NASHVILLE, Tennessee (January 2010) — Bailey Southwell & Co., LLC (BSC) recently acted as the exclusive financial advisor to Tennessee Farmers Insurance Company (TFI) and assisted TFI in obtaining $30,000,000 in premium insurance tax credits awarded by the Tennessee Department of Economic and Community Development (ECD) and the Department of Revenue (DOR). These tax credits were made available through legislation created by the Tennessee legislature and signed into law by Governor Phil Bredesen in July 2009.
The goals of the Tennessee Small Business Investment Company Credit Act, later re-named TNInvestco, are to develop Tennessee’s entrepreneurial infrastructure, to bring additional capital into the state, to diversify the state’s economy, and to create clusters of business innovation, which can result in new companies being created or spun off and new talent being attracted to Tennessee.
More information about the TNInvestco program, including details about the legislation as well as information on the firms managing the invested capital, is available at www.tninvestco.gov.
About Bailey Southwell & Co.
Bailey Southwell & Co., LLC, founded in 2005, is a privately held investment bank with offices in Nashville, Tennessee and St. Louis, Missouri. BSC provides mergers and acquisition and capital raising advisory services to middle market companies. More information about BSC can be found at www.baileysouthwell.com.