Selling Metalworking Equipment in Tennessee: The Complete Guide

Selling Metalworking Equipment In Tennessee

Across the volunteer state there are many interesting facts about its history. Tennessee is known as the birthplace of rock ‘n roll and the modern home of country music. Nashville is quickly becoming one of the top tourist destinations in the state and Memphis will always be the Barbecued Pork Capital of the World. However, Tennessee is home to much more than good food, good music and good company, Tennessee is quickly becoming an industrial powerhouse. In this guide we will be reviewing the manufacturing history, the business benefits and more to determine Why Businesses in Tennessee Must Sell Used Metalworking Equipment.

Table Of Contents:

Manufacturing History in Tennessee

Tennessee has moved rather seamlessly from an agricultural society to one that is industrial, mostly since the Civil War. Today, Tennessee is a top producer of such things as automobiles, chemicals, and electronics. Most early settlers in Tennessee were farmers, and they made their own goods from what could be gleaned off of their farms and from nearby mercantile stores.

As more settlers moved in, production of yarn and cloth, farm equipment and tools, flour, leather, cotton clothing, and lumber became common industries in the state. Most early manufacturing industries there utilized local raw materials, and eventually, tobacco products and liquor also entered the realm of Tennessee-produced goods. Iron mills became an industry in the state in the 1790's, and were known for their production of nails.

All of Tennessee's manufacturing industries were only important within the state until after the Civil War. With industrial development being promoted as the key to a better future at that time, many southern states, including Tennessee, jumped on the manufacturing bandwagon. The state provided tax breaks and other subsidies for those who would invest in industrial production in the region.

Metalworking Equipment In Tennessee

While Tennessee did not become a major hub of manufacturing in the United States until after WWII, it still produced significant amounts of cotton fabric, lumber, and other items using regional raw materials, and shipped it to the rest of the country. After the war, the automotive industry became huge in Tennessee. Now, it is well-known for its car manufacturing, as well as its manufacturing of chemicals, electronics, farm equipment, liquor, and regional southern crafts.

Products Manufactured in Tennessee

The biggest manufacturing industry in Tennessee today is processed foods, especially products made out of grain, like bread and breakfast cereal. The state also manufactures beer and whiskey, candy, meat, dairy products, and vegetable oil. All of these products require metal equipment to process, package, and produce them.

The second biggest manufacturing industry in the state is in transportation. Cars, boats, and airplane equipment are all manufactured here in large quantities. There are two major auto manufacturing plants in the state, and they support several auto parts manufacturers in the state that have gone into business to serve these plants. These industries work with metal both in the actual products they make, and in the equipment used to make them.

Selling Nashville Metalworking Equipment

The third most prolific manufacturing industry in Tennessee is chemicals. The state is a leading producer of chemicals in the nation, especially for industrial chemicals, pharmaceuticals, paint, plastic resin, and soap. Metal construction equipment is an important component of the chemical manufacturing industry. Metal vats, rollers, stirrers, stands, portioners, and more are all part of this important and lucrative state industry.

Business Incentives for Tennessee

Tennessee offers the following tax benefits for expanding or relocating manufacturing businesses:

  • Standard Job Tax Credit — This is a tax credit of $4,500 per job. It is used to offset the franchise and excise tax liabilities of a manufacturing company.
  • Enhanced Job Tax Credit — This is a tax credit that of $4,500 per job. Manufacturing companies use it in addition to the Standard Job Tax Credit, and it is only for those companies that expand in or relocate to Tennessee, in counties that have greater economic poverty than other Tennessee counties.
  • Super Job Tax Credit — This is a $5,000 per job tax credit. It is used for companies that make an investment of $100 million or more in the state, and also create at least 100 new jobs that pay at least 100% of the average occupational wage in Tennessee. It can also be used for manufacturing companies that establish or expand a regional, national, or international headquarters in Tennessee with an investment of $10 million minimum, with at least 100 HQ jobs that pay at least 150% of the average occupational wage in Tennessee.
  • Industrial Machinery Tax Credit — This is a tax credit of 1% - 10%, used for the purchase, third-party installation and repair of qualified industrial machinery to be used by companies in the manufacturing industry.

Tennessee is very generous when it comes to its business incentives. In fact, it provides about $2.5 billion in business incentives each year for the manufacturing industry. These incentives include the above tax breaks, as well as breaks on property taxes, business grants, and other business subsidies. The amount given equals about one percent of the GDP of Tennessee in the private sector. This makes Tennessee the fourth highest state in the nation when it comes to providing business incentives to the manufacturing industry.

Why Businesses in Tennessee Must Sell Used Metalworking Equipment

Companies that work in manufacturing use a lot of different types of metal equipment and metalworking equipment. To stay competitive, they must be ready at a moment's notice to discard equipment that no longer does the job they need it to do (or to the quality they need it to be done), and they must also be ready to invest in new metal equipment that keeps up with the changing times and methods in their industry. Because Tennessee is heavily influenced by the state of the manufacturing economy, knowing when and where to sell used metalworking equipment is a must.

Just because a company's metalworking equipment no longer serves their needs does not mean it is not any good anymore, or that it would not serve another company's needs perfectly. Therefore selling metalworking equipment in Tennessee is such an important thing to know how to do. There is a market for such equipment and putting it out there in the right marketplace insures higher prices, which a company can use to invest in newer equipment for themselves, or into some other important area of their business that needs extra funding.

Sell used Metalworking Equipment

Companies should not simply be taking their used metal and metalworking equipment to the scrap yard and getting whatever recycling price is available. There are buyers out there who want the equipment as-is, and they can be found both on and offline. However, finding them online is far easier, if a company knows the correct place to go to list their used metalworking equipment for sale.

Why Sell Metalworking Equipment on Aucto

If you are a representative or owner of a company that is interested in selling metalworking equipment in Tennessee, you might have had a challenging time finding the correct place to sell it. However, those issues can be at an end when you use Aucto. Aucto is an online marketplace for used metal and metalworking equipment that is unique among online auction platforms. Aucto has an established buyer base, so interested buyers are already there, waiting for you to list your equipment. Because they are ready and eager buyers, you can easily get the best possible profit on your sale on this platform.

The platform is easy to use and provides a wide variety of tools to market and sell your used metal and metalworking equipment quickly and smoothly, while reaching the maximum number of potential buyers and getting the best possible price. You can use Aucto to set up your auction either online or onsite, and easily use the platform to monitor your auction from listing to sale. If you haven't tried Aucto yet, now is the time to do so. You will be surprised at how easy it is to use it to sell used metal and metalworking equipment for high prices to eager buyers who want exactly what you have to offer them

Conclusion

When selling metalworking equipment in Tennessee, you have options to help move that machinery, but Aucto is one of the best sites available. With Aucto, the selling process is always free, and we charge one of the lowest brokerage fees to buyers in the industry. We also provide you with a wide range of sales tools to ensure your used equipment can find a new home.

Have a question about buying used industrial equipment or selling used industrial equipment online? Give Aucto a call at 1 (844) 326-7339 or email at sellers@aucto.com, and our team of experienced online auctioneers and customer support team will be more than happy to answer them.

Like this article? Check out some of our recent articles: 3 Reasons Online Auctions Are Changing The Industrial World Forever, Buying in Industrial Auctions: Insider Tips for Your First Used Equipment Auction, and  5 Common Myths About Selling Used Equipment Online to learn more.

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