Alternative Energy

In the expanding global economy, energy sources have become significant drivers.  Alternative and clean energy, in particular, have become integral parts of the mix for future power generation.

Knoxville has recently been named as the nation’s fastest growing area for jobs related to sustainability efforts like recycling, energy conservation and pollution control, according to the report “Sizing the Clean Economy: A National and Regional Green Jobs Assessment.”

Solar - Government incentives are encouraging solar energy to develop.  It is no longer a passing fad, and Tennessee is rapidly becoming known as an excellent location for companies in the solar industry.  Two new alternative energy manufacturers,  Hemlock Semiconductor, the world’s top polysilicon manufacturer, and Wacker Chemie, AG, the world’s second largest polysilicon manufacturer,  recently located here, already investing more than $3 billion dollars in the state.

Tennessee is rapidly becoming known as an excellent location for companies in the solar industry.  Initiatives include a $62.5 million investment in:

• The Tennessee Solar Institute, located at the University of Tennessee at Knoxville Cherokee Farm Innovation Campus and the Oak Ridge National Laboratory’s Joint Institute for Advanced Materials.  The Institute will leverage $31 million to focus on basic research for improving solar product affordability and efficiency.
• A 5 megawatt solar array farm as part of a comprehensive solar energy and economic development program. 
• The state also encourages clean energy job creation and investment through the establishment of green energy tax credits.

The East Tennessee region is simultaneously leveraging decades of expertise and technological strengths in energy to appeal to related businesses. Energy research is the focus of the Department of Energy’s Oak Ridge National Laboratory and the University of Tennessee, connected by the Knoxville – Oak Ridge Technology Corridor. 

The region’s research capabilities, trained workforce, excellent accessibility and competitive business climate provides the area with excellent potential for the solar industry.

Nuclear - There has been a renewed commitment to this sector of clean energy.  It is a good alternative to fossil fuel and is very efficient when compared to wind, solar, biofuel, etc. 

The Tennessee Valley Authority is committed to significantly expanding its nuclear presence by 2020, therefore placing our region in the center of the nuclear industry expansion.

Biofuels – Located in Knoxville, Genera Energy LLC was formed to implement the University of Tennessee’s (UT) Biofuels Initiative, a $70.5 million state investment in developing a cellulosic biofuels industry in Tennessee, with a farm-field-to-future-fuels approach. 

Genera leverages state and federal funding with private research and development investments and strategic partnerships that further the research, economic development, and clean energy objectives of Tennessee and the University.

Business Climate  
Pro-business environment - Favorable business tax climate consistently in the top 1/3 of U.S. states 

• Attractive state, local, and utility incentives for new job creation and capital investment
• State taxes ranking among the nation's lowest 
  • No state property tax 
  • Competitive corporate taxes 
  • Available targeted jobs tax credit
• Competitive gas, water, and sewer rates   
  • Electricity generated by the Tennessee Valley Authority at rates 19% below the U.S. industrial average 
  • Electricity reliability at 99.999% since 2000
  • Abundant water supply
  • Gas by East Tennessee Natural Gas
• Available Buildings and Sites
  • Building costs 19% below the national average (RSMeans Construction Index 2012) 
  • Competitive lease rates
• Right-to-work state
• State of Tennessee Green Energy Tax Credit expanded to include integrated customers and integrated suppliers
• Expanded Sales and Use Tax Credit for qualified headquarters & qualified facilities to support emerging industries
• Clean Energy Future Act with financial commitments to new solar energy and electric vehicle initiatives

Workforce

• Flexible, growing workforce of 570,000 in 15-county region
• Workforce of 780,000 in 32 laborshed counties
• Manufacturing workforce of 45,000 at costs 7% below the U.S. average 
• More than 5,000 engineers
• Customized workforce training
• Transferable skill sets
• Competitive workers compensation rates
• FastTrack Job Training Assistance Program with training to quickly provide skilled workers

Accessibility 

• Located at juncture of three major interstates: I-40, I-75, and I-81
• 70% of the US market within a day's drive
• Excellent access to existing network of raw materials suppliers
• Rail service by Norfolk Southern, CSX, and local short-line railroads
• Barge service on the Tennessee-Tombigbee Waterway System
• Regional airport offers more than 120 flights daily to 19 major U.S. destinations
• US Customs Port of Entry and Foreign Trade Zone designation
• Easy access to deepwater ports on the Atlantic and Gulf coasts

Technology

• Home of the Knoxville-Oak Ridge Technology Corridor
• Access to technology research at the Oak Ridge National Laboratory (ORNL), the world's premier laboratory in advanced materials
• 16 user facilities across multiple disciplines