Aseventh-generation Tennessean, Governor Bill Lee doesn’t just lead Tennessee; he eats, sleeps and breathes it. Raised in Williamson County, where he still lives, he’s done just about everything a person can do in the Volunteer State.
He’s worked a family farm. He’s run the Lee Company, a mechanical construction services company, where he became president in 1992.
Through it all, he manifested everything he learned from his parents, grandparents and other mentors in his life: Tennesseans work hard, they’re industrious and creative, they overcome adversity, they believe strongly in both teamwork and self-reliance and they champion personal responsibility and accountability.
Lee brought those values to Nashville when he became governor in 2019, and he’s never looked back. From day one, he’s remained steadfast and adhered to his core priorities:
- Build a strong workforce
- Invest in quality education
- Support economic development
- Shore up public safety
- Accelerate the transformation of rural Tennessee
- Support families
Today, Tennessee is booming. Lee’s state boasts one of the fastest-growing economies in America, one of the lowest tax burdens in the nation and one of the highest-rated business climates. His workforce and economic development strategy has attracted nearly 115,000 new job commitments and over $55 billion in capital investment during his tenure.
“We believe that businesses are our friend. They create opportunities for Tennesseans. We believe we are the best place in America for businesses to invest.”
— Bill Lee, Governor of Tennessee
Ford Motor Company, SK On Tennessee, In-N-Out Burger, LG Chem, Oracle, General Motors, Korea Zinc and Starbucks are just a few of the many companies that rewarded this strategy with major capital investments and large facility expansion projects.
To ensure that this success is sustainable for the long term, Lee worked to pass the largest tax cut in state history, strengthen career and technical training, expand school choice, prioritize a record $1 billion investment in public education and pass the largest teacher pay raise in state history.
In the following interview, Lee expounds on his governing philosophy and outlines how Tennessee is set up to thrive for years to come.
By multiple metrics, Tennessee performs at an elite level in economic development. Chief Executive magazine ranked your state the No. 3 Best State for Business, and Site Selection magazine’s Executive Survey ranked Tennessee the No. 6 Best Business Climate. What factors are most responsible for this success?
LEE: We are excited about these rankings, and we understand why we rank so highly. Government can be either a friend or a foe to business. Governments can either create an environment where businesses thrive or produce one where it can be hostile. We have seen companies relocate to Tennessee because of our environment. We believe that businesses are our friend. They create opportunities for Tennesseans. We believe we are the best place in America for businesses to invest.
How has your administration worked to elevate the business climate? What are some of your administration’s most significant contributions to improving the business environment?
LEE: Our state has long had a belief that fiscal stewardship and a limited regulatory environment are the way for businesses and their people to thrive. We have one of the lowest state debts per capita in the country. We have a very strong balance sheet. In the last several years, I have learned that you must not only have a good tax structure; you must also have the workers. When companies are looking for where to invest, the state that has the workers is going to win out every time. I came from the private sector where I ran a business with skilled trades people. We could not find enough of them. We had lost focus a bit on how to create all kinds of workers. We need plumbers and doctors and teachers. So, we passed the Governor’s Investment in Vocational Technical Education (GIVE) Act, a $1 billion investment in trade schools and technical colleges statewide to fill the jobs of the future.
Tennessee Governor Bill Lee and First Lady Maria Lee
Photo courtesy of Governor’s Office of Tennessee
How does investing in Tennessee give companies a competitive edge?
LEE: As a businessman, I learned that when you can predict what your model is going to be for delivering your product, you can be competitive. When I ran a company, the more I could predict and understand what all the inputs would be, the more likely it was that I could compete. In Tennessee, we understand that. We run our state according to sound business principles. We understand that predictability matters in tax structure and regulatory environment. That gives businesses confidence.
When Starbucks announced that it will invest $100 million and hire 2,000 employees in Tennessee, the news captured attention nationwide. How was Tennessee able to land this signature win?
LEE: The business environment here is one factor that stands out. When you think of big relocations and major investments, American businesses consistently rank Tennessee at the top of their lists. In-N-Out Burger is a perfect example of an iconic national brand. They chose to establish a presence in Tennessee. So did Oracle, a Silicon Valley company that made Nashville their global headquarters. When Ford Motor Company decided to build its first new U.S. plant in 50 years, they had every state to choose from, and they chose Tennessee. We talked about workforce, culture, energy and way of life with Ford. We showed them that we have the capacity to provide energy to the industry of the future. AllianceBernstein, a globally recognized investment firm, moved its headquarters from Wall Street to Nashville.
