| Oct 02, 2014
At yesterday's Annual Meeting, we were excited to share the results
of an outstanding year for our economic development efforts. Foreign direct investment played a major role in our region's strong economic performance in the 2013-2014 fiscal year. Twenty-four percent of our 121 corporate relocations and expansions were from foreign-owned companies, creating 7,723 new jobs and accounting for 40 percent of the total job creation in the region. More than 265 foreign-owned firm locations employ more than 37,000 people in Middle Tennessee.
The Nashville area exported $8.7 billion in 2013, a 35 percent increase over 2012. With strong trade relationships with countries such as Canada, Mexico, the U.K. and Japan, Tennessee remains the 14th-ranked U.S. state for exports -- especially impressive for a state with no coastline.
Foreign-owned relocation highlights:
Beretta – 300 new jobs, Italy
Hankook Tire – 1,800 new jobs, Korea
Schwan Cosmetics USA – 250 new jobs, Germany Foreign-owned expansion highlights:
ABC Group Fuel Systems Inc. – 200 new jobs, Canada
Electrolux – 466 new jobs, Sweden
UBS – 1,000 new jobs, Switzerland
Unipres – 880 new jobs, Japan
This graphic from our 2013-2014 Annual Report shows the significant impact foreign direct investment has on Middle Tennessee's ...