2008 TEDC Legislative Agenda

Fully fund the request by ECD to ensure continuation of Fast Track infrastructure funds and training dollars.  These dollars are a critical component of many economic development recruitment and expansion projects throughout Tennessee.

Workforce development and preparedness has become increasingly important in an ever-competitive economic development climate.   As companies look closer at existing workforces in a given locale as part of their site selection process, it is critical to understand an area’s workforce strengths and weaknesses.  TEDC encourages the legislature to support the Department of Labor’s efforts of statewide implementation of the Work Keys program through local technology and career centers.

Worker’s Compensation law in the State has been significantly improved which has allowed Tennessee to both retain and create new jobs while protecting the rights of workers and companies.   The Council urges Legislators to retain the accomplishments of past worker’s comp legislation.  

Having a strong statewide broadbandinformation technology infrastructure is critical  to enable increased productivity and strengthening opportunities for new high technology job growth and investment in both urban and rural areas of Tennessee. TEDC encourages the legislature to support expansion of Tennessee’s technology infrastructure networks.    

Expand the jobs tax credit program to allow more companies to qualify. The twelve month fiscal year requirement to reach the minimum threshold for jobs tax credit needs further consideration, especially in the rural areas as defined by Tier 1, Tier 2 and Tier 3 counties.  Also, High Technology companies historically require lower employment numbers.  Lowering the 25 job threshold for this industry sector needs to be considered.  

Support the $1.3 Million dollar improvement for the Rural Opportunity Initiative Loan Fund- A program that was begun in 2007 by the Bredesen administration that encourages business growth in rural counties for people that normally would not have access to capital.