Business Expansion Incentives
Tennessee has one of the most business-friendly economic climates in the nation. Businesses expanding in Hamilton County and the City of Chattanooga may take advantage of numerous incentives. Let our team of professionals customize an incentive package for your expansion.
Foreign Trade Zone (FTZ) 134
Companies located within a foreign trade zone can eliminate, reduce or defer customs duties on imported products that are used in manufacturing or held in a warehouse for later distribution. The existing business development team manages FTZ 134, which includes all of Hamilton County as well as ten other Southeast Tennessee counties.
“Chattanooga creates an environment where companies of all sizes can thrive and prosper. It is a business-friendly city that combines technological advancement, an educated workforce and a quality of life that makes it an excellent location for Unum.”
– Richard P. (Rick) McKenney
President and CEO, Unum
“Over more than a decade of manufacturing, Chattanooga, Tennessee has become a focal point for Gestamp in North America. We proudly keep supplying the ambitious Volkswagen projects in America from Chattanooga, thanks to our customer trust and the unwavering support of the state and local governmental officials, along with the strategic partnership with business organizations in the area, and the good people of Chattanooga, who make up most of our local great team and talent.”
– Francisco J. Riberas
President & CEO, Gestamp
While our existing business team is more likely to help companies with expansions, growth opportunities and workforce development partnerships, we have also helped on a number of other items ranging from permitting to river lock closures. Here are just two examples of ways our team has contributed to a business-friendly environment:
European Spruce Bark Beetles
The leadership of a major manufacturing company contacted us when a shipment of critical equipment in transit to their Chattanooga plant was delayed at the Port of Savannah due to an infestation of European Spruce Bark Beetles. USDA and customs authorities required the shipment be sent back to Europe for repackaging, which would have delayed the startup of the plant by several months. Instead, our team worked with our U.S. Senator’s office and customs officials in Savannah, resolving the issue in just a few days, rather than months.
Local Permitting Support
To facilitate an expansion of an existing company’s laboratory, office and manufacturing facility, our team helped engage the local department of transportation and fire department officials to work through an ingress/egress issue. We worked with the city’s economic development office, department of transportation and fire marshal to expedite a decision by all permitting authorities that allowed the company to move forward with their expansion plans.