Tuesday was a big day for the Nashville economy.
Amazon announced it will create 5,000 jobs in the Music City. The New York firm Ernst & Young says it will bring another 600 jobs. And a major basketball tournament will be coming back to Bridgestone Arena.
City officials announced an agreement yesterday that will make Nashville the home of the Southeastern Conference’s men’s basketball tournament almost every year through 2030, with the possibility of extending the arrangement through 2035.
Mayor David Briley said the deal, which came at the end of a busy day of economic development news, solidifies the city’s reputation as the place to be.
“The SEC’s decision to make Nashville the long term home of the men’s basketball tournament is really a testament to the city of Nashville and all of the people who live here,” Briley said. “And how great a place it has become over the past few years for tourism, for business, and for people to have fun.”
The agreement starts this March, and according to SEC’s officials, the 2019 tournament will mark the eighth time the SEC men’s championship is held in Nashville. Officials estimate the tournament could bring $350 million to Nashville in the next 12 to 17 years.
The SEC is also considering Nashville as the permanent home for its women’s tournaments.
Amazon’s Operations Center Of Excellence
It was one of three, headline-grabbing economic development deals announced over the span of eight hours. It began with news that Amazon will invest $230 million in what it’s calling the Operations Center of Excellence, a 15-acre facility in downtown Nashville.
According to Amazon officials, the project is expected to bring 5,000 jobs with an average salary of $150,000.
The center —which will anchor the Nashville Yards project — will be used to oversee Amazon’s East Coast customer fulfillment, supply chain and transportation.
The company will be receiving more than $100 mullion in state and local incentives. Amazon officials say they expect to start hiring next year.
EY’s technology hub
Meanwhile, Ernst & Young, the global professional services firm, also said it will invest $22 million in a new technology hub in Nashville. The project is expected to create 600 jobs over the next five years.
The new office — called the Exceptional Delivery Growth Engine, or Edge Center— will be located on Music Row. EY officials said the center will be home to software development, and design and testing, among other services.
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