SOURCE: Group C Media

January 17, 2014 14:06 ET

Tennessee Wins Business Facilities' 2013 State of the Year

Tinton Falls, NJ--(Marketwired - Jan 17, 2014) - Business Facilities, the premier print and online resource for corporate executives charged with relocating or expanding their companies, has announced Tennessee as its 2013 State of the Year. Business Facilities' competition singles out the state with the most economically significant relocation and expansion projects of the year.

The Volunteer State, which also won the magazine's top honor in 2009, joins Texas as the only multiple winner in the annual competition since the award was created in 2007 (the Lone Star State won in 2012 and 2007). "Tennessee continues to impress us with its aggressive execution of a diversified growth strategy," said BF Editor in Chief Jack Rogers. "The state has put in place a solid foundation for robust job creation for years to come."

Tennessee nailed down the 2013 crown with a solid mix of top projects that created 6,900 jobs and lured millions in investments from overseas producers for new and expanded U.S. manufacturing facilities. The state snared the top prize from South Korea, tire producer Hankook's first U.S. plant, an $800-million investment that will bring 1,850 jobs to Clarksville-Montgomery County over the next five years.

The Hankook Tire plant is one of a series of recent developments that have reinforced Tennessee's status as BF's top-ranked state for Automotive Manufacturing Strength, a crown it's held for four consecutive years. Nissan added 900 workers in Smyrna, TN to produce the popular Rogue SUV crossover; Alcoa is pouring $276 million to double capacity at its Blount County facility to meet growing demand for aluminum sheet in the automotive sector. "The Hankook and Alcoa commitments show that Tennessee is building a world-class supplier network to fuel the steady growth of its automotive assembly operations," Rogers noted.

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The preceding is an American Business Media Editorial Exclusive issued via Marketwired. Neither the ABM nor Marketwired are responsible for the content of the preceding document.

Founded in 1906, American Business Media is the association of business information providers, delivering business intelligence to industry professionals worldwide, including Madison Avenue, Wall Street and the Beltway. Its 300 plus member companies reach an audience of more than 100 million professionals and represent nearly 6,000 print and online titles and over 1,000 trade shows, with well over $26 billion in annual revenues.

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