Average FastTrack Grant per Job
The Tennessee Department of Economic and Community Development (TNECD) aims to support net new job creation and capital investment through its FastTrack grant programs. The FastTrack grant program is designed to help offset costs companies incur in job training (FastTrack Job Training Assistance Program, FJTAP), infrastructure development (FastTrack Infrastructure Development Program, FIDP), and a variety of other expenses associated with expansion and relocation activity (FastTrack Economic Development grants, ED). TNECD monitors the average FastTrack incentive per located job commitment. Below the data is segmented by year, urban or rural location, and county tier.
FastTrack grants are the primary grant type awarded to companies for job creation commitments. Capital grants have also been awarded for a few significant projects.*
*Since 2011, capital grants or other non-tax incentives have been allocated for 9 of TNECD’s project commitments. This funding was appropriated for LG Electronics, St. Jude Children’s Research Hospital, General Motors, Nissan, Volkswagen Group of the Americas, Beretta USA Corporation, Hankook Tire Co. Ltd., Nokian Tyres, and Eastman Chemical Company.
**TNECD considers 17 counties to be urban. At least 50% of the county population is in an urbanized area, as defined by the U.S. Census Bureau. According to the U.S. Census Bureau, urbanized areas comprise larger places and the densely settled areas around them. Urbanized areas have an urban nucleus of 50,000 or more people. In general, they must have a core with a population density of 1,000 persons per square mile and may contain adjoining territory with at least 500 persons per square mile. The following are considered urban counties in Tennessee: Anderson, Blount, Bradley, Carter, Davidson, Hamblen, Hamilton, Knox, Loudon, Madison, Montgomery, Rutherford, Shelby, Sullivan, Sumner, Washington, Williamson.
***This dashboard reflects FastTrack commitments to all projects, including grant commitments that do not yet have a grant contract in place. All projects with a FastTrack grant contract in place are included in the FastTrack Projects Database