Posted by: Jennifer McEachern
NASHVILLE — Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Randy Boyd along with Regal Entertainment Group announced today the company will locate its new corporate headquarters on Knoxville’s South Waterfront.
Regal, which operates the largest and most geographically diverse U.S. theater circuit, expects to create 75 new jobs.
“We want to congratulate and thank Regal Entertainment Group on their long-term commitment to Tennessee and the new jobs that will be created in Knoxville,” Haslam said. “Regal is a company that could do business anywhere in the country, and when a company like Regal chooses Tennessee over the rest of the country it sends the message that we can and will compete with anyone, and we are grateful that they will be here for years to come.”
The Regal Entertainment headquarters will occupy a nine-story, 178,000-square-foot building at the east end of the former site of Baptist Hospital along Knoxville’s rapidly redeveloping South Waterfront. South Waterfront redevelopment efforts began in 2007 with a public planning process initiated by Gov. Haslam during his tenure as mayor of Knoxville. In recent years, the city has invested in a new riverfront park, and the waterfront corridor has begun to attract new businesses and residential development.
“This was truly a team effort, Team Tennessee! Everyone from the county, the city, the chamber and the state worked intensely together and with Regal to find a real win-win,” Boyd said. “This is great for Knoxville and the entire state to keep a company like Regal growing and prospering here. However, it is really a transformative moment for South Knoxville and the waterfront. It will be a foundation for years of continued growth.”
“Regal Entertainment Group has been a part of the Knoxville community since its inception and we are excited about the opportunity to design a new modern space that will create an inviting atmosphere to meet our business needs for many years to come,” said Amy Miles, CEO at Regal Entertainment Group. “We are proud to be a part of the East Tennessee community and appreciate the collaborative efforts of the state, city and county to bring new ideas forward that enhance our hometown.”
The former Baptist Hospital closed in 2008, and the 23-acre site sat mostly vacant until Southeastern Development Associates (SEDA), formerly known as Blanchard & Calhoun Commercial Inc., purchased the property in 2013. Southeastern Development Associates is developing “One Riverwalk.” This mixed-use development will include 300 luxury apartments, student housing, hotel, retail shopping and restaurants, all surrounded by extensive public space including a riverwalk esplanade, parks and an entertainment plaza.
Knoxville leaders praised the collaborative effort to bring Regal to Knoxville’s waterfront as well the economic impact the company has on the East Tennessee community.
“Regal Entertainment has deep roots in East Tennessee and is a great corporate citizen and partner,” Knoxville Mayor Madeline Rogero said. “This is a fantastic opportunity to bring a major corporate headquarters to our rapidly redeveloping South Waterfront, and to keep hundreds of high-paying jobs here in Knoxville. Thanks to Regal, Governor Haslam, Commissioner Boyd, Mayor Burchett, TVA and Southeastern Development Associates for working with us to put this project together.”
“Regal Entertainment is an important economic driver in Knox County, and I’m happy we’re able to keep them here and help support Knoxville’s South Waterfront development efforts at the same time,” Knox County Mayor Tim Burchett said. “Our greatest asset in Knox County is our people, which is something Regal understands. That’s why they remain an important source of jobs and a significant community partner in our region.”
“Serving the people of the Valley by facilitating growth of companies with quality jobs in our region is fundamental to TVA’s mission,” TVA Vice President of Economic Development John Bradley said. “TVA and Knoxville Utilities Board congratulate Regal Entertainment Group on its commitment to continued growth in the community by announcing an expansion of its corporate headquarters in Knoxville. We are proud to partner with the state of Tennessee, City of Knoxville, and Knoxville Area Chamber Partnership to help foster the success of existing companies in our communities.”
Knoxville and Knox County are represented by Sen. Randy McNally (R - Oak Ridge), Sen. Becky Massey (R - Knoxville), Sen. Richard Briggs (R - Knoxville), Rep. Bill Dunn (R - Knoxville), Rep. Harry Brooks (R - Knoxville), Rep. Martin Daniel (R - Knoxville), Rep. Roger Kane (R - Knoxville), Rep. Eddie Smith (R - Knoxville), Rep. Jason Zachary (R - Knoxville) and Rep. Joe Armstrong (D - Knoxville) in the Tennessee General Assembly.
About Regal Entertainment Group
Regal Entertainment Group operates the largest and most geographically diverse theatre circuit in the United States, consisting of 7,357 screens in 571 theatres in 42 states along with Guam, American Samoa and the District of Columbia as of September 30, 2015. The Company operates theatres in 46 of the top 50 U.S. designated market areas. We believe that the size, reach and quality of the Company's theatre circuit not only provide its patrons with a convenient and enjoyable movie-going experience, but is also an exceptional platform to realize economies of scale in theatre operations.
About the Tennessee Department of Economic and Community Development
Tennessee was named 2014 and 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: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.