ࡱ> %` ;bjbjNN 4^,,h3&)))8)T:*4oRz*z*"***w+w+w+o o o o o o o$phYsDoU9w+w+U9U9Do**Yo;;;U9**o;U9o;;iXzl*n* ')9vj(n$oo0okls_:sPzlszlw+10`;3E6w+w+w+DoDo#;dw+w+w+oU9U9U9U9JdJ Oak Ridge Rotary Club January 29, 2009 Commissioner Matt Kisber Tennessee Department of Economic and Community Development Thank you very much for the opportunity to be with you today. I welcomed to chance to speak to you today because Im truly excited by whats happening in Tennessee in the area of economic development, and I wanted to talk a little bit about what I consider Tennessees strategic advantages when it comes to job creation. Only a few months ago, I had the opportunity to travel to Germany with Governor Bredesen to meet with the leadership of Volkswagen and to discuss attracting additional investment as the company sets up its supplier network. It was a fascinating trip, not just because I feel we have some strong leads on additional companies investing in Tennessee, but because Volkswagen also gave us some unique insight into the process they used for selecting Chattanooga. A little later I hope to share some of that with you. But first, I want to look back at our efforts in 2008. I dont think many people in this room will disagree with me when I say that 2008 was an absolutely terrible year for business expansion and industrial development. The U.S. economy wound up facing the steepest decline in more than 70 years, as credit markets seized up and Wall Street started a deep decline that wound up carving nearly 36% out of the value of the market and costing investors literally trillions of dollars in capital and bringing dozens of expansion projects to a grinding halt. As I stand here today, U.S. companies are in the midst of earnings announcements and the shedding of jobs seems to be a common theme as most Fortune 500 companies struggle to regain their balance. In that kind of environment, many of our competing states have reigned in their efforts and are now focusing on scaled-down programs aimed at smaller projects at smaller companies. I think thats a worthwhile goal for them. Small businesses make up the vast majority of Tennessee companies and at ECD, were continuing to look at how we can help small businesses drive job growth. For example, ECDs Business Enterprise Resource Office works to connect small and diversity businesses with large corporations and federal, state and local government agencies that have actual contract opportunities to stimulate small business jobs and economic growth. And I work for a governor who doesnt believe in the idea of pulling back. Therefore, were continuing to market Tennessee as aggressively as we ever have, and Im here to tell you that the pipeline of projects were in discussions with is as full as it has been at any time since Ive been at ECD. Thats one of the reasons weve had a string of successes recently. In addition to the Volkswagen project I alluded to earlier, a $1 billion dollar investment creating more than 2,000 new jobs in the Chattanooga area, weve also seen success in attracting the so-called green collar jobs youve heard President Obama and others talking about in recent days. Hemlock Semiconductor announced its plan to build a plant in Clarksville, Tennessee to manufacture polycrystalline silicon, a primary component in the manufacture of solar panels. Hemlock announced an initial investment of $1.2 billion dollars, but admitted they fully expect the company to spend $2.5 billion dollars or more in Tennessee and create nearly 900 new jobs. Projects such as Hemlock create an anchor around which further development and job creation can grow in the years to come. And theres a distinct possibility the investment could grow even larger. Many of the long-term customer contracts that allowed Hemlock to feel secure enough to announce that investment are already in place, and company officials have told me they are very bullish about the future of the sustainable energy sector. If their take on the future of renewable energy is correct, Hemlock could wind up being the largest private capital investment in Tennessee history, creating jobs that are highly skilled and pay very good wages. In Gallatin, Shoals Technologies is also in the renewable energy sector. Although they havent garnered as much attention as Hemlock, their $10 million investment will create 100 jobs and company officials say theyre on track to employ 300 people in Gallatin within three years. And were not done yet. If all goes as planned, I fully expect additional announcements in the renewable energy sector in the next few months, and I hope to be able to tell you that Tennessee has attracted