Tennessee Economic Development Commissioner Bill Hagerty took the stage at the Southland Conference in Nashville on Wednesday morning to introduce the conference and highlight why Tennessee is great for startups.
Since the current administration took over two and a half years ago, Tennessee has become number one in the southeast and number four in the nation for manufacturing job growth. Tennessee is also number one in the southeast for personal income growth.
But one thing that we found interesting is that Tennessee has the best balance sheet in the country.
“I think everybody knows that the nation has experienced a serious fiscal crisis and if you start looking across the states you’ll see a very wide divergence in terms of the fiscal situation that each state faces. What that does is present a different risk profile for the companies that choose to locate in those states. Tennessee has the lowest debt per capita in America.”
This is important because Tennessee hasn’t put itself in a position where they haven’t raised the debt ceiling to a point where it can’t be manageable.
All of this means that Tennessee is a great place to grow jobs, personal wealth and families. Hagerty went on to discuss the regions history of entrepreneurship including companies like FedEx that call Tennessee home.
Finally, Hagerty pointed out one of the biggest claims to fame for Tennessee in regards to startups. Since the Haslam administration took over Tennessee has become home to nine startup accelerator regions all administered by Launch Tennessee. Each startup accelerator region has an incubator or accelerator program.
While many don’t think of Tennessee in terms of entrepreneurship these highlights along with the infrastructure in place already for business owners, job creators, startups and entrepreneurs, it’ s no wonder that Tennessee is first for startups in the South East.
Check out this video of Hagerty’s speech at Southland.