6 percent of Tennessee workers are employed by foreign based companies vs 4.2 percent as the national average. In Hamilton County (Chattanooga metro area) and Bradley County (Cleveland/Chattanooga) over the past 4 years, several companies from Germany and France have located here.
The billion dollar VW assembly plant with 2,500 new jobs and the billion dollar polysilican plant in Cleveland by Wacker Chemical based in Munich are both under construction and anticipating a greater investment than originally planned. Many ancillary and suppliers’ firms will locate in the region, too, as a result. Other major local employers with foreign owners include T-Mobile, Abitibibowater, BASF and Alstom Power.
These projects in southeast Tennessee are some of only a handful of billion-dollar foreign deals in the entire United States recently.
While workers today are glad to have a job, the new U.S. based subsidiaries of foreign-based companies pay above average wages which is also a benefit to the local economy. Additionally, we will become a more globally savvy community with the foreign investment and management teams in and out of the city.
Now is an exceptional time to purchase a home prior to an expected influx of population whereby we should bypass Knoxville’s population soon to be the third largest city in Tennessee, behind only Nashville and Memphis.
Our boutique real estate agency of veteran professionals, having an average of 18 years experience each, has been selling real estate in the consistently progressing Chattanooga and North Georgia market for 81 years. The present mood and feel of the economy is upbeat, positive and progressive. Supply in homes and condominiums is exceptional and demand remains strong. Chattanooga feels good about itself and it shows all over town. Because of our reasonable average sales prices ($141,000 entire MLS metro area), the incredible beauty of this mountain/valley/river location, low property taxes and lack of state income taxes, the market for those out-of-the-area buyers remains alright as well as there being good local demand. We are in a growing economy in which Volkswagen is building a major new facility and a major new chemical production plant is locating in the area. The French plant Alston is relocating 350 nuclear engineers to its downtown Chattanooga plant.
We at Herman Walldorf and Company have it all for you. I invite your call so I can put you in touch with one of our professionals. We are internationally connected, being longtime members of Leading Real Estate Companies of the World and luxury home specialists who can even have properties shown to you in another city. We can also sell your property, therefore, in any market across the world for you -call and we’ll explain that, too. See our website at www.walldorf.com.