impact to the TVA region. 

There are two remaining Megasites available for sale in the TVA region, the I-24 Megasite in Hopkinsville-Christian County, Ky., and the Memphis Regional Megasite in west Tennessee. To learn more about these sites, visit www.tvaed.com/megasites.htm.