ETEDA's Summer Newsletter is here

Stay connected with our latest newsletter at East Tennessee Economic Development Agency (ETEDA)! Get informed about the news, trends, and opportunities in economic development in our region. We're excited to share the stories of the amazing people and places that make East Tennessee truly exceptional.

Board Spotlight: Gabriel J. Bolas II

POWERING GROWTH THROUGH SERVICE, RELIABILITY, AND COMMUNITY CARE

When storms hit, Knoxville Utilities Board (KUB) employees don’t run away from them—they run toward them. For Gabriel Bolas, that mindset defines both KUB’s culture and its role in powering one of the fastest-growing regions in the Southeast.

Bolas is President and CEO of KUB, the largest utility provider in East Tennessee. KUB is a municipal utility serving more than 520,000 customers in Knoxville and parts of seven adjacent counties with electric, fiber, natural gas, water, and wastewater treatment services.

Photo Source: KUB

January 16, 2026

LIS Technologies Announces a $1.38 Billion Investment and 203 Jobs

In January, LIS Technologies announced a $1.38 billion investment and the creation of 203 jobs in Oak Ridge, Tennessee, to develop a laser-based uranium enrichment facility on the historic K-25 site. Once completed, the project is expected to become the first U.S.-origin commercial laser uranium enrichment plant, strengthening domestic nuclear fuel production for utilities, next-generation reactor developers, and national security needs. The investment represents one of the largest nuclear-related commitments supported by Tennessee’s Nuclear Energy Fund and builds on Oak Ridge’s long legacy in uranium enrichment.

January 23, 2026

Centrus Reveals Expansion Plans with a $560 Million Investment and 430 New Jobs

In another major nuclear industry announcement this year, Centrus Energy revealed plans to expand its Oak Ridge centrifuge manufacturing facility through a more than $560 million investment in Anderson County. The project is expected to create nearly 430 new jobs and support the large-scale production of advanced centrifuges used in uranium enrichment. As the only uranium enrichment centrifuge manufacturing facility in the United States, Centrus’ Oak Ridge operation plays a critical role in strengthening the nation’s domestic nuclear fuel supply chain and supporting future energy and national security needs.

IWI Ribbon Cutting Ceremony Celebrates a $15.7 Million Investment

In April, a ribbon-cutting ceremony celebrated the opening of the Israel Weapon Industries (IWI) headquarters in Anderson County. IWI, a firearms importer and manufacturer, announced in September 2025 that it would invest $15.7 million and create 72 new jobs as part of its relocation to Tennessee. The company’s East Tennessee operation will focus on high-paying manufacturing jobs. IWI cited Tennessee’s business climate, legislative environment, workforce availability, and overall risk mitigation strategy as key factors in selecting the new location.

Photo Source: TNECD

TNECD Visits Morgan County

On March 27, ETEDA, in partnership with the Morgan County Economic Development Board, hosted members of the Tennessee Department of Economic and Community Development (TNECD) Community and Rural Development team in Morgan County. The visit allowed team members to see firsthand the impact their programs are having in communities across our region and the state.

The day started with lunch at Plateau Electric Cooperative, where several local infrastructure and community enhancement projects were highlighted by local utility partners and community volunteers. After lunch, a short walking tour through downtown Wartburg showcased many of the improvements that have been made through TNECD programs.

The group then traveled to the newly established 138-acre Morgan County East Industrial Park in Petros. The industrial park was first identified in 2020 when Morgan County participated in TNECD’s Property Evaluation Program and was acquired in 2025 with assistance from the Select Tennessee Site Development Grant Program.

The day’s events concluded with a guided tour of the Historic Brushy Mountain State Penitentiary and a group dinner at Parolee's Restaurant & Store. Through the support of Morgan County and assistance from TNECD and the Appalachian Regional Commission, the prison, which operated from 1896 until 2009, has been transformed into a major tourist attraction featuring events, concerts, a campground, two restaurants, and a distillery.

Photo Source: TNECD

Jefferson County Selected to Participate in the Select Tennessee PEP Program

Jefferson County has been selected to participate in the Tennessee Department of Economic and Community Development’s (TNECD) latest round of the Select Tennessee Property Evaluation Program (PEP). The program helps communities strengthen their industrial site inventory by evaluating potential development properties and identifying opportunities for improvements that can enhance marketability and future investment potential. Through the program, Jefferson County will receive guidance from TNECD and site selection firm Austin Consulting, including an on-site review, education on the site selection process, and recommendations aimed at preparing industrial sites for future economic development opportunities.

Tennessee Ranks #1 in the Advanced Manufacturing and Nuclear Industries

Tennessee continues to earn national recognition as a leader in advanced manufacturing and energy innovation. The Site Selection Group recently ranked Tennessee number one in the nation as the “Best State for Manufacturing,” citing strengths including workforce availability, competitive operating costs, infrastructure, and geographic accessibility.

Earlier this year, Tennessee was also recognized by the American Nuclear Society’s “Nuclear News” as number one among the “Top 10 States of Nuclear,” specifically highlighting East Tennessee as the epicenter for next-generation nuclear development and growth. East Tennessee’s unique assets, including existing nuclear infrastructure, emerging small modular reactor projects, new and planned fuel facilities, workforce partnerships, and the leadership of Oak Ridge National Laboratory, continue to position the region at the forefront of nuclear innovation and investment.

Photo Source: DOE, ORNL

At ETEDA, we’re moving mountains, and we want to make sure you don’t miss out. Be sure to follow us on LinkedIn, X, and Facebook for all the latest regional updates, news, information, and success stories of the amazing things happening in our 15-county region. Join the conversation and stay connected with ETEDA!

Share This Email