Nov 12, 2014
Tennessee Economic and Community Development Commissioner Bill Hagerty is leaving Gov. Bill Haslam’s administration with plans to return to the private sector.
The move, announced Wednesday, marks the first Cabinet departure as Haslam prepares for a second term in office. It also comes one day after one of the state’s biggest economic and development catches this year — the relocation of Bridgestone Americas into a new downtown Nashville high-rise — thanks, in part, to a pledge of state incentives.
“It has been my distinct honor to serve with Gov. Haslam on behalf of the people of Tennessee,” Hagerty said. “The exceptional team we assembled executed one of the most aggressive economic development programs in the world. Tennesseans deserve no less. Our team recruited some of the world’s most iconic companies and enhanced our state’s global reputation for business.”
Hagerty worked as managing director of Hagerty Peterson & Co. LLC, a merchant bank and private equity firm, before his 2011 arrival to Haslam’s team. He previously worked for Trident Capital, L.P., a private equity investment firm headquartered in Silicon Valley, and The Boston Consulting Group, an international management consultancy. He’s also served in a domestic policy role in President George H.W. Bush’s administration and as a national finance chairman for Mitt Romney’s 2008 presidential run.
Hagerty had been rumored as a possible 2015 Nashville mayoral candidate, but he quickly smacked down that speculation in May. He’s also considered a possible Republican gubernatorial candidate in 2018.
In a news release, Haslam applauded Hagerty’s company recruitment efforts, as well as his focus on the film, music and entertainment industries in Tennessee, pointing to his team’s recruitment of the ABC hit series “Nashville.” In addition he highlighted the ECD team’s broadening of the state’s “portfolio of economic development tools,” including programs focused on foreign direct investment, exports and entrepreneurism.
“Our goal has been to make Tennessee the No. 1 location in the Southeast for high quality jobs, and Bill has been key to the successes we’ve had in attracting new investment into the state as well as continued growth of our existing businesses,” Haslam said. “I am grateful for his willingness to serve in the Cabinet and wish him and Chrissy the best upon his return to the private sector.”
Haslam did not give a date on when he would name Hagerty’s replacement.
Reach Joey Garrison at 615-259-8236 and on Twitter @joeygarrison