Business magazine names Tennessee '2013 State of the Year'

(WBIR) A national business magazine named Tennessee the "2013 State of the Year."

Business Facilities said the Volunteer State joins Texas as the only multiple winner since the competition started in 2007. Runner-ups were Utah, Texas, Louisiana, Georgia, and Pennsylvania.

Tennessee's top five economic development projects created a total of 6,900 jobs, $3.2 billion in capital investment, and included seven expansions along with three new recruitments. The magazine picked the state after evaluating the top five projects for number of jobs created and the amount of capital invested from October 2012 - October 2013.

Bill Hagerty, economic and community development commissioner, said the state saw unprecedented economic growth last year.

"The global companies that invested capital in our state and the number of jobs created demonstrate to the world that Tennessee not only provides a top-notch business environment, but also the ongoing support needed for success," wrote Hagerty in a statement. "I am extremely pleased by this award and look forward to another successful year."

East Tennessee didn't have any of the top five projects for jobs listed in the magazine, but Alcoa, Inc. in Blount County did land the number five spot for top projects for capital investment.

Top five projects for jobs:

  1. Hankook Tire Company (Montgomery County): 1,800 jobs
  2. ARAMARK (Davidson County): 1,500 jobs
  3. Nissan North America, Inc. (Rutherford County): 1,400 jobs
  4. Calsonic Kansei North America, Inc. (Beford, Marshall and Rutherford counties): 1,200 jobs
  5. UBS (Davidson County): 1,000 jobs

Top five projects for capital investment:

  1. Eastman Chemical Company (Sullivan County): $1.6 billion
  2. Hankook Tire Company, Ltd. (Montgomery County): $800 million
  3. International Paper Company (Shelby County): $321 million
  4. Nike, Inc. (Shelby County): $276 million
  5. Alcoa, Inc. (Blount County): $275 million

List of additional national honors Tennessee earned in 2013:

  • No.1 in the U.S. for automotive manufacturing strength for four years in a row in Business Facilities
  • Site Selection ranked Tennessee in the top five states with the best business climate
  • Chief Executive Magazine ranked Tennessee the fourth best state in U.S. for business


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