Program to help communities identify industrial sites for economic development projects
NASHVILLE – The Tennessee Department of Economic and Community Development (TNECD) announced today the counties chosen to participate in the latest round of the Select Tennessee Property Evaluation Program (PEP).
The counties selected in this round of PEP include Marion, Shelby and Weakley.
Started in 2015, PEP is designed to improve the inventory of industrial sites and buildings in Tennessee. The program evaluates potential properties, advising counties on where investment may be most beneficial and how sites can be improved to attract prospective companies. By helping communities understand which sites are the most viable, community leaders can focus their economic development investments.
“I want to congratulate the three communities chosen to participate in this round of PEP,” TNECD Commissioner Bob Rolfe said. “With the assistance of this program, these communities are taking the steps to enhance and improve their sites, which will create future economic development and encourage growth in Tennessee as a whole.”
PEP originates from the department’s Select Tennessee Certified Sites Program. With the assistance of site selection firm Austin Consulting, PEP benefits participating counties by providing guidance on site planning for future industrial development projects.
“The Property Evaluation Program is an efficient and effective means of identifying whether or not a property is suited for future industrial investment,” Director of Austin Consulting, Jonathan Gemmen said. “Yet, the program also gives a community more information; some properties are recognized as intermediate and long-term opportunities, allowing community leaders to establish development strategies and understand costs of implementation.”
For counties selected to participate, PEP includes an educational webinar on the site selection process, an on-site visit by Austin Consulting and TNECD, and a comprehensive assessment addressing the strengths and needs of a community’s inventory of industrial sites. This assessment also offers recommendations for communities to improve marketability.
PEP selection was based on the demonstrated local need for industrial properties and the county’s ability to assemble viable properties with market potential.
The application process begins with the submission of a letter of intent, which is accepted at any time. Upon receipt of the letter, interested communities will be provided with the PEP application. A new round of communities will be accepted into the program in the spring of 2019. For more details on the PEP, click here.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Tennessee, the department seeks to attract new corporate investment to the state and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter and Instagram: @tnecd. Like us on Facebook: facebook.com/tnecd.
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