Posted by: Jennifer McEachern
Counties chosen for industrial inventory assessment program
NASHVILLE — The Tennessee Department of Economic and Community Development announced today the five counties chosen to participate in the fall round of the Select Tennessee Property Evaluation Program (PEP). The counties selected are Decatur, Greene, Grundy, Hickman and Putnam.
The purpose of Select Tennessee PEP is to improve the inventory of industrial sites and buildings in Tennessee. Launched in 2015, the program provides counties with the tools they need to make themselves more marketable to potential new business.
“Congratulations to the counties that have been selected to participate in the Select Tennessee PEP fall round. These five counties join the twenty others that have gone through the program to date,” TNECD Commissioner Randy Boyd said. “What’s unique this round is that each county is located in a different Tennessee region, which is evidence that communities throughout the entire state have a shared desire to become more marketable, recruit new business and inevitably improve the lives of their citizens.”
“Prepared and available industrial properties are necessary for communities to be competitive for industrial recruitment,” TNECD Site Development Director Leanne Cox said. “This program will help these five counties be better equipped to attract potential new business. I look forward to working with each of these counties and, in turn, improve our state's recruitment efforts throughout Tennessee."
In collaboration with Austin Consulting, a leading site selection consultant, this program provides professional advice about the value of a community’s site and the potential for new corporate investment.
“The Property Evaluation Program allows for an honest assessment of a county’s potential industrial sites and existing industrial buildings,” Jonathan Gemmen, director of Austin Consulting, said. “Moreover, it creates an opportunity to build consensus on which properties have the greatest chance of bringing jobs and capital investment to a community.”
Austin Consulting will visit each of these communities to evaluate candidate properties, assess community attributes and meet with local officials, staff and stakeholders. From this visit, Austin will prepare a report that addresses each property’s strengths and weaknesses and recommend steps to take to improve the marketability of the property and community.
To apply for Select Tennessee PEP, interested counties must first fill out a Letter of Intent, which is accepted at any time. Upon receipt of the letter, counties will receive an application. TNECD then selects the communities based on the local need for industrial properties and the county’s ability to assemble up to five viable properties with market potential.
About the Tennessee Department of Economic and Community Development
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. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Tennessee is the only three-time winner of “State of the Year” for economic development by Business Facilities magazine. Find us on the web: tnecd.com. Follow us on Twitter: @TNECD. Like us on Facebook: facebook.com/TNECD.