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Incentives Dashboard

  • Average Grant per New Job
  • Grant Averages in Rural and Urban Areas
  • Grant Averages by FY17 Tier Designation
  • Average Grant per New Job

    The Tennessee Department of Economic and Community Development (TNECD) aims to support net new job creation and capital investment through its FastTrack grant programs. The FastTrack grant program is designed to help offset costs companies incur in job training (FJTAP), infrastructure development (FIDP), and a variety of other expenses associated with expansion and relocation activity (ED). 

    • During 2017 (YTD), TNECD has received 24 business commitments to create 2,951 new jobs and invest $675.2 million in capital across the State of Tennessee over a period of up to 5 years. The average FastTrack grant award per new job for 2017 projects is $4,633.
    • From 2011 through 2017 (YTD), TNECD has received 1,029 company commitments to create 136,388 new jobs. The average FastTrack incentive per new job commitment over this time period is $3,517.

     

    New Job Commitments by Year

    Average Incentive per New Job Commitment

    Capital Grants for Projects Locating January 2011 through January 2017:

    • *The State of Tennessee has awarded capital grants for a few significant projects.
    • The combined average FastTrack and Capital grant commitment per new job from 2011 through 2017 (YTD) was $5,918.

     

    Average Incentive per New Job Commitment

    *  Since 2011, capital grants or other non-tax incentives have been allocated for 8 of TNECD’s project commitments. This funding was appropriated for LG Electronics, St. Jude Children’s Research Hospital, General Motors, Nissan, Volkswagen Group of the Americas, Beretta USA Corporation, Hankook Tire Co. Ltd., and Eastman Chemical Company.

    Learn More About FastTrack

  • Grant Averages in Rural and Urban Areas

    During 2017 (YTD), 34.7 percent of TNECD’s new job commitments have located in rural counties. The share of job commitments in rural areas has decreased 5.6 percentage points from 2016.

     

    Rural Job Commitments as a Share of All Job Commitments

    Average Incentive per New Job

    Defining Rural Areas: TNECD considers counties to be urban where at least 50 percent of the county population is located within an urbanized area. Urbanized areas, defined by the U.S. Census Bureau, comprise larger places and the densely settled areas around them. Urbanized areas have an urban nucleus of 50,000 or more people. In general, they must have a core with a population density of 1,000 persons per square mile and may contain adjoining territory with at least 500 persons per square mile. 

    Learn More About Rural Development

  • Grant Averages by FY17 Tier Designation

    During 2017 (YTD), 63.9 percent of TNECD’s new job commitments located in tier 1 counties, 14.1 percent located in tier 2 counties, 11.2 percent located in tier 3 counties, and 10.8 percent located in Tier 4 counties.

    The average grant level per new job for projects locating between 2011 and 2017 (YTD) are available in the charts below.

     

    Share of Job Commitments by Tier

    Average Incentive per New Job

     

    New Job Commitments by Tier

    Learn More About TN Tax Tier Designations