Tags: US State Facts | industries in tennessee | economy

Top 5 Industries in Tennessee: Which Parts of the Economy Are Strongest?

By    |   Thursday, 09 Apr 2015 04:08 PM

With several major car manufacturers utilizing land in Tennessee for their operations, it's no surprise that it's one of the top industries in the state.

It was named economic development "State of the Year" in 2014 for the second year in a row and "the first state in the award's history to win back-to-back honors for economic development efforts and the first state to win the designation three times, winning in 2014, 2013 and 2009," according to the official site of the Tennessee government.

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Here are the top five industries in Tennessee:

1. Automotive Manufacturing

One estimate credits automotive manufacturing for over 105,000 jobs for Tennesseans, in part because both GM and Nissan have manufacturing facilities in the Volunteer State. In this category, Tennessee has been dubbed No. 1 for several years among all 50 states in America. Also, Business Climate surmises that "automotive-related production accounts for one in three Tennessee manufacturing jobs."

2. Energy

Tennessee's energy sector is fueled by five sources: nuclear power, clean air, renewable energy sources, energy efficiency and the green industry. For example, there are "142 solar companies at work throughout the value chain in Tennessee, employing 2,800 people," according to Solar Industries Association.

3. Film Production

Tennessee's natural beauty combined with its rich musical roots and substantial education pipeline make its film industry a thriving economic factor. According to the Tennessee Film, Entertainment and Music Commission, "There are 73 different production-specific programs offered at 35 institutions across the state. Our graduate numbers are growing every year, with 1,144 film graduates in 2012 alone."

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4. Health Care

With one of the largest employers in the state being Vanderbilt University Medical Center, a thriving healthcare sector is a given for Tennessee. In Nashville alone, where Vanderbilt UMC is located, the "health care industry contributes nearly $30 billion and 210,000 jobs to the local economy according to an economic impact study released by the Nashville Health Care Council," in accordance with Accounts Receivable Solution.

5. Manufacturing

Companies such as Whirlpool, Electrolux, Eastman Chemical, Delta Faucet and more help make manufacturing one of the top industries in Tennessee. Together, these and other manufacturers provide over 316,000 jobs with nearly 200,000 of those in durable goods.

According to Business Climate, "With its location advantages, low business costs and workforce development programs, the state has created an ideal climate for advanced manufacturing location and expansion."

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With several major car manufacturers utilizing land in Tennessee for their operations, it's no surprise that it's one of the top industries in the state.
industries in tennessee, economy
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2015-08-09
Thursday, 09 Apr 2015 04:08 PM
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