The TVA Act authorizes the company to use eminent domain. Despite its shares being owned by the federal government, TVA operates like a private corporation, and receives no taxpayer funding. Since the Depression years, it has developed primarily into a power utility. It was initially founded as an agency to provide general economic development to the region through power generation, flood control, navigation assistance, fertilizer manufacturing, and agricultural development. Code Title 16, Chapter 12A, the Tennessee Valley Authority Act of 1933. The Tennessee Valley Authority is a government-owned corporation created by U.S. Historians have criticized its use of eminent domain and the displacement of over 125,000 Tennessee Valley residents to build the agency's infrastructure projects. The TVA historically has been documented as a success in its efforts to modernize the Tennessee Valley and helping to recruit new employment opportunities to the region. Lilienthal, the TVA also became the global model for the United States' later efforts to help modernize agrarian societies in the developing world. federal government, and remains the largest. It was the first large regional planning agency of the U.S. It later evolved primarily into an electric utility. 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. 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 even more extensive poverty during the Great Depression than other regions of the nation. The TVA was created by Congress in 1933 as part of President Franklin D. It is headquartered in Knoxville, Tennessee, and is the sixth-largest power supplier and largest public utility in the country. While owned by the federal government, TVA receives no taxpayer funding and operates similarly to a private for-profit company. TVA's service area covers all of Tennessee, portions of Alabama, Mississippi, and Kentucky, and small areas of Georgia, North Carolina, and Virginia. The Tennessee Valley Authority ( TVA) is a federally owned electric utility corporation in the United States.
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