The Knoxville-Oak Ridge Innovation Valley climbed from 17th to fifth in the nation in Forbes magazine's annual business rankings - outperforming all other Tenenssee cities in overall rankings.

"The Knoxville area continues to reap the benefits of working together and leveraging the entire region's assets," said Knoxville Mayor Bill Haslam. "This ranking, and others like it, put Knoxville on the map for businesses seeking to build new facilities."

Forbes ranked metro areas on the following categories: cost of doing business, cost of living, job growth, income growth, migration patterns, crime rate, number of colleges, number of college-educated people in the work force and culture/leisure.

The Jobs Now initiative, funded by 170 public and private investors throughout the 16-county Innovation Valley, supports job growth, capital investment and increased annual wages.

Economic developers at the local and state levels -- as well as the Tennessee Valley Authority -- actively market the region and respond to business inquiries in a coordinated manner.