By A.J. Kaufman, Managing Editor
As part of a Federal Legislative Brunch, the Kingsport Chamber of Commerce and more than 105 attendees welcomed U.S. Sen. Bill Hagerty to the Tri-Cities in late February.
Asked by the Business Journal of Tri-Cities after the event why Northeast Tennessee is such a special place, especially when it comes to economic development, Hagerty called the regional workforce “terrific” and noted that the “support of local government has been very strong.”
“You have solid conservative leadership here, who appreciates the fact that good economic opportunity and a solid job solve many other social problems,” Hagerty told the Business Journal. “The terrain, frankly, makes it challenging sometimes to do economic development, like when you’ve got to blast; but companies are willing to undertake higher infrastructure costs to make the investment because they want to be located here. They like the business climate; they like the population; they like the workforce with a can-do attitude. It’s the best of what Tennessee has to offer.”
During his speech, Hagerty expressed optimism not only about the Volunteer State but the country as a whole. He says the overall economy is moving in a “very positive direction” and spoke of the importance of deregulation occurring via the current administration.
“I just met with a group of business leaders and political leaders here today, and I can tell you the emotion, the sense that we’re going to grow this economy, is palpable. More jobs, more economic activity and a lot more capital investment,” the senator explained. “And if you look no further than what’s been promised to come from overseas; you’re talking about trillions of dollars of capital investment that is coming into America, and the Tax Act that we passed last year makes capital investment one of the most desirable, highest-return opportunities in the world right here in America…Affordability, of course, has been a big issue. What we see is inflation continuing to step down. And as that happens, we will see, I hope, the Federal Reserve lower mortgage rates. That’s going to have a big impact on housing affordability and on the ability to purchase a car, etc.”
He claimed the inflation President Donald Trump inherited from former President Joe Biden “was enormous,” and Trump has since “slowed the pace of inflation dramatically.” Hagerty noted that price increases depend on the item, specifically mentioning lower fuel prices.
The Kingsport Chamber’s Government Relations team also helped organize the event. Chamber President and CEO Miles Burdine introduced the senator, while Julie Bennett, Executive Vice President/Chief Legal and Governance Officer, Corporate Secretary and Chief of Staff to the CEO for Ballad Health, served as emcee.
“I have always thought of our senator not simply as a politician,” Burdine told the Business Journal. “He is a successful businessman, a business recruiter and an inspiring leader who doesn’t just talk about creating a strong business environment but takes the necessary steps to make it happen.”
Hagerty concluded his day in Kingsport with a visit to Eastman’s mixed plastics processing and the methanolysis plant, where the senator emphasized the importance of public-private partnerships and continued investment in research and development. He then participated in a discussion with Eastman employees focused on the future of American manufacturing and the critical importance of sustainable technologies.
A former businessman and Tennessee native, Hagerty served as U.S. Ambassador to Japan before being elected to the U.S. Senate in 2020.
