Economic Development

Did You Know?
  • According to the American Community Survey (ACS) of the United States Census Bureau, approximately 62% of Farragut’s population age 16 and over is in the labor force.
  • According to the ACS, approximately 56% of the labor force is employed in management, business, science and/or arts occupations.
  • In 2015, the Town of Farragut issued 105 new residential permits, equaling a total value of $39,611,219.
  • The Town of Farragut does not have a municipal property tax and does not receive any portion of the property tax paid to Knox County.
Commercial/Business
The Town of Farragut is home to a multitude of dining, entertainment, grocery and retail establishments as well as various businesses (both home and traditional office-based), healthcare centers and financial institutions. The Town also currently has nine hotels/motels with a total of 725 rooms.

The Town’s Community Development and Engineering departments offer comprehensive services to businesses and developers. In keeping with the Town philosophy of the importance of green space, requirements in commercial and office areas include setbacks, buffer strips, sidewalks and landscaping. For more information about development in Farragut, please call (865) 966-7057 or explore this website. Information about commercial and business development is also available from the Farragut/West Knox Chamber of Commerce – (865) 675-7057 or the Farragut Business Alliance (FBA) at (865) 307-2486.

In 2012, the Board of Mayor and Aldermen approved the business privilege license ordinance, which requires every person who conducts a business that operates from a physical site located within the Town’s limits to obtain a license. Incurring a one-time $15 fee, the license applies to all commercial, office and home-based businesses. The purpose of the business privilege license is two-fold. First, since the Town of Farragut does not levy a property tax, sales tax revenue is the Town’s main funding source. The Town must maintain a comprehensive business listing in order to ensure its proper share of sales tax revenue from the State of Tennessee. Second, a comprehensive business listing allows the Town to effectively communicate with its businesses. The complete ordinance, as well as the license application, is available on this site.

Shop Farragut
Visit the Shop Farragut website for complete details on this important year-round campaign.

Revenue
The single largest source of the Town’s revenue comes from local sales tax which has steadily grown with the expansion of commercial property in the Turkey Creek development along Parkside Drive and the expansion of businesses along Kingston Pike.
 
Farragut Business Alliance
The Farragut Business Alliance's mission is to advocate for the Farragut business community in the political and other processes and promote those businesses and the Town through “Shop Farragut” branding and community events. FBA offers numerous special events throughout the year, including Art in the Park for Kids, Taste of Farragut and Light the Park.

Contact: Allison Sousa, Executive Director
(865) 307-2486
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Farragut West Knox Chamber of Commerce
Since 1987, the Farragut West Knox Chamber of Commerce has served as a proactive voice for business and the community it serves. Current membership includes approximately 700 area businesses. The Chamber’s mission is to strengthen and support the community by promoting business growth, education and economic development. Chamber sponsored events include the Farragut Fall 5K, Fun Walk and Pet Parade, and its annual dinner & auction.

Contact: Bettye Sisco, President
(865) 675-7057
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