U.S. Chamber of Commerce Report Praises Tennessee's Job Creation Strategies
U.S. Chamber of Commerce Report Praises Tennessee's Job Creation Strategies
Governor Phil Bredesen and Margaret Spellings, executive vice president of the National Chamber Foundation, at a business roundtable discussing job creation on July 19.
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A report commissioned by the U.S. Chamber of Commerce and the National Chamber Foundation on July 19 lauded Governor Phil Bredesen and Economic and Community Development Commissioner Matt Kisber's efforts to develop a business climate conducive to the creation of new jobs in Tennessee. The report, entitled "Enterprising States: Creating Jobs, Economic Development and Prosperity in Challenging Times" was highlighted during a roundtable involving Tennessee business leaders, Governor Bredesen, Commissioner Kisber and Margaret Spellings, executive vice president of the National Chamber Foundation.
Commissioner Matt Kisber at Monday's U.S. Chamber Roundtable.
 | The report specifically calls out strategies initiated by Governor Bredesen, like the Jobs Cabinet, as a unique approach to reducing bureaucracy and red tape for companies investing in Tennessee and spotlighted the Volunteer State as a success story in job creation, pointing to a one year period in which the state announced four $1 billion dollar projects creating 3,000 new jobs.
The comments came during a business roundtable hosted by Nissan North America at the company's headquarters in Franklin, Tennessee.
In addition, the National Chamber Foundation report praised Tennessee's use of targeted tax credits and identified the TNInvestco program as an "innovative approach" to developing venture capital to help grow Tennessee businesses. "The beauty of the TNInvestco program is that it provides tools for local funds to raise capital," said Mark Schill of the Praxis Strategy Group, the company which compiled the report. "It also allows those local funds to use their expertise to make investments in Tennessee companies and allows government to stay out of the way and lets the free enterprise system generate economic growth."
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