Tennessee has the advanced energy economy
- James DeMouy is vice president of environment, health, safety and sustainability for Bridgestone Americas Inc. He is also a member of the board of directors of the Tennessee Advanced Energy Business Council.
Tennessee is best known nationally for the Nashville music scene, the majesty of the Great Smoky Mountains, Jack Daniels barbecue and Memphis. But the voluntary state is one of the best in the country for advanced energy saving. While not as eye-catching as the latest country music hit, it is vitally important to our state’s economy, creating well-paying jobs and attracting investment that benefits all Tennesséens. .
What is advanced energy economics? Simply put, it is everything that makes the world’s energy cleaner, safer, more secure or more efficient. Advanced Energy features our award-winning automakers who are building the next generation of low-emission and zero-emission vehicles. In fact, Tennessee leads the Southeast in manufacturing electric vehicles, accounting for 40% of electric vehicle jobs in the region.
Advanced energy is also found in the electricity sector, in our world-class research institutes, in economic development organizations, businesses and entrepreneurs, as well as in technology training programs. Advanced energy is technologically neutral; it includes everything that makes energy cleaner, safer, more secure or more efficient, and includes electricity and transportation.
Work of the Tennessee Advanced Energy Business Council
Tennessee is a clear winner when it comes to advanced energy economics. In 2016, the Tennessee Advanced Energy Business Council, which champions advanced energy as a strategy for job creation and economic development, conducted a baseline assessment of the strength of Tennessee’s advanced energy economy. Its growth has exceeded expectations. Using 2019 data (i.e. pre-pandemic and most recent available), The latest TAEBC report tells a great story for the state, as evidenced by job increases, tax revenues, wage spending and the number of companies engaged in the peak energy sector. All signs point to robust growth, with the sector outperforming the state’s overall economy in all measures analyzed.
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Bridgestone Americas is a leader in the advanced energy economy in Tennessee. In addition to our head office in Nashville, we operate tire plants in Warren and LaVergne County, an industrial products plant, distribution center and 59 retail stores. This means more than 4,500 team members with high paying jobs.
Sustainability is fundamental in our DNA as we seek to improve our world by reducing carbon emissions and operating in an environmentally responsible manner. Smart and digitally integrated active technologies are essential to create new value for society and our customers in all aspects of our business in order to create a portfolio of products and services that enable cleaner, safer and more efficient mobility. For example, airless tires extend mobility, and proactive smart tire technology provides analytics to anticipate problems and service needs.
Advanced energy jobs pay more
The advanced energy economy touches all 95 counties and employs nearly 394,000 Tennessee residents, a 10% increase from baseline valuation in 2016. Advanced energy jobs pay an average of $ 64,000, far more than the $ 48,000 average salary in Tennessee. Advanced energy represents more than 20,340 companies operating within our borders.
Peak energy is proving to be a major component of the state’s economy, contributing $ 45.8 billion to the state’s gross domestic product, an impressive increase of $ 6 billion in recent years and greater than state growth in all other sectors combined.
In short, we are making very steady progress, but we also recognize that we have huge opportunities ahead of us to achieve even greater results.
We are not the only state enjoying the benefits of a strong and advanced energy economy. Therefore, the stronger our share of the pie in this sector, the more investment we attract to fuel further expansion, which is a critical part of the ongoing global crisis. clean energy transition. With the findings of TAEBC, not only are we building support at home, but showing the world that we can use Tennessee’s brains and strengths to work to become a leader in this $ 1.4 trillion global marketplace.
James DeMouy is vice president of environment, health, safety and sustainability for Bridgestone Americas Inc. He is also a member of the board of directors of the Tennessee Advanced Energy Business Council.