Foreign firms creating more new jobs in Tennessee than domestic companies

Jun 3, 2015

MURFREESBORO, Tenn. (WMOT)  --  Tennessee attracted more foreign investment than any state in the union in 2013, and a new report suggests 2014 saw even more investment by overseas firms.

The Business and Economic Research Center at Middle Tennessee State University says foreign firms brought more than 6,300 new jobs to the state last year, up from about 4,600 new positions in 2013.

MTSU economist Steven Livingston says it’s Tennessee’s location at the population center of the nation, and its low-tax structure, that’s attracting foreign investment.

“In a relatively slow economy that you’re able to attract these jobs into the state…the amount of jobs created by foreign owned firms is rising faster than the amount of jobs created by domestic firms.”

Livingston says German owned Volkswagen’s announcement that it would bring 2,000 new jobs to Chattanooga, and invest $600 million to expand auto production there, toped the list of new foreign investment in Tennessee last year.