Tennessee FastTrack Economic Development Fund

The Tennessee FastTrack Fund supports companies with significant capital investment or job creation by providing grants for infrastructure, building modifications, and training. The program is designed to reduce early project costs and accelerate the readiness of new or expanded facilities.

Eligible expenses include site preparation, utility improvements, building modifications, and workforce onboarding. Tennessee evaluates both the scale of the project and the timeline for execution. Companies that move quickly and demonstrate readiness tend to perform well.

FastTrack funds are disbursed based on milestones such as hiring or construction progress. This structure ensures that public investment aligns with actual project development. Companies benefit because they can stage costs more strategically as the facility becomes operational.

Tennessee uses this program to attract industries such as automotive, advanced manufacturing, food processing, and logistics. The state’s coordinated approach between state and local partners makes it an efficient tool in competitive site selection.