Resource Center News

Gov. Phil Bredesen told a group of business leaders today that he could have created far more jobs in Tennessee with federal economic stimulus dollars if they hadn’t arrived with so many strings attached.

“We could have created a lot more jobs if they would have trusted us a little more,” Bredesen said. “The states can do this.”

Tennessee has received $1.2 billion in stimulus funds so far, according to federal tracking site Recovery.gov, which has created or saved more than 13,000 jobs. Bredesen noted the state has received more money in private solar energy investments alone in recent years.

Tennessee’s economic development successes were the topic of a roundtable discussion today at Nissan Americas’ headquarters in Franklin. The discussion was the first in a series organized by the U.S. Chamber of Commerce, which has launched a strategic initiative aimed at creating 20 million American jobs over the next decade, that is highlighting successful efforts at the state level.

“Our report shows us states can be trusted,” said Margaret Spellings, a former U.S. Secretary of Education and executive vice president of the National Chamber Foundation. “We all know states really are the laboratories of reform.”

If praise from the chamber and gushing from business executives statewide is any indication, the outgoing governor’s pro-business legacy is secure. A report released by the chamber today praises Tennessee for flexible economic development packages, a pro-business tax and regulatory structure, the state’s focus on clean energy jobs, good infrastructure and programs such as TNInvestco, which used tax credits to create a pool of venture capital administered by private investment firms.

“Tennessee really does stick out as a winner in policy and programs,” said Mark Schill, an associate with Praxis Strategy Group, which prepared the report.

Bredesen credited efforts to remove economic development efforts from partisan politics and create an accommodating and predictable atmosphere for business. Bredesen said he made creating that environment everyone’s job, not just that of Economic and Community Development Commissioner Matt Kisber. As an example, he cited Revenue Commissioner Reagan Farr’s lead role in shepherding TNInvestco and other economic development programs through the state Legislature.

“A very pro-business environment in this state is a big reason why we’re here,” said Scott Becker, senior vice president of administration and finance at Nissan North America, which relocated its headquarters to Middle Tennessee four years ago.

Terry Strange, site manager for Hemlock Semiconductor Group’s $1 billion plant in Clarksville, said the site was chosen over about 60 locations.

The chamber report noted the state attracted more than $4 billion in investments in automobile, solar cells and advanced manufacturing in a single year. Tennessee has enjoyed net migration from other states every year of this decade.

“Americans are voting with their feet, and they are choosing Tennessee,” the report states.

Bredesen said he is confident the pro-business efforts of state government will continue next year due to the emphasis gubernatorial candidates have placed on jobs.

Click here to learn more about the U.S. Chamber’s strategic initiative.