Tennessee Valley Authority
American utility company / From Wikipedia, the free encyclopedia
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The Tennessee Valley Authority (TVA) is a federally owned electric utility corporation in the United States. TVA's service area covers all of Tennessee, portions of Alabama, Mississippi, and Kentucky, and small areas of Georgia, North Carolina, and Virginia. While owned by the federal government, TVA receives no taxpayer funding and operates similarly to a private for-profit company. It is headquartered in Knoxville, Tennessee, and is the sixth largest power supplier and largest public utility in the country.
Logo of the TVA
Flag of the TVA
|Founded||September 18, 1933|
|Headquarters||Knoxville, Tennessee, U.S.|
|William Kilbride, Chair|
Jeff Lyash, CEO
|Revenue||US$12.54 billion (2022)|
|US$1.11 billion USD (2022)|
|Owner||Federal government of the United States|
The TVA was created by Congress in 1933 as part of President Franklin D. Roosevelt's New Deal. Its initial purpose was to provide navigation, flood control, electricity generation, fertilizer manufacturing, regional planning, and economic development to the Tennessee Valley, a region that had suffered from lack of infrastructure and poverty during the Great Depression, relative to the rest of the nation. TVA was envisioned both as a power supplier and a regional economic development agency that would work to help modernize the region's economy and society. Later it evolved primarily into an electric utility. It was the first large regional planning agency of the U.S. federal government and remains the largest.
Under the leadership of David E. Lilienthal, the TVA also became the global model for the United States' later efforts to help modernize agrarian societies in the developing world. Historically, the TVA has been documented as a success in its efforts to modernize the Tennessee Valley and helping to recruit new employment opportunities to the region. Despite its successes, historians have criticized its use of eminent domain; it resulted in the displacement of over 125,000 Tennessee Valley residents to build the agency's infrastructure projects.