Tennessee Governor Bill Lee and Department of Economic and Community Development (TNECD) Commissioner Stuart McWhorter are setting their sights on France, aiming to attend the upcoming 55th International Paris Air Show.
The trip is Lee's second to France, as the duo engage in a series of high-level meetings with potential investors to spur on the economic growth for Tennessee, with the hope of drawing new jobs and investments; during their last venture, they nailed down commitments that brought in 1,200 jobs and an infusion of nearly $270 million to the state economy, according to a press release.
"Tennessee consistently ranks as a top state for business thanks to our strong economy, low taxes, and talented workforce, but companies consider more than these factors when choosing where to invest," Gov. Lee stated, highlighting the state’s commitment to fostering enduring global partnerships. TNECD, with its international recruitment edge backed by representatives across Europe and Asia, heavily leans on the influence of localized engagements to cement these bonds.
More than a quarter of Tennessee's new job commitments spring from foreign investment, a percentage that the Lee administration seeks to grow; they strategize to connect with companies like Schneider Electric and Howmet Aerospace that have shown to fuel the state’s economic engine and have become cornerstones in the aerospace sector that saw investments of over $575 million and 2,900 new jobs blossom during Gov. Lee's tenure.
The Paris Air Show, a premier aerospace event attracting thousands, is anticipated to be a deal hub as it has been in previous years, with 2023's event accumulating contracts worth $150 billion, the planned trip includes not just high-energy networking but also tailored meets with executives of French multinationals like Schneider Electric and Orano, both of which operate within Tennessee's borders.
Orano’s interest in Tennessee surged with the announcement of a multi-billion-dollar uranium enrichment facility in Oak Ridge. "By visiting this commercial enrichment center, Tennessee leadership will see the same technology and processes planned for the Oak Ridge site," Jean-Luc Palayer, CEO of Orano USA, explained the state's role in nurturing a symbiotic ecosystem favorable for the nuclear industry. This ambitious project is foreseen to generate substantial economic ripples and a stable fuel source for U.S. reactors.
Tennessee, now a host to over 70 French companies offering employment to more than 12,000 locals, has experienced a flurry of French-initiated projects under Gov. Lee's watch. These endeavors have laid out nearly 2,826 jobs and precipitated close to $4.9 billion in capital investment.
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