Our environment attracts these companies. There is something different about Tennessee, and people know it. People used to ask: what is our secret? But the secret is out. I travel around the world, and everyone knows about Nashville now. We have a remarkable music scene and atmosphere that is second to none. It extends from Memphis to Knoxville. This music environment is important to our state. It is the second-most significant contributor to our economy, and it draws people from all over the world.
What are some other recent corporate expansions in Tennessee?
LEE: Korea Zinc is a very important one. As America works to rebuild critical mineral and advanced manufacturing supply chains, companies are choosing Tennessee for major investments. The French company Orano is another strong example of a foreign direct investment project that reflects Tennessee’s position as a leading destination for international business.
Orano is a global leader in the nuclear fuel cycle, and their decision to invest here builds on Tennessee’s longstanding leadership in nuclear energy—a legacy that traces back to the Manhattan Project. As demand for reliable, affordable energy continues to grow, Tennessee is well-positioned to lead the next generation of nuclear innovation, with Oak Ridge serving as a global hub for research, development and commercialization.
We’re also seeing growth across a range of industries. Barrett Firearms announced a major expansion in Murfreesboro, and Nissha Medical Technologies recently announced a significant investment in Nashville. These projects reflect the confidence companies have in Tennessee’s workforce, business climate and long-term economic future.
Lee speaks at the Starbucks corporate office investment announcement in Nashville.
Photo courtesy of TNECD
Tennessee has a long history of leading the nation in energy development. Given the advancements that have been made recently in nuclear energy, how is Tennessee positioned to lead America and the world in energy R&D and generation?
LEE: By almost any measure, the leading voices in the energy world would agree that Tennessee is at the top of the list for the future of the nuclear industry. We have seen one announcement after another in Oak Ridge. Multiple hundreds of millions of dollars are being invested right now into small modular reactors (SMRs) in Tennessee. We are seeing that come to fruition. It began to ramp up a few years ago when we created a Nuclear Energy Fund. We began talking to companies in a much more serious manner. We are committed to being the first state to build an SMR. This has been part of our legacy for 80 years, and it does not just benefit Tennessee. It is important to America.
So many companies choose Tennessee due to the talent that your state develops. How does Tennessee maintain its edge in workforce development?
LEE: The state with the workers is going to win. They have to be skilled, talented and educated. Education is intended to create skilled people. It begins with K-12 education and includes post-secondary schools. We have made great strides in K-12 education. We went from the bottom half of the country to No. 17. We are moving seriously in the right direction. In reading improvement, we are now in the top five in the country. That is important to the workforce. We have also invested heavily into multiple pathways for success, through investments in our technical colleges and skilling up workers in the agricultural industry to create alternative pathways to a traditional four-year degree.
What is Tennessee’s best-kept secret?
LEE: I tell people all the time—you really need to come here before you can make a decision. There is something very unique about the Tennessee experience. It is difficult to describe. We are growing in population. Tennessee has become a destination for tourists and relocating families. Also, Tennessee is absolutely beautiful. We have created a record number of state parks. When you see the beauty of the natural resources of our state, as well as the unique culture and way of life here, there is nowhere else quite like it.
Hosting an NFL Super Bowl is a major accomplishment for any state. How was Tennessee able to win this grand prize, and what does that tell the world about Nashville and your state?
LEE: It is something we are very proud of. Nashville has built a reputation as a city that knows how to host world-class events and make people feel welcome. Whether it’s the New Year’s Eve Bash, CMA Fest or the 2019 NFL Draft—which drew nearly 700,000 people downtown—we’ve shown that we can successfully bring together large crowds and create memorable experiences.
A big part of that is Nashville itself. Lower Broadway has become one of the most recognizable entertainment districts in the country, and when you combine that energy with major events, it creates something special. This is a city with a vibrant music scene, a thriving tourism industry and passionate support for its professional sports teams, including the Titans, Predators and Nashville SC.
Hosting a Super Bowl also reflects a strong commitment from our community and our state. The city, the state and the Titans partnered on a $2 billion investment to build a new stadium in downtown Nashville, demonstrating our belief in the city’s future and its ability to compete on a national stage.
The NFL recognized what Tennesseans already know: Nashville is a premier destination. We’re honored to welcome fans from across the country and around the world when we host Super Bowl LXIV in 2030.
