Posted on: Saturday - Nov 17, 2018
For Tennessee, the past week was unprecedented.
On Tuesday, Amazon announced plans to establish a new 5,000-job corporate operations center in Nashville. The new office promises to fuel Middle Tennessee’s already frantic growth to a new level, elevating Nashville’s status as a hub for global businesses.
With Amazon, Nashville landed what is, from a jobs standpoint, the largest economic development project in Tennessee’s history. But while Amazon grabbed national headlines, Governor Bill Haslam and TNECD also announced another 780 jobs in Middle Tennessee this week.
In total, Nashville welcomed nearly 5,800 new job commitments and more than $254 million in private capital investment this week. Here’s a quick look at last week.
Amazon Promises $750M Annual Income Jolt to State
More than 230 cities submitted bids when Amazon’s HQ2 search began last year.
And while Nashville was one of 20 finalists shortlisted for HQ2, most of Tennessee woke up Tuesday morning to news reports that Amazon had decided to split its HQ2 between two locations: one in New York City and another in Northern Virginia.
Little did they know, Amazon executives had already informed TNECD on Monday that retail tech giant had selected Nashville as the home of a new 5,000-job operations hub – which will house the tech and management functions for Amazon’s fulfillment, supply chain and logistics.
What does Amazon’s new office mean for Middle Tennessee?
“This a game changer for Tennessee,” Gov. Haslam said. “The ripple effect of Amazon’s decision to invest $230 million in our state and create 5,000 high-paying jobs in downtown Nashville will be felt for years to come.”
At 5,000 jobs, Amazon’s new office project is the largest single jobs announcements in Tennessee history, even surpassing the largest automotive victories for Tennessee over the past four decades. TNECD anticipates that Amazon’s new office will generate more than 8,000 indirect and induced jobs.
Amazon plans to create these jobs over a seven-year period. Once fully operational at 5,000 jobs, Amazon will boast a payroll in Davidson County of more than $750 million, with average annual salaries of more than $150,000, or three times Tennessee’s median household income.
“This is the most significant economic development announcement for Governor Haslam,” TNECD Commissioner Bob Rolfe said. “This is a blue ribbon for our city and our state. When you look at the quality of the jobs, these are jobs of the future. This is the opportunity for Tennessee to raise our game when it comes to IT-related jobs, especially with a global brand like Amazon.”
That’s Tennessee’s view of Amazon. Here’s what Amazon said about Nashville:
“Nashville just really impressed us in the HQ2 process,” Amazon Senior Vice President Jay Carney told news outlets. “It’s a city pointing toward the future. It made itself very appealing for investment. It's a place where, if people don’t already live there, they are excited about moving there.”