TVA Among Top Utilities for Economic Development for Sixth Straight Year

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Sep 01, 2011, 05:47 ET

KNOXVILLE, Tenn., Sept. 1, 2011 /PRNewswire-USNewswire/ --The Tennessee Valley Authority has been named for the sixth straight year among Site Selection magazine's top 10 North American utilities for achievement in economic development.

(Logo: http://photos.prnewswire.com/prnh/20100304/TVALOGO)

The publication recognizes TVA's fiscal year 2010 work with power distributors, and regional, state and local partners to help attract or retain more than 41,000 jobs and leverage $4.3 billion in capital investment for the seven-state TVA service territory.

John Bradley, TVA senior vice president of Economic Development, said TVA's economic development's support has contributed to 264,500 new or retained jobs and $27 billion in business investment in the region since 2005.

"Innovation, tenacity and teamwork are powerful keys to economic development success in our region," Bradley said. "Distributors of TVA power, regional and state agencies, and economic, industrial and community leaders from throughout the TVA service region are all participants in this success. And the ultimate winners are Valley communities that have more opportunities to gain and retain jobs."

Notable projects announced in 2010 include major Amazon distribution centers in Chattanooga and Bradley County, Tenn.; a new plant in Fort Payne, Ala., for Canadian automotive manufacturer A.P. Plasman; and expansion in Glasgow, Ky., by generic drug manufacturer Amneal Pharmaceuticals.

TVA, in 2010, also expanded its successful Valley Investment Initiative program, which rewards qualifying power customers that make ongoing investments in the region.

TVA also surveyed more than 50 sites last year under its data center development program. The initiative has certified 18 sites as top locations for data centers to house computers, telecommunications, and other systems used by high-tech industries.

Learn more about these and other TVA economic development programs and services at http://www.tvaed.com/. A map of the 18 data center sites ready for development is available at http://www.tvaed.com/datacenters/.

The Site Selection rankings are based on a number of factors, including project activity, input from corporate end users and site consultants, website tools and data, and innovative programs and incentives for business.

"The most powerful utility economic development teams are backed by corporations that don't just move power around — they wield it," said Adam Bruns, managing editor of Site Selection. "They do that through innovative programs for business, collaboration with community partners and their own investment in generation, transmission and other assets."

Site Selection magazine, published by Conway Data Inc., delivers expansion planning information to 44,000 executives of fast-growing firms. The full Top Utilities article appears at www.siteselection.com.

The Tennessee Valley Authority, a corporation owned by the U.S. government, provides electricity for 9 million people in parts of seven southeastern states at prices below the national average. TVA, which receives no taxpayer money and makes no profits, also provides flood control, navigation and land management for the Tennessee River system and assists utilities and state and local governments with economic development.

SOURCE Tennessee Valley Authority