On a recent business development trip to Taiwan, I found that my conversations with government officials and prospective companies centered around two of the most pressing issues impacting the global economy today:
- the rapid rise of artificial intelligence (AI) and
- the immense power needed to support its growth.
Taiwan is a key trading partner and ally in the Pacific that plays an essential role in our nation’s global security.
While the goal of this trip was in part to strengthen our ties, it also allowed me to witness firsthand the emphasis the country has placed on research and development (R&D) and the vital role it plays in driving innovation and economic expansion.
Hsinchu Science Park is a model for successful R&D collaboration
During our time, I had the opportunity to tour Hsinchu Science Park, Taiwan’s premier technology hub that now houses over 600 companies and 170,000 employees across industries like semiconductors, biotechnology, telecommunications and robotics.
The park is surrounded by two of the nation’s top universities and the country’s leading research institute.
These institutions understand the importance of technology commercialization, and today, about 50 of the companies operating within the park are spinoffs from R&D efforts led by these entities.
The park is a model of what happens when academia, industry and R&D work in lockstep to drive technological breakthroughs.
In my opinion, Hsinchu is ground zero for true innovation.
Could Tennessee open its own science park?
Tennessee is home to world-class companies across many key industries, with innovative brands like Oracle, AllianceBernstein, LG Chem, Medtronic and Bell Helicopter that have invested in the state over the years and uniquely positioned our department to be the key link for collaboration between these industry leaders and our R&D institutions.
We have the pieces in place to create a model that mirrors the success of Hsinchu Science Park; however, one of the most critical components of this vision is energy. As the demand for large-scale, reliable power grows to support AI, advanced manufacturing and next-generation industries, we must leverage our strengths to think outside the box.
This is why Gov. Bill Lee’s leadership in prioritizing nuclear energy investment is so important.
Just a few weeks ago, U.S. Secretary of Energy Chris Wright visited Oak Ridge and remarked that we are “embarking on Manhattan Project II” due to AI’s role in the new industrial revolution.
His call to “unleash American energy, innovation, investment and entrepreneurship” makes one thing clear – Tennessee is primed to lead the charge.
TNECD Commissioner Stuart C. McWhorter joined Senator Bill Hagerty and Congressman Chuck Fleischmann in welcoming U.S. Dept. of Energy Secretary Chris Wright to Oak Ridge in February 2025.
TVA is America’s energy innovation lab
To position the state as a leader in low-cost, reliable energy, it is imperative that we work closely with our partners at the Tennessee Valley Authority (TVA). As the nation’s largest publicly owned power company,
TVA’s ability to collaborate with the new Trump administration, which has shown strong support for nuclear energy, energy independence and technological advancements, will be key to pushing the boundaries of energy innovation.
TVA has a distinct opportunity to become the testbed for cutting-edge energy solutions, and we cannot drive innovation without their support.
The organization should serve as the epicenter for next-generation energy, leading efforts to reduce regulatory barriers, streamline certification processes and accelerate the deployment of advanced nuclear technologies. Additionally, TVA’s bold investments in natural gas will serve as a critical bridge, ensuring energy reliability as we scale up nuclear capacity.
If TVA fully embraces its potential, perhaps it could be rebranded the “Terawatt Valley Authority” − a symbol of its role in America’s energy transformation.
Here’s how Tennessee creates a path forward
Tennessee is at an inflection point as the future of economic development will be shaped by how effectively we strengthen our R&D ecosystem and cement our position as a leader in energy innovation. The states that prioritize these areas will be the ones that attract companies, entrepreneurs, families and innovators in the years ahead.
Thanks to decades of business-minded leaders like Gov. Lee, we have successfully recruited top-tier jobs and nurtured thriving companies in our own backyard; however, we cannot rest on our laurels.
Our path forward requires bold leadership, strategic collaboration and a steadfast commitment to innovation, and we already have key individuals ready to form a strategic R&D coalition. Tennessee is well-positioned to lead the next industrial revolution, and we are capitalizing on this opportunity to propel our state into the future.
Stuart C. McWhorter has served as the Tennessee Department of Economic and Community Development (TNECD) commissioner since July 2022.