more than $3 billion dollars in new capital investment in a six month period. All of this activity has pushed Tennessee to the forefront of the economic development arena, and I can tell you that our phones continue to ring. Companies taking a long range view of their businesses are asking us why Tennessee has been so successful when our competitors are frankly struggling. I tell them Tennessee has a couple of strategic advantages. First, we have a governor who is an entrepreneur and whos been a CEO, so theres a level of understanding between Tennessees chief executive and the chief executive officer who has to make an expansion or relocation decision. Governor Bredesens been in their shoes. He knows the right questions to ask, and more importantly, he knows the right answers to give. Secondly, when Governor Bredesen first came into office, he knew the frustration companies face when theyre looking at a location and getting different data or contradictory answers from the state and local people working on the project. Thats why he created the Jobs Cabinet, a panel of state agencies and representatives of the business and higher education communities whose job it is to eliminate bureaucracy in economic development and to provide a single source of contact for companies looking at Tennessee. I often tell people that one of Tennessees key advantages is the close working relationship we at ECD have developed with the Tennessee Department of Revenue. I cant tell you the number of times Ive gone to pitch companies on Tennessee, accompanied by Revenue Commissioner Reagan Farr, and companies are amazed that the states chief economic developer and chief tax official are working together on job creation. The reality is that companies want certainty when it comes to the promises states make, especially in the area of tax treatment, and Tennessees approach has proven to be very attractive to companies, no matter what sector of the economy they operate in. A lot of states we compete against SAY they can speak with one voice on incentives and tax issues, but very few have actually been able to deliver on that promise. Tennessees approach in this area has proven to be a key differentiator for our state, and our success can be seen in our numbers. In 2008, ECD successfully worked on over 1,000 individual expansion or relocation projects. Those projects resulted in more than $5.4 billion dollars in new capital investment and the creation of more than 22,000 new jobs. For those of you keeping track, thats 150,000 new jobs since Governor Bredesen came to office and more than $23 billion in new capital investment. Much of our success in recent months has focused on the area of clean energy technologies and the jobs that sector can create. The Tennessee Department of Labor recently reported that continued investment by clean energy companies in Tennessee could result in the creation of more than 40,000 new jobs and suggested that we need to be prepared to invest in K through 12 and higher education to develop the workforce necessary to take advantage of this growing sector of the economy. Volkswagen, for example, is making great strides in the development of clean diesel technologies, and Nissan is working closely with the state to develop a network of charging stations for the new, battery-powered, zero emission vehicle the automaker hopes to debut in 2010. Both of these companies could push Tennessee to the forefront of the development of green collar jobs, which makes me very optimistic for the future of our state. In the case of Volkswagen, we have an automotive company with a very strong commitment to environmental stewardship. In fact, Volkswagens done some very advanced work in developing their clean diesel technologies and VW produces a number of vehicles with negligible emissions. Volkswagen made it very clear that Tennessees focus on attracting sustainable investment is one of the reasons they chose Tennessee, and despite a significant downturn in the auto industry, VW hasnt waivered in its commitment one bit. Just this week the company began construction on the paint shop, the largest of the three planned buildings on the site. Volkswagen is the worlds third largest automaker, but they only have about a 3 % share of the market in North America, the worlds largest car market. Thats why they truly believe their Tennessee facility will play a vital role in their global strategy going forward. Their selection process was a fascinating one. They started with a list of 398 metropolitan statistical areas scattered across the U.S. They then put their database through several filters. They wanted the facility