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International Business
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 $37.3 billion in capital and employ more than 151,000 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, China, Netherlands, Germany, Italy, and the United Kingdom. We work closely with our federal partners to promote exports, which totaled more than $33.2 billion in 2017. This investment demonstrates Tennessee’s commitment to competing globally for business and jobs, which is not something that most states can claim.
In 2017, the Tennessee Department of Economic and Community Development received 39 project commitments from foreign-owned businesses, resulting in 6,966 job commitments and $2.52 billion in capital investment. This FDI accounted for nearly one-third of all Tennessee’s new jobs committed in 2017 and 56.0 percent of all capital investment committed in the state. These major foreign projects included Japanese-owned Denso Manufacturing (1,000 new jobs, $1 billion in capital investment), Netherlands-owned Philips Electronics (815 new jobs, $17.0 million in capital investment), Korean-owned LG Electronics (600 new jobs, $250.6 million in capital investment), and Finland-owned Nokian Tyres (400 new jobs, $360 million 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 on wages. 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
151K+
Tennesseans employed by foreign-based establishments
$37+
Billion in capital invested in Tennessee by foreign-based establishments
#1
In the U.S. for FDI job creation (2013 and 2015)
LG
Volkswagen
Beretta
Wonder Porcelain
Bridgestone
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Top Exported Products
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Commodity NAICS 2011 2012 2013 2014 2015 2016 2017 Total Exports $30,016,116,443 $31,142,980,349 $32,473,718,590 $33,250,895,441 $32,587,843,773 $31,432,681,338 $33,200,072,942 Medical Equipment & Supplies 3391 $3,046,307,650 $3,202,360,376 $3,602,531,490 $3,406,152,442 $3,337,862,837 $3,325,488,281 $3,435,624,830 Motor Vehicles 3361 $1,247,172,225 $1,581,324,590 $2,252,857,725 $2,796,122,989 $2,708,558,521 $2,665,768,619 $2,899,817,363 Motor Vehicle Parts 3363 $2,790,067,404 $2,741,871,083 $2,862,640,312 $3,111,605,611 $3,130,481,822 $2,970,326,434 $2,708,489,868 Basic Chemicals 3251 $2,136,570,345 $2,151,077,190 $2,146,216,533 $2,151,795,386 $1,869,510,760 $1,784,795,632 $1,946,995,321 Navigational, Measuring, Electromedical and Control Instruments 3345 $1,333,403,162 $1,548,601,541 $1,556,372,744 $1,592,911,389 $1,803,613,821 $1,863,399,199 $1,941,986,892 Computer Equipment 3341 $2,061,060,110 $2,202,283,964 $2,146,811,789 $2,311,140,586 $2,205,945,039 $1,821,553,687 $1,894,911,266 Aerospace Products & Parts 3364 $1,222,639,771 $1,232,159,056 $1,264,839,747 $1,290,032,883 $1,358,817,853 $1,206,556,831 $1,588,803,052 Resin, Synthetic Rubber, Artificial & Synthetic Fibers/Filaments 3252 $1,683,896,286 $1,718,124,809 $1,839,048,397 $1,858,532,383 $1,726,286,803 $1,499,958,213 $1,481,213,627 Communications Equipment 3342 $522,601,111 $618,748,554 $650,634,142 $730,882,657 $713,978,338 $895,745,073 $952,236,366 Engines, Turbine and Power Transmission Equipment 3336 $945,138,883 $893,918,366 $825,702,544 $881,463,724 $980,953,368 $964,871,431 $867,202,544 -
Top Ten Countries for Tennessee FDI
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Foreign Country # of Establishments Total Employment Capital Investment Japan 190 52,058 $19,168,633,140 Germany 115 16,966 $5,480,305,624 Canada 72 8,953 $2,464,603,543 United Kingdom 118 11,960 $1,611,844,844 Switzerland 46 5,054 $1,115,137,279 Sweden 36 7,571 $1,096,186,500 Korea 11 3,373 $998,177,000 Italy 38 5,206 $854,825,889 France 76 9,397 $682,879,797 China 18 1,870 $467,048,736 Total 967 147,240 $37,262,206,331
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, China, Netherlands, Germany, Italy, and the United Kingdom. We work closely with our federal partners to promote exports.
International Quick Facts
$37+
Billion in capital invested in Tennessee by foreign-based establishments
#1
In the U.S. for FDI job creation
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