"October 20, 2021 will be a day that will be remembered for many years to come. The $5.6 billion investment in the West TN Megasite was made possible by the leadership and stewardship of administrations over the past 14 years. This includes the administrations of Governor Bredesen, Governor Haslam and Governor Lee as well as Lt. Gov. McNally, Speaker Sexton and the many legislators that preceded my time in Nashville. I’m an East Tennessean, but I am so excited for our friends in West TN and what this will mean for not only them, but for our entire state. This will bring great opportunities to an area that will benefit greatly from this partnership. I can’t wait to be able to visit the “Blue Oval City” when it’s completed. That should happen sometime within the next 24-36 months. Congratulations again to all my West TN colleagues and to the Lee Administration for getting this across the finish line." - Representative Mannis
General Assembly passes two bills giving final approval for the Megasite investment and development
Megasite Development:
House Bill 8001 creates the Megasite Authority ofWest Tennessee to provide services necessary for operation and development ofthe Megasite. Key highlights of the Authority include:
· Purpose of the Authority is to develop, operate,manage, incentivize and promote the Megasite
· Authority actions like entering leases, capitalgrants and accountability agreements will be subject to approval by the StateBuilding Commission, providing opportunities for public engagement
· The Authority will be governed by an 11-memberboard of directors, which includes two gubernatorial appointments. The governorwill sit on the board as an ex-officio member.
Investing in Infrastructure and Workforce:
House Bill 8002 approves appropriations to incentivize and complete the Megasite. Additional funding will provide for infrastructure and improvements to support regional growth including:
· $500 million capital grant (ECD)
· State to build, own and operate $40 million TCAT to strengthen Tennessee’s workforce (TBR)
· State to build, own and operate water and wastewater systems to serve the Megasite (DGS)
· State to build second interchange on I-40 to improve traffic flow and support population growth (TDOT)
FordMotor Company in Tennessee:
Ford MotorCompany has already established a presence in Tennessee. Currently, FordCredit’s Nashville Business Center employs nearly 800 people. Ford alsooperates a parts, supply and logistics distribution center in Memphis thatemploys about 150 people. The company has 65 dealerships with 3,600 employeesthroughout the state.
TheMegasite is expected to generate 27,000 new jobs to support operations,including direct, indirect and induced new jobs. This will result in $1.02billion in annual earnings
· The site will contribute $3.5 billion each year to Tennessee’s gross state product.
· Provide $22.4 million each year in state tax revenue.
If you have any questions, comments, or concerns do not hesitate to contact me or my office!
