Innovation Valley Advantages

Innovation Valley Advantages

Innovation Valley Advantages: the Knoxville Oak Ridge technology corridor has often been referred to as "America's productivity center" due to the fact that local companies can draw employees from a wide geographical area and the quality of that workforce is exceptionally skilled and advanced with a powerful and reliable work ethic.

Some of the major advantages that the The Knoxville Oak Ridge Innovation Valley has over other parts of the country include lower absenteeism rates, greater individual productivity and company loyalty.

Given the local presence of the nationally leading University of Tennessee and various other high ranked educational institutions, the area has access to academic resources of extremely elevated caliber as well as comprehensive technological training programs and other facilities.

The Knoxville Oak Ridge Innovation Valley benefits from low transportation costs to most of the Eastern United States due to its centralized location at the heart of the region.

The cost of doing business and the general cost of living in East Tennessee is well below the national average, which is also a major Innovation Valley advantage in drawing companies to the region.

The area prides itself on providing a very pro-business environment to encourage start-ups and to keep established companies in the region.

Innovation Valley Incentives

The Knoxville Oak Ridge Innovation Valley offers a very attractive group of state, local and utility incentive programs to assist growing companies. These programs include lower rate incentives on:

Corporate Excise Tax

Franchise Tax

Personal Income Tax

Property Tax

Sales and Use Tax

Unemployment Compensation Tax

Other Tax Credits

Industrial Infrastructure Program

Industrial Training

Local Incentives

TVA Enhanced Growth Credit Program

TVA Variable Pricing Interruptible Power