Tennessee Receives Silver Shovel Award By Area Development Magazine
State Recognized For Projects Creating High Value Jobs
NASHVILLE – Tennessee has dug its way into a new economic development ranking, this time receiving the Silver Shovel award in Area Development Magazine’s inaugural “Golden Shovel” awards, which recognize states that are successful in job creation and retention efforts.
The awards factored direct job creation numbers, new jobs per capita, amount of company investment; number of new facilities (either new to the state or at new locations within the state), and the number of projects creating high value-added jobs.
Economic and Community Development Commissioner Matthew Kisber said Tennessee’s new approach to working with new and existing industries, quality work force and strong partnerships at the state and local levels helped place the state as a leader in economic growth.
“This recognition is another example of good economic opportunities developing in our state through the cooperative hard work of state and local governments, and the positive business environment we are enjoying,” said Kisber. “Tennessee has seen significant economic growth this past year and I’m glad to see the business community taking notice.”
To determine the award recipients, the editors of Area Development magazine contacted each state and asked for verifiable information about the top 10 job creation and investment projects that were initiated in the state during 2005. Rather than acknowledge announced projects and potential jobs that are slated to occur, the magazine collected data only on those projects that began construction, expanded a facility or initiated new hiring.
“States that years ago only competed just with their neighbors are now competing with nations around the globe,” said Geraldine Gambale, editor of Area Development. “Fortunately, though, many companies are still opting to set up or expand operations at home — and the editors of Area Development magazine wanted to acknowledge those states that have been among the most successful in securing these investments and to recognize their successes by establishing the annual Gold Shovel award.”
Alabama was selected as the recipient of the 2006 Gold Shovel award. In each category, Area Development chose the states with the top three weighted scores in population categories to receive its runner-up Silver Shovel awards. Tennessee joined the states of Arizona and Virginia in the 3 to 10 million population category.
Founded in 1965, Area Development magazine is the leading executive magazine covering corporate site selection and relocation. For more information, visit www.areadevelopment.com.
