Nashville — Amazon announced it is investing $230 million in Nashville and adding 5,000 jobs at a new operations site.
The new Amazon site will be located at Nashville Yards, located downtown. The Nashville Yards site stretches from Church to Broadway near Interstate 40 and includes plans for a massive complex of hotels, shops, restaurants, apartments, offices and 1.3 acre park.
While Amazon did not choose Nashville for its second headquarters site, the smaller investment marks a significant jobs gain for the city.
“We want to thank Amazon for its continued investment in the state of Tennessee and are excited about the additional 5,000 corporate jobs they will be creating in Nashville,” said Governor Bill Haslam of Tennessee. “It has never been clearer that Tennessee is a great place to do business, and we continue to attract a wide variety of global companies that provide high-paying, quality jobs for our residents.”
The new site will be responsible for the company's customer fulfillment, transportation, supply chain, and other similar activities.
“Amazon’s decision to expand its presence in Nashville is a direct result of the talented workforce and strong community we’ve built here,” said Mayor David Briley of Nashville. “These are quality, high-paying jobs that will boost our economy, provide our workers with new opportunities, and show the rest of the world that Nashville is a premiere location for business investment. We thank Amazon for investing in Nashville, and we look forward to welcoming them to this community.”
Amazon said it will receive performance-based incentives of up to $102 million based on the company creating 5,000 jobs with average wages greater than $150,000. That includes a $65 million cash grant for capital expenditures from the state over the next 7 years, or $13,000 per job. It also includes a $15 million cash grant from Metro Nashville over the next seven years, based on $500 for each job. A nearly $22 million job tax credit will offset franchise and excise taxes from Tennessee as well.
University of Tennessee president Joe DiPietro said the announcement could lead to a future partnership between Amazon and UT in the future.
DiPietro said that kind of partnership would benefit both the UT Haslam College of Business and Amazon if it were to come to fruition.
Reach Jamie McGee at 615-259-8071 and on Twitter @JamieMcGee_.