The department worked alongside other state partners and local stakeholders to identify businesses in each of TNECD’s nine regions as having significantly impacted their employees, their community and the state of Tennessee.
Some have been in business for over 100 years and have been staples in their communities for decades, while others are paving the way for a better future for all Black-owned businesses. All have positively impacted their communities and those around them.
Starting next week, TNECD will host a series of events to recognize the companies selected.
“From renowned visual effects companies and chocolatiers to the nation’s oldest Black-owned bank and the fastest-growing whiskey brand in American history, these companies, their leadership and staff are a testament to the Volunteer State’s vibrant culture,” Gov. Bill Lee said. “I applaud these businesses for their outstanding contributions to our state.”
Boasting one of the fastest growing economies of all states nationwide, Tennessee has proven to be an ideal business climate for Black businesses with continued steady growth seen over the past few years. In 2023, the Volunteer State was named the second-best state across the U.S. for Black-owned businesses. The study specifically named Tennessee’s low cost of living, high annual income of Black business owners and lack of a state income tax as reasons for the top-tier ranking.