to be able to communicate and hold conference calls with Germany, so they eliminated all sites that werent in the Eastern or Central time zones. They knew logistics would be essential to production, so they filtered all sites receiving 16 or more inches of snow annually. They also wanted an adequate labor pool, so they screened communities with a population of less than 100,000 people. Disruption of utilities and infrastructure were factors, therefore hurricane-prone areas along the coasts were filtered out, as well as sites with a high probability of earthquakes and tornados. They also wanted a site within 60 miles of an airport with flights to Washington-Dulles, so there could be a connection with their North American headquarters in Virginia. That screened the 398 MSAs down to 12 sites in seven states, and representatives of those states were invited to an informational meeting in Dallas, TX. Each state was given three weeks to pull together a detailed proposal, and after all the sites were visited, the short list was narrowed to three: Huntsville, AL, Marshall, MI and Chattanooga, TN. Detailed data on each of the sites was put through a matrix, and in July of 2008, VW announced that Chattanooga had been selected. Now, in addition to all of the factors I cited earlier, business climate, tax and regulatory structure, political leadership and environmental focus, I truly believe Chattanooga was selected because it was READY. The state and the community had worked together to do all of the work necessary to market Enterprise South for development: the land was under local control, the road and rail infrastructure was in place, and the state and local community was committed to training the workforce to the level of readiness VW needed. It took years of diligent effort to bring Enterprise South to the level of readiness it was at when VW selected it, but that diligence paid off. I think the same could be said for the Clarksville site later chosen by Hemlock Semiconductor. Companies tell us having a certified megasite like the ones Ive just mentioned can reduce the length of time it takes to make a project happen by 6-to-18 months, and shortening that development process is a quantifiable cost reduction for many companies. So, when Tennessee communities come to us and ask what they can learn from the VW process or the Hemlock process, I tell them it depends in large part on the hard work theyre doing now strategic planning, developing infrastructure, and perhaps most importantly of all, raising the achievement level of their K through 12 student population, so that a company will have a ready, trainable workforce. All of those steps are things successful communities have done to make themselves more marketable to companies. And while success in those areas wont guarantee new jobs and investment, theyll certainly increase your odds of winning projects when facing off against competing sites in the U.S. and around the world. Our recent successes have generated a buzz around Tennessee and the global business community is paying attention. Business leaders and site selection consultants realize there are some very intelligent decision-makers at companies like VW and Hemlock, and theres a reason why theyve chosen Tennessee. Last year, the highly regarded Site Selection magazine named Tennessee the most competitive state in the nation with the second-best business climate. Forbes has called Tennessee the most improved for economic development. None of these accolades and successes would have been possible without teamwork on the city, county and state levels. If we continue to lock arms and work together, there is no limit to what we can accomplish. I want to thank you for your time and attention. If theres any time left, Im certainly happy to answer your questions. ###     PAGE  PAGE 13  '()6A|}~G ɸtfUD3 hOhDVCJOJQJ^JaJ hOhL CJOJQJ^JaJ hOhOCJOJQJ^JaJhaCJOJQJ^JaJ hOhfCJOJQJ^JaJ hOhhMCJOJQJ^JaJ hOh>QCJOJQJ^JaJ hOh)ztCJOJQJ^JaJ hOh CJOJQJ^JaJ#hOhE=j5CJOJQJ^JaJ#hOh>Q5CJOJQJ^JaJ#hOha5CJOJQJ^JaJ'()B}~ pdgd0$a$gdah;;G I L M D E  !   & ' v w   r&ͼＫ޼ޫޫޫx hOhoCJOJQJ^JaJ hOh5CJOJQJ^JaJ hOh9#CJOJQJ^JaJ hOheCJOJQJ^JaJ hOhDVCJOJQJ^JaJ hOhE=jCJOJQJ^JaJ hOhv3CJOJQJ^JaJ hOhaCJOJQJ^JaJ)pqJKwx dgd0&(:<Ik!06HJKN ,03QSͼͫͫͫޚޚއveveT hOh+CJOJQJ^JaJ hOh9#CJOJQJ^JaJ hOhv3CJOJQJ^JaJ$hOh9#0JCJOJQJ^JaJ hOh7gCJOJQJ^JaJ hOhK@TCJOJQJ^JaJ hOhgiCJOJQJ^JaJ hOheCJOJQJ^JaJ hOh5CJOJQJ^JaJ hOh2tCJOJQJ^JaJ @^ U 0MO/3mnp134ͼޫxͼͼggg hOho.CJOJQJ^JaJ hOh"CCJOJQJ^JaJ hOh0CJOJQJ^JaJ hOhoCJOJQJ^JaJ hOhb\CJOJQJ^JaJ hOh9#CJOJQJ^JaJ hOhv3CJOJQJ^JaJ hOheCJOJQJ^JaJ hOh+CJOJQJ^JaJ(4|~L/12st ! 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