Bring Retail Development’s Potential Home

regional retail-01Because TVA considers retail development a great recruitment/expansion opportunity for communities, the organization recently hosted seven retail development events across the Valley. More than 250 community representatives attended the regional events to get insights about how to capitalize on retail market potential from expert area retail leaders.

After these sessions, here’s what participants said they would do, do differently, or stop:

DO:

Be proactive: Don’t wait until retailers find you; find them. Look for ideas in other like-size communities, and study which retailers follow other retailers. If a vacant property is becoming an eyesore, find a way to light up, liven up and use the space.

Work as one: Get rid of “community kingdoms.” Community organizations and local government must work together. When appropriate, your mayor could give prospects a courtesy call.

Be business friendly: Build a streamlined planning, zoning, parking and permitting process to save companies time and money. Educate property owners about setting land values and rent rates that reflect the region’s market value. Give prospects a single point of contact; show them your community is pleasant and easy to work with.

Know your community: Have details about traffic, households and average incomes in maps, talking points and photos. Share key messages with staff, board members and elected officials so they can be ambassadors.

Leverage success stories: Work with existing retailers to gather positive testimonials; share them with potential developers, site consultants and others.

Learn and network: To stay on top of this ever-changing industry, sign up for TVA’s Melissa Halsell’s LinkedIn retail group. Meet everyone you can – you never know where a lead is waiting.

DO DIFFERENTLY: (more…)

It’s a Good Time to Think Globally, Act Locally – Recent Survey Shines Light on Foreign Direct Investment

地球儀を持つビジネスマンIt’s a good time to think about Foreign Direct Investment (FDI). Foreign-owned companies operating in the U.S. employ 22 million Americans. They also pay wages that are 20 percent higher than sector averages, according to the U.S. Chamber of Commerce.

A case in point: Four of the five top job creators in Tennessee in 2013 were foreign direct investment-related – South Korea’s Hankook Tire, which plans an $800 million plant that will employ 1,800 in Montgomery County; Nissan’s expansion in Rutherford County that will add 1,400 jobs; expansions by Japanese-owned Calsonic Kansei North American in Bedford, Marshall and Rutherford counties that will add 1,200 jobs; and Swiss financial services giant UBS’ 1,000-job shared services operation in Nashville.

Why focus on FDI strategies right now? A recent survey by the Kearney consulting group of business executives worldwide found them primed to invest abroad next year.

The survey, called the 2014 Kearney FDI Confidence Index, is a poll of 300 company leaders around the globe. This year – for the second consecutive time – the U.S.A. tops these executives’ list of potential investment locations.

In fact, this year 49 percent of survey takers reported a positive view of the U.S. That’s the highest percentage the U.S. has earned since Kearney started the poll 16 years back. (more…)

Major Retailer Chooses TVA Region to Build Distribution Base

Big News.jpg. Digital Image. TVA Image.Great news for the Upper Cumberland area of the TVA region as Academy Sports + Outdoors Friday announced plans to locate a major regional distribution center in Cookeville, Tennessee. This will bring approximately $100 million in investment and 700 new jobs to the Valley area.

After conducting a multi-location site search, the company – one of the nation’s largest in sports, outdoor and lifestyle retail – will build a 1.6 million square-foot facility on 200 acres in Putnam County. From this optimal location with strong transportation infrastructure providing ready access to millions of U.S. consumers, Academy Sports + Outdoors will be able to quickly and reliably serve its existing 13-state trade area and also support expansion into contiguous markets.

Company President and CEO Rodney Faldyn recognized several economic development agencies, including TVA and the Upper Cumberland Electric Membership Corporation, in his announcement statement issued Friday. (more…)

Announcing a New Professional Learning Lab Webinar Series: D-Days of an Ethical Dilemma in Economic Development

TVA_ED_TVW_TypeTVA has an affiliation with the Professional Learning Laboratory, a network of professional economic development trainers and their guests, who offer webinars on topics specifically designed for the economic development practitioner, their staff, and supporters. The webinars are offered at a discount for individuals or groups through the TVA registration link below.

Webinar:  D-Days of an Ethical Dilemma in Economic Development

Presented by:  Jay C. Moon

Date:  Thursday, August 21, 2014

Time:  1:00 P.M. Central; 2:00 P.M. Eastern

Run Time: 90 minutes (60 minutes for presentation and 30 minutes of Q&A)

(more…)

SL Tennessee to Bring 1,000 New Jobs to Clinton

SL-TN-FrontBuildingSL Tennessee has announced it will expand its presence in Tennessee’s Clinton/I-75 Industrial Park. The expansion will bring $80.5 million and 1,000 new jobs to Anderson County, which sits in the eastern part of the state.

This will be the fifth time the South Korean automotive parts manufacturer has expanded since locating in Clinton in 2001. In addition to the manufacturing facility expansion, the company will be consolidating its North American data infrastructure to the Clinton location.

Company leaders credited the support they received from local, state and regional economic development agencies, including TVA, as a factor in their decision. They also pointed to the area’s high-quality workforce. (more…)

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