Jamie Stitt
Assistant Commissioner, Business and Workforce Development
Tennessee Department of Economic and Community Development
312 Rosa L. Parks Ave., Nashville, TN 37243Common Search Terms
We Proudly Serve the World.
We’ve created an environment unbound by state borders. No other state is more competitive in recruiting foreign direct investment or in exporting products enjoyed the world over. We’ve established resources that make Tennessee accessible to any international market.
We’re in it for the long term. By investing in a broader international footprint, we’ve ensured that Tennessee is firmly entrenched in the new global economy.
The Volunteer State is home to 1,000+ foreign-based businesses that have invested over $47 billion in capital and employ more than 161,900 Tennesseans. Tennessee continues to proactively identify and recruit new foreign direct investment (FDI) to the state alongside efforts to increase Tennessee exports. Our state has offices courting foreign direct investment in Japan, South Korea, Ireland, Spain, Austria, Germany, Switzerland, Italy, the United Kingdom, Belgium, Luxembourg and the Netherlands. We work closely with our federal partners to promote exports, which totaled more than $38.3 billion in 2022. This investment demonstrates Tennessee’s commitment to competing globally for business and jobs, which is not something that most states can claim.
In 2022, the Tennessee Department of Economic and Community Development received 18 project commitments from foreign-owned businesses, resulting in 3,449 job commitments and almost $5 billion in capital investment. These major foreign projects included Korean-owned LG Chem America Inc. (860 new jobs, $3.2 billion in capital investment), Japanese-owned Bridgestone Americas Tire Operations, LLC (380 new jobs, $550 million in capital investment), Australian-owned Tritium Technologies, LLC (510 new jobs, $15.3 million in capital investment), and Korean-owned Hankook Tire Co., Ltd (397 new jobs, $612 million in capital investment).
We believe in high expectations, low debt and a pro-business regulatory environment. Tennessee is proud to be a right-to-work state with no personal income tax. Our state and local tax burdens are some of the lowest in the country. We have the lowest debt per capita among U.S. states and Tennessee’s budget operates with a healthy surplus.
Quick Facts
1000+
Foreign-based establishments in Tennessee
161K+
Tennesseans employed by foreign-based establishments
$47+
Billion in capital invested in Tennessee by foreign-based establishments
Volkswagen
Beretta
Hankook Tire
Bridgestone
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Top Exported Products
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Commodity 2018 2019 2020 2021 2022 Medical Equipment & Supplies (3391) $3.3 B $3.9 B $4 B $4.3 B $4.2 B Pharmaceuticals & Medicines (3254) $701 M $875 M $960 M $2.9 B $2.6 B Navigational/Measuring/Electromedical/Control Instruments (3345) $2.1 B $2.1 B $2 B $2.4 B $2.4 B Basic Chemicals (3251) $2 B $1.8 B $1.6 B $2 B $2.1 B Communications Equipment (3342) $845 M $722 M $1.1 B $2 B $2.0 B Motor Vehicles (3361) $2.8 B $2.5 B $1.6 B $1.6 B $1.9 B Resin, Syn Rubber, Artf & Syn Fibers/Filaments (3252) $1.4 B $1.5 B $1.3 B $1.6 B $1.9 B Navigational/Measuring/Medical/Control Instrument (3341) $1.1 B $1.3 B $883 M $1.4 B $1.8 B Motor Vehicle Parts (3363) $2.3 B $1.9 B $1.4 B $1.3 B $19.4 B Engines, Turbines & Power Transmission Equipment (3336) $925 M $864 M $687 M $886 M $38.3 B -
Top Ten Countries for Tennessee FDI
Data current as of March 2023.
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Foreign Country # of Establishments Total Employment Capital Investment Japan 204 56,045 $20,411,180,774 Germany 129 20,935 $6,831,684,868 United Kingdom 116 11,717 $1,685,625,773 Canada 80 8,672 $3,516,072,288 France 76 11,120 $939,179,797 Ireland 66 7,749 $136,181,108 Sweden 33 5,859 $1,111,686,500 Switzerland 41 5,223 $1,165,654,904 South Korea 22 5,789 $5,577,105,161 Italy 32 2,686 $1,009,158,611
We believe by relocating our headquarters to Nashville, Hankook Tire can benefit from the people, resources and infrastructures of Tennessee.
- Mr. Seung Hwa Suh, Hankook Tire Vice Chairman and CEO
WE’VE ENSURED THAT TENNESSEE
IS FIRMLY ENTRENCHED IN THE NEW GLOBAL ECONOMY.
Tennessee continues to proactively identify and recruit new foreign direct investment (FDI) to the state alongside efforts to increase Tennessee exports. Our state has offices courting foreign direct investment in Japan, South Korea, Ireland, Austria, Germany, Switzerland, Italy, and the United Kingdom. We work closely with our federal partners to promote exports.
International Quick Facts
$40.9+
Billion in capital invested in Tennessee by foreign-based establishments
#2
In the U.S. for FDI job creation
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