Tennessee Leads Nation with Four Corporate Investment & Community Impact Awards

Posted on: Friday - Mar 14, 2014

Trade & Industry Development Honors Hankook Tire, Eastman Chemical,
Calsonic Kansei and ProNova Solutions Projects

NASHVILLETrade & Industry Development, a leading economic development trade publication dedicated to corporate site selectors, today announced four Tennessee projects have received honors in its 9th annual Corporate Investment & Community Impact (CiCi) Awards, more than any other state.  Hankook Tire and Eastman Chemical were recognized in the Corporate Investment category, while Calsonic Kansei North America and ProNova Solutions were recognized in the Community Impact category.  All totaled, the four projects generated $2.6 billion in investments and created 3,825 new jobs for the state in 2013.

“Tennessee’s stellar performance in the CiCi Awards illustrates the momentum our state has in the pursuit of new jobs and investments,” Economic and Community Development Commissioner Bill Hagerty said.  “With an ideal location, unparalleled infrastructure and business friendly environment, Tennessee is aligned with the needs of the global business community.  I am pleased Hankook Tire, Eastman Chemical, Calsonic Kansei North America and ProNova Solutions have been honored for the difference they are making in our state and the value they bring to our distinguished business community.”

“Tennessee’s achievement of being home to four companies that are recipients of the 9th Annual CiCi Awards from Trade & Industry Development magazine speaks volumes about the business climate in Tennessee,” Scott Swoger, publisher of Trade & Industry Development, said. “Having two companies in the Corporate Investment category plus two more in the Community Impact category is an economic development achievement that should receive the full attention of corporate site selectors.”

Trade & Industry Development editors considered several hundred corporate economic development announcements made during 2013 to arrive at the award recipients.

Hankook Tire received an investment honor for its $800 million investment in a state-of-the-art manufacturing facility in Montgomery County, creating 1,800 new jobs.  Also in the investment category was Eastman Chemical for its $1.6 billion investment in Kingsport that will add 300 jobs to support new growth opportunities, safety and environment projects, increased warehouse capacity, building renovations and expansion of its corporate campus.

In the community impact category, Calsonic Kansei North America’s creation of 1,200 new manufacturing jobs and investment of $109 million across its facilities in Lewisburg, Shelbyville and Smyrna were honored.  Likewise, ProNova Solutions was selected for its community impact with the company’s announcement of a new headquarters facility and research and commercialization laboratory in Alcoa, representing the creation of 525 new positions and an investment of $50 million.  

The CiCi Awards are unique in that in addition to commemorating the largest capital investments for development or expansion announced within a designated year, they equally recognize projects for the positive impact they will have on a community, regardless of the amount of money invested by the corporation.

Among the criteria considered for CiCi recognition in the Community Impact category are the number of jobs created and/or retained, area unemployment figures, average income level of the region, area plant closings or decline in industry segments, and the creation of new industry segments with employment opportunities, among others.

For more information on the 9th Annual CiCi Awards, please visit www.tradeandindustrydev.com.

About Trade & Industry Development
Trade & Industry Development serves executives within specific vertical industries. Its mission is to help companies perpetuate success by providing clear and crucial insight into the challenge of site selection and facility planning. By working with thought leaders and experts in various fields, Trade & Industry Development provides actionable content that is both innovative and forward-looking. It is committed to being a valuable and trusted partner for C-suite executives, corporate real estate professionals and site consultants, enabling them to make the best-possible decisions – for themselves, their companies and their shareholders.

About the Tennessee Department of Economic and Community Development
Tennessee was named “2013 State of the Year” for economic development by Business Facilities magazine. The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tn.gov/ecd. Follow us on Twitter: @tnecd.  Like us on Facebook: facebook.com/tnecd.


CONTACT: Laura Elkins, ECD
PHONE: (615) 532-1910
EMAIL: [email protected]