KNOXVILLE, Tenn. — Bill Baxter, a Knoxville businessman credited with being a "crusader for good" during his time as a state economic leader, has died. He had turned 71 earlier this month.
The Wort Hotel, which Baxter owned, announced on Sunday that Baxter had passed away.
"It is with a very heavy heart that I announce the passing of Bill Baxter, a great man, visionary, and philanthropist. His compassionate leadership, love of life and community, music, friends, and family have made a lasting impression on us all. Rest in peace, Bill Baxter," said Jim Waldrop, president of Silver Dollar, Inc.
Baxter was a prominent business owner and philanthropist. He got his big break in Knoxville when his father passed the torch to him to run Holston Gases. The company grew significantly in the 1980s and 1990s under Baxter and has expanded into dozens of states to become one of the largest industrial gas suppliers in the U.S.
Baxter also took on several leadership positions in the community, including as the campaign chairman of the United Way in 1997, the chairman of Zoo Knoxville's board, and he served as an economic development leader in Knoxville.
In 1995, he was tapped by Gov. Don Sundquist to serve on the state board for economic growth. Sundquist later appointed him in 1997 as Tennessee's Commissioner of Economic and Community Development, which he served until stepping down in 2000 to return to the private sector. The Tennessee General Assembly lauded Baxter's accomplishments after he resigned as the state's economic development leader, saying Tennessee saw its best two years in private investment and job creation under his watch.
"Commissioner Baxter will be long remembered as an advocate and crusader for good, responsive government and the concerns of all Tennesseans," a 2001 resolution honoring him read. "He is a gentleman whose talent and energy will seldom be equaled and, without question, he will be greatly missed."
Following his departure from state office, Baxter was chosen by President George W. Bush in 2001 to help lead the Tennessee Valley Authority as a member of its board. Bush later nominated Baxter to head the TVA board as its chairman in 2005 during a restructuring period that saw the board changed from three full-time members to nine part-time members. He resigned from the board in 2007, saying he wanted to self-limit his term to five years in the spirit of legislation that would modernize TVA's structure.
In 2003, Baxter and his family bought the historic Wort Hotel in Jackson Hole, Wyoming, and later acquired the nearby iconic Million Dollar Cowboy Bar in 2017.
Baxter continued to serve as the chairman of Holston Gases before his death. He and the company's current president and CEO, Robert Anders, announced earlier in August that Baxter's son, Joe Baxter, will lead the company as its president starting in September -- making the company a third-generation family-owned business.