Counties selected represent the Upper Cumberland and Northeast Tennessee regions, PEP originates from TNECD’s Select Tennessee Certification Program
Nashville – Four counties, including two in the Upper Cumberland, have been selected to participate in the latest round of the Select Tennessee Property Evaluation Program (PEP).
The counties include Carter, DeKalb, Overton and Washington. Carter and Washington counties submitted a joint application. PEP evaluates potential industrial properties, advising counties on industrial site improvements and where investments may be most beneficial.
Since its inception in 2015, PEP has helped improve the inventory of industrial sites and buildings across the state, with more than 424 sites being reviewed.
“Tennessee’s success in recruiting and landing economic development projects is in part due to the cohesion we have working with community leaders across our state’s 95 counties,” TNECD Commissioner Stuart C. McWhorter said. “The Select Tennessee Property Evaluation Program is a tool that allows our department to continue supporting our local partners in developing shovel-ready industrial sites, and I am excited to see the economic growth that this latest round of the program brings to Carter, DeKalb, Overton and Washington counties.”
PEP originates from TNECD’s Select Tennessee Certified Site Program. With assistance from site selection firm Austin Consulting, PEP provides participating counties with guidance on site planning for future industrial development projects.
PEP includes an on-site visit by Austin Consulting and TNECD, an educational webinar on the site selection process and a comprehensive assessment of the strengths and needs of each community’s inventory of industrial sites.
This assessment also offers recommendations to improve marketability.
“The Property Evaluation Program allows each community to take an inventory of their future industrial sites, receive a straightforward assessment of each, and build a consensus around which properties offer the best opportunities for industrial growth, whether in the near-, intermediate-, or long-term,” said Jonathan Gemmen, senior director of Austin Consulting.
These counties were selected based on the demonstrated local need for industrial properties and the county’s ability to assemble properties with viable market potential. The application process begins with a submission of a letter of intent, which is accepted at any time. Upon receipt of the letter, interested communities will receive the PEP application.
A new round of communities will be accepted into the program in the spring of 2024 with letters of intent due by Jan. 11, 2024.
Image by usertrmk on Freepik.
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