Tennessee advanced energy sector has emerged as a powerful economic force, generating over 400,000 jobs and contributing $56 billion to the state’s GDP in 2022. This analysis examines the industry’s remarkable growth and its impact on Tennessee’s economy.
Industry Overview
Key Statistics
- Employment: 420,632 jobs
- Business count: 22,500+
- GDP contribution: $56 billion
- Average salary: $74,000
- Growth rate: 6.8% since 2019
Sector Definition
- Core Technologies
- Renewable energy
- Nuclear power
- Natural gas generation
- Smart grid systems
- Electric vehicles
- Advanced manufacturing
- Supporting Services
- Distribution systems
- Infrastructure development
- Technical services
- Research facilities
Economic Impact
Financial Metrics
- Revenue Generation
- $31.1 billion annual payroll
- $1.5 billion state sales tax
- $461.6 million local tax
- 11.5% of state GDP
- Growth Indicators
- 6.8% employment growth
- 10.9% business establishment growth
- 31% above-average wages
- Sustained expansion
Regional Development
East Tennessee Focus
- Oak Ridge Initiatives
- Uranium enrichment facility
- 300+ new jobs
- $60 million investment
- Manufacturing revival
- Local Projects
- Bull Run fusion energy
- Maryville solar plants
- Educational programs
- Research facilities
Industry Leadership
Strategic Position
- Regional Dominance
- Southeast innovation leader
- Manufacturing excellence
- Research institutions
- Technology advancement
- Key Sectors
- Electric vehicles
- Battery technology
- Nuclear innovation
- Renewable energy
Future Outlook
Growth Potential
- Industry Expansion
- Continued job creation
- Technology development
- Infrastructure growth
- Investment attraction
- Economic Opportunities
- Workforce development
- Innovation partnerships
- Market expansion
- Research advancement
Expert Perspective
Cortney Piper, TAEBC Executive Director: “Tennessee’s leaders and our world-class research institutions and manufacturing facilities have positioned us to become the number one location in the Southeast for energy innovation and high-quality jobs.”
Tennessee’s advanced energy sector represents a dynamic engine of economic growth, combining technological innovation with job creation and substantial economic benefits. The industry’s continued expansion signals a bright future for the state’s energy economy.
