How TVA’s Economic Incentives Work
TVA offers a range of economic incentives that set your business up for success from day one. Valley Incentive Programs consider both economic and power system metrics to create a profile of your company’s value to the region. Your company’s profile determines appropriate funding levels.
Investment Credit
The Investment Credit is jointly offered by TVA and participating local power companies. This performance-based program rewards companies for the economic and energy benefits associated with their new/expanded operations. Awards are applied as a credit to monthly power bills. Most companies can expect up to 10% annual savings over the award period.
Performance Grant
TVA is supporting new job growth by investing in competitive economic development projects. Paid directly to the company, Performance Grant amounts are flexible for approved purposes. Funding amounts are based upon the five-year economic impact of the project and are made at the discretion of TVA Economic Development.
Special Opportunities Grant
We’re investing in underserved areas with the Special Opportunities County (SOC) Performance Grant. By investing in competitive economic development projects, we’re standing by our mission and making life better for the people who live and work in the seven-state Valley region. This program assists smaller economic development projects in communities with greater economic needs. Funding amounts are based on the project’s five-year economic impact and are paid directly to the company.
Workforce+ Grant
Workforce+ is a Performance Grant option that allows TVA to make an investment in competitive economic development projects focused on building a highly skilled and qualified workforce. Award amounts are paid directly to the company and are contingent on companies meeting the minimum requirements of the Performance Grant Program. Funding amounts are based upon approval of the company’s talent pipeline development plan.
Incentives & Grants by State
In addition to TVA funding assistance, each state in the region offers tax credits, incentives, and grant programs for competitive projects spanning a variety of initiatives.
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We’ve helped thousands of companies find a home in our seven-state Valley region.
99.999% Reliability
TVA offers highly reliable power to its customers, despite record-setting weather.
Diverse Power Generation
Nearly 60% of the region’s power comes from carbon-free sources.
Competitive Electricity Rates
Our region’s industrial electric rates are among the lowest compared to peer utilities.
In the News
Eli Lilly Announces Plans to Establish Operations in Huntsville, Alabama
Eli Lilly, a leading pharmaceutical company, announced plans to establish operations in Huntsville, Alabama. Plans for the advanced manufacturing facility include creating 450 new quality jobs and investing $6 billion, which represents the largest initial investment in the state’s history. Economic development partners include Alabama Department of Commerce, Athens Utilities, Huntsville-Madison County Chamber of Commerce,…
Toyota to Expand its U.S. Manufacturing Presence in Jackson, Tennessee and Blue Springs, Mississippi
Toyota, a global automotive manufacturer, announced plans to expand its U.S. manufacturing presence, including two locations within TVA’s footprint. Toyota announced plans to invest $125 million in the company’s Blue Springs, Mississippi facility and $71.4 million along with 33 new jobs at its casting plant in Jackson, Tennessee. Economic development partners include Mississippi Development Authority,…
Hyosung HICO Announces Expansion in Memphis, Tennessee
Hyosung HICO, a global power transformer manufacturer, announced plans to expand operations in Memphis, Tennessee. Plans for the project include creating 240 new jobs and investing more than $150 million as the company constructs a new facility at its U.S. headquarters, marking the second expansion project at the facility in six months. Upon completion, the…