Stories of Technology, Innovation, & Entrepreneurship in the Southeast

Governor Bill Lee discussed several topics in his final State of the State Address on Monday – from homes and parks to education and economic development. We pulled data points from three core verticals that may interest Teknovation readers: nuclear, AI/quantum, and rural innovation support.

The past – and future – of state nuclear funding

“Tennessee’s Nuclear Fund that you helped create has already recruited $8 billion in investment from leading nuclear companies around the world, creating thousands of new jobs, and more are on the way,” said Governor Lee.

Since the inception of the fund, it has helped attract companies like Centrus Energy Corp., LIS Technologies, Radiant Industries, BWXT Enrichment Operations, LLC, Oklo Inc, Master Machine, LLC, Orano USA LLC, and Type One Energy Group, Inc.

Governor Lee announced that the state will be proposing an additional $25 million to the Nuclear Fund this year.

Here’s a breakdown of some nuclear-specific objectives:

• $10 million further investment in the Governor’s Investment in Vocational Education (GIVE) program to support nuclear workforce education, as recommended by the Nuclear Energy Advisory Council.
• $3 million for Next-Gen Academies at Tennessee Tech University for nuclear and cyber technologies.
• $25 million further investment in the Nuclear Energy Fund to attract advanced nuclear technology companies, ensuring Tennessee continues leading the nation as the epicenter of America’s nuclear renaissance.

AI and quantum readiness are top of mind for the state

“We also have a vision that Tennessee will both power America and be the catalyst for solving our nation’s most complex problems. So, we’re moving ahead on another front – AI and quantum computing,” Governor Lee said.

Here’s a breakdown of some computing-specific objectives:

• $20 million to complete the relocation of the North Data Center.
• $50 million to continue Tennessee’s efforts to lead the nation in the adoption of artificial intelligence technology and make government work more efficiently for Tennesseans.
• $20 million to accelerate Tennessee’s quantum computing industry by attracting substantial federal and private-sector investment and to translate our scientific strengths into durable, high-wage job creation across advanced manufacturing, life sciences, and logistics industries (read more from Teknovation on Quantum).

Rural communities are receiving targeted support

Since Governor Bill Lee took office, rural innovation and prosperity have been a focal point of his campaign and efforts.

” You’ve heard me say that what happens in rural Tennessee matters to every Tennessean,” he said.

Rural health has also become a focal point of the presidential administration. Through that, the Rural Health Transformation Fund announced that it will award Tennessee with more than $1 billion over the next five years to transform healthcare in rural communities all across the state.

“That’s a billion dollars for our rural hospitals, our rural EMS, and our rural primary care doctors,” Governor Lee said.

Here’s a breakdown of some rural-focused initiatives:

• $25 million further investment in the Rural Development Fund to improve the quality of life in rural communities by supporting business development and infrastructure planning.
• $30 million to create the Starter Home Revolving Loan Fund to support the construction of new, affordable starter homes for hardworking Tennesseans, prioritizing rural communities.
• $205 million utilizing Shared Savings to strengthen healthcare initiatives, including funding Rural Health Transformation Resiliency Grants.
• $2 million to aid in the expansion of agricultural technologies in rural communities.

Read the full address here.

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