Competitive Business Costs

Leaders at all levels of Tennessee government understand the necessity to generate profits and have established tax structures and incentives that enable competitive operations in a global economy.

As a result, Tennessee boasts a pro-business regulatory climate, as well as a top AAA rating from Moodys on its general obligation debt. The state's fiscal health rates among the best of all states, according to the Mercatus Center.  Forbes 2016

Tennessee ranks among the nation's best when it comes to low state and local taxation per capita, helped along by its lack of a personal income tax on wages and salaries. Area Development 2016 Top States for doing Business

Taxes

  • No state personal income tax
  • No state property tax
  • Competitive corporate taxes

Competitive Costs

  • Building costs 19% below the national average
  • Electricity provided by the Tennessee Valley Authority
    • Industrial electricity rates:   13% below the national average
    • Commercial electrical rates:  4% below the national average
    • Residential electrical rates:  10% below the national average

Workforce

  • Right-to-work state
  • One of 10 lowest unionized states in the U.S. with a rate of 5.2%. (vs. 10.7% national rate)
  • Over 1/3 of union members are in the public sector
    (Source: JobsEQ, 2016 current population survey, unionstats.com)
  • Competitive wages
  • Successful overhaul of tort and workers compensation laws. (TN ECD)
  • Customized workforce training
  • Extremely strong work ethics
  • State funded tuition to two-year colleges for high school graduates

#2
Infrastructure
CNBC 2016
#6
Business Friendliness
CNBC 2016
#10
Cost of Doing Business
CNBC 2016
#6
Regulatory Climate
Forbes 2016