Knoxville-Oak Ridge Innovation Valley Expands Reputation as Corporate Headquarters Site

KNOXVILLE, Tenn., July 15 /PRNewswire-USNewswire/ -- The Knoxville-Oak Ridge Innovation Valley has solidified its standing as a growing hub of corporate headquarters with the announcement that Knoxville-based Pilot Travel Centers has received the go-ahead from the Federal Trade Commission to complete its $1.8 billion merger with one of its top competitors, Flying J Inc.

Operating under the name Pilot Flying J, the combined businesses will operate 550 interstate travel centers and plazas in 43 states and six Canadian provinces and have 20,000 employees, making it among the top 10 privately held companies in the U.S.  Some Flying J employees are expected to relocate to Knoxville.

The Innovation Valley got a further economic boost with the announcement that Cornell Dubilier Foil has purchased a 90,000-square-foot manufacturing facility formerly operated by Panasonic. The plant sits on 11 acres in Forks of the River Industrial Park near Knoxville.  Cornell Dubilier has hired about 30 former Panasonic foil plant employees.

Both the Pilot Flying J and Cornell Dubilier announcements come on the heels of a $30 million expansion at Scripps Networks' headquarters in West Knoxville.  Scripps President John Lansing said the investment solidifies his company's presence in Knoxville "for a long, long time into the future." Scripps operates HGTV, DIYNetwork, Food Network, Travel Channel, Great American Country and the company's newest offering, the Cooking Channel.

The Innovation Valley already hosts 90 corporate headquarters, both large and small.  Besides Pilot Flying J and Scripps Networks, that figure includes such high profile companies as the Tennessee Valley Authority, Clayton Homes, Jewelry Television, Ruby Tuesday, AC Entertainment, DeRoyal Industries, Pet Safe/Radio Systems Corporation, Regal Entertainment, Brunswick Boat Group, Bandit Lites, and Sea Ray Boats.

"Corporate headquarters do very well here," said Knoxville Chamber Executive Vice President Rhonda Rice.  "We see the relatively low cost of living, our educational and cultural amenities, and crossroads location as primary corporate recruiting tools for Knoxville-Oak Ridge Innovation Valley."

The Innovation Valley is also home to the flagship campus of the University of Tennessee system and to Oak Ridge National Laboratory (ORNL) – the Department of Energy's largest research campus.  A longstanding partnership between ORNL and UT has led to numerous cutting-edge projects in biofuels, solar research and advanced materials. The region's high tech infrastructure will expand with the opening Aug. 30 of Pellissippi Place, a 450-acre research and development site near the regional airport.

The Innovation Valley partners work together to leverage technological advances into prosperity. For more information, visit www.knoxvilleoakridge.com or contact Jesse Smith, director of technology, at [email protected] or at (865) 228-8794.

Media representation: Clark Miller Communications, (865) 414-1908.

SOURCE Knoxville-Oak Ridge Innovation Valley