August 2008
In the Know
VW chooses Chattanooga Megasite for auto plant
Volkswagen Group of America (VW) announced in July that it will build an automotive assembly plant at the Enterprise South Industrial Megasite in Chattanooga, Tennessee. VW will invest about $1 billion in the new plant, where it will develop products for the American market. Approximately 2,000 direct jobs will be created. “This is an economic boost for the Tennessee Valley region,” says John Bradley, TVA’s Senior Vice President of Economic Development. “For each direct job, you can anticipate six to nine indirect or spin-off jobs, from auto suppliers to new positions in retail services.”
The Volkswagen decision has also sparked widespread interest in TVA's Megasites Program. Read an Associated Press story. Read about the four remaining megasites and other details of the Megasites Program.
Columbia, Tennessee company
credits TVA for assistance
“TVA’s economic development and procurement organizations assisted me with business and financial resources to acquire my company in 2001 and to grow it significantly through the years,” says Doug Venable, President of Porter-Walker LLC. “It’s a great feeling as I make the final loan payment to TVA. However, I can never repay them for the business guidance and friendships which have developed and helped me to expand.” Founded in 1907 in Columbia, Porter-Walker is a supplier of industrial, safety, and medical supplies to several large customers, including TVA. Congratulations to Doug and the 45+ Porter-Walker employees on this milestone! Find out more information about TVA’s minority- and woman-owned business resources. Also visit the Porter-Walker web site.
Ready to Go
Franklin County receives Community TaP certification
Franklin County, Tennessee, has been recognized for its leadership and participation in the Valley Targeted and Prepared Community Program (TaP). Developed by TVA and local power companies, the TaP Program is administered by Boyette Levy, an Atlanta firm that provides strategic and communications support to communities. Boyette Levy presented its findings and recommendations to Franklin County in July. The firm analyzed the community’s resources and strengths to target and recruit specific industry segments, increasing its potential for additional jobs and investment. Read more about Community Resources.
Best in Show
Valley states are tops for business
All seven states in the Tennessee Valley region have recently been named to lists of “the best” in various categories.
Alabama
Southern Business and Development magazine named Alabama “State of the Year” for its economic development performance in 2007.
Georgia
A Forbes special report on the best states for business ranked Georgia No. 5, up from No. 15 last year.
Kentucky
Kentucky’s workforce training programs have consistently ranked among the top 10 in the nation, most recently placing fifth in Expansion Management’s 2007 annual survey.
Mississippi
According to an independent study by a major American manufacturer, Mississippi's business climate is No. 1 among 23 states in which it has operations.
North Carolina
Forbes ranked North Carolina No. 4 in the nation for business.
Tennessee
Site Selection named Tennessee the ‘Most Competitive’ in economic development for 2007.
Virginia
Forbes ranked Virginia No. 1 in the nation for business.
Get to Know
Melissa Morgan, General Manager, Business Resources
Melissa Morgan is our new General Manager responsible for TVA Economic Development’s efforts in job creation and capital investment. Her focus areas include support of existing businesses, retail recruitment, minority- and woman-owned businesses, business incubation, Appalachian Regional Commission partnership activities, and loan portfolio administration. For more information about these program areas, see TVA Business Resources or e-mail us at econdev@tva.com.
Cool new search engine
We’ve all been “Googling” for quite a while, but have you heard about the new search engine that is gaining momentum? It’s called Cuil (pronounced cool). It indexes the whole Internet and sorts responses by relevance, not popularity. Check it out at www.cuil.pt.
Need help choosing the right search engine for your information needs? You’ll find a chart outlining the strengths of different search engines at Noodle Tools.