Right to Work Tennessee Sees Economic Growth

Here are some of the latest investments in Right to Work Tennessee. Two businesses are are expanding soon are VP Racing Fuels and Bioventus. Meanwhile, Capgemini and General Fusion are both adding new locations. These business investments will be good because they will put more money into the economy and provide new jobs. So this is exciting news!

Read on to find out more about each investment.

VP Racing Fuels:

VP Racing Fuels is investing $14.2 million in order to expand in Right to Work McKenzie, Tennessee. So this is good news!

“Since first establishing an operation in Tennessee in 2019, the business environment, the workforce, and the welcoming nature of the community have all been what we had hoped for. The state, county, and local leadership have all worked with VP to create a mutually beneficial relationship. Thus, our eagerness to expand in Carroll County.” […]

“We appreciate companies that choose to invest and create jobs in Tennessee’s at-risk or distressed counties, and VP Racing Fuels’ commitment to Carroll County will provide 150 new, family-wage job opportunities to citizens in Huntingdon and McKenzie. This expansion, which comes less than three years after the company located in Huntingdon, demonstrates that Tennessee’s skilled workforce and pro-business climate provide companies with the advantages they need to grow and succeed.”

AREA DEVELOPMENT MAGAZINE

Bioventus:

Bioventus is investing $9.1 million in order to expand in Right to Work Shelby County, Tennessee. This will also create 40 new jobs!

“In 2022, Bioventus will celebrate its 10th year in the Memphis area. We are pleased to be supporting this expansion with new jobs and additional investment in the community as we continue to grow serving clinicians and helping patients return to active lives worldwide.” […]  

“Each year, Tennessee’s medical device manufacturers export more than $4 billion in products, the second highest amount among states in the U.S. This expansion by Bioventus will contribute to one of our state’s strongest sectors. We appreciate the company for choosing to grow and further invest in West Tennessee.” […]

“TVA and MLGW congratulate Bioventus on its decision to expand operations in Shelby County. Helping to support companies, like Bioventus, create new jobs and invest in the region is fundamental to TVA’s mission of service. We are proud to partner with the Memphis Chamber, Memphis/Shelby County EDGE and Tennessee Department of Economic and Community Development to further that mission and celebrate this announcement together.”

AREA DEVELOPMENT MAGAZINE

Capgemini:

Capgemini is adding a new location soon in Right to Work Nashville, Tennessee. This will create between 500 and 1,000 new jobs!

“Over the past five years, companies have invested nearly $3 billion in Tennessee’s tech economy, and Capgemini’s investment will contribute to that growing figure. Capgemini could have chosen anywhere in the world for this project, and we are proud that another FDI company chose Tennessee. We look forward to partnering with Capgemini as the company expands its global operations in Davidson County.” 

AREA DEVELOPMENT MAGAZINE

General Fusion:

General Fusion Corporation is adding its first US location in Right to Work Oak Ridge, Tennessee with a $539,000 investment that will create 20 new jobs!

“Oak Ridge, Tennessee is the ideal location for our new U.S. headquarters. It will provide us with access to the state’s rich innovation ecosystem and the highly skilled workforce in the Oak Ridge region. Our new presence in Tennessee also gives us the platform to build stronger partnerships within the region and across the U.S., providing the more robust technical capabilities and competencies necessary for General Fusion to deliver clean fusion power by the 2030s.” […]

“General Fusion’s decision to invest and locate its first U.S. headquarters in Oak Ridge underscores our state’s pro-business environment, skilled workforce and exceptional quality of life. Tennessee is proud to be home to many world-renowned establishments, like Oak Ridge National Laboratory, that provide a clear advantage over our competitor states. We thank General Fusion for choosing to locate in Anderson County and look forward to seeing what will result from this project in East Tennessee.” 

AREA DEVELOPMENT MAGAZINE

To read the previous update on economic development in Right to Work Tennessee, click here.

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