Magazine names Tennessee among best states to do business
| 11 March 2010
Tennessee has again been ranked among the top states in the nation in Site Selection magazine’s annual Governor’s Cup rankings for its economic development performance in 2009. The economic development publication put the Volunteer State at No. 5, the highest ranking of any Southeastern state.
The Governor’s Cup award recognizes states with the most new or expanded private-sector capital projects as tracked by publisher Conway Data Inc.’s New Plant Database.
The magazine gave its top ranking to the state of Ohio, followed by Texas, Michigan and Pennsylvania. In addition to the state’s recognition, a number of Tennessee municipalities were ranked among the top communities in the nation for economic performance. Memphis ranked No. 9 in metropolitans with a population of more than 1 million people.
Jackson and Morristown tied for sixth place on the Top Metropolitans list for cities with populations of less than 200,000 people. In the Top Micropolitan category, Tennessee tied for third place among all states, with a total of ten communities ranking among the top small cities in the country. Among Tennessee communities named, Tullahoma tied for twelfth place, and Cookeville and Lewisburg tied for seventeenth place.
Other Tennessee cities and towns named to the rankings include Greeneville, Humboldt, Athens, Columbia, McMinnville, Shelbyville and Union City. The tallies are based on expansion or relocation projects that meet at least one of three standards: a capital investment of at least $1 million, creation of at least 50 new jobs or creation of at least 20,000 square feet of new floor space. Only corporate projects are considered, meaning the magazine does not track retail or government projects, hospitals or schools.
