Eighteen foreign firms from 12 countries opened or expanded facilities in TN in 2018 creating 3,000 new jobs. They spent (foreign direct investment) $1.5 billion, a decrease of $0.6 billion (-$600 million) from 2017. The decrease is largely attributable to a collapse of Chinese investment.
Single largest investment: Volkswagen's $340 million to launch its new five-seat Atlas SUV
Second: $301 million expansion of Nidec’s electric motor plant in Lexington.
By employment, the most significant investment was in Morristown, by Van Hool (Belgium). Will employ 640 workers.
Eight of the new investments are related to auto manufacturing representing almost two-thirds of the dollar value in 2018.
Japan was the dominant country – five investments and a total of $632 million
Investment from Canada was unusually low.
Data from BERC MTSU