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Former U.S. Senate Majority Leader Frist makes the list not so much for what he did this year as for what he didn’t do—or, said another way, for the shadow he casts. GOP stalwarts, including Zach Wamp (No. 28), Bill Gibbons and Bill Haslam (No. 9), all waited to announce their intentions to run for governor in 2010 until Frist publicly announced he wouldn’t run. Having such a high profile in Tennessee bodes well for Frist’s many current in-state initiatives. At press time, Frist was said to be close to an announcement regarding a Tennessee-based education reform initiative that’s likely to garner a lot of attention.

Runs two highly successful independent record labels on Nashville’s Music Row—including Valory Music Co.—that are flourishing at a time when most in the industry are shrinking. While the old record labels are still functioning largely like battleships that are unable to turn on a dime, Borchetta’s label looks more like a fighter jet. Borchetta signed to her first major label deal then-unknown Taylor Swift, who has had a phenomenal year, arguably carrying the genre. More recently, Borchetta signed country superstar Reba McEntire, who spent the previous 34 years with MCA/Mercury. Transforming the country music industry (and the broader music industry) in terms of marketing and distribution.

A key figure in Clarksville, which was recently successful in attracting Dow Corning subsidiary Hemlock Semiconductor to locate a $1.2 billion manufacturing operation in Montgomery County. Hemlock makes polycrystalline silicon, the key element used in solar panel and computer chip production. The development brings up to 800 “green technology” jobs to the Clarksville region. Hemlock’s new partnership with Austin Peay State University is also a huge boon to the local economy. As such, Piper leads one of the nation’s fastest growing cities—and one with a developing “green” industry identity to leverage at a time when the green energy push is fast becoming a building block of a new American economy.

Lobbyist Weaver figures prominently in politics, policy and business at both the state and municipal (Nashville) level. Has been instrumental in many corporate relocations through the years, including those of Nissan and the Titans. More recent work involved keeping the NHL’s Predators in Nashville and representing the proposed developers of a Bible theme park in Middle Tennessee—a potentially huge new tourism driver for the state. Weaver is well connected with Democrats—most of the party’s contenders for high elected office have been contacting him these days. But unlike many of his ilk, Weaver’s power has not been undone as a result of GOP control of Capitol Hill.

The son of retired cotton king Bill Dunavant is running the family’s global cotton enterprises—the largest privately owned cotton merchandiser in the world—from the industry epicenter that is Memphis. A key voice on cotton issues around the world, Dunavant has also emerged as a local force through service on boards, including those of SunTrust, Baptist Memorial and Memphis Tomorrow.

A star CEO running Warren Buffett portfolio company Clayton Homes, the nation’s manufactured housing leader, which is based in Blount County and was founded by Kevin’s father, Jim (No. 13). A representative of not just second-generation business and philanthropic power, Kevin could be future CEO of at least a piece of the Oracle of Omaha’s Berkshire Hathaway empire. Buffett often publicly praises Clayton’s work.

Not a social or philanthropic force in Chattanooga but a wealthy businessman building a luxury yacht-building operation in a 400,000-square-foot, $20 million building on Tellico Lake. (At press time, the project’s completion had been pushed back.) The plant will build a fleet of luxury boats (anywhere from 165 to 260 feet in length) the likes of which the world has yet to see. Luken also pilots Covista, is a major holder of Knoxville-based retailer Jewelry TV and owns the most impressive real estate portfolio in the Scenic City (most of which he purchased from former mayor turned U.S. Senator Bob Corker).

Nationally recognized labor attorney with Ford & Harrison and head of the Memphis International Airport Authority, the largest cargo airport in the world and a key Tennessee business asset. Also a civic leader in Memphis, Perl chaired the public building authority on the FedExForum project, a jewel of a structure built in downtown Memphis.

The largest local investor and the public face of Nashville’s pro hockey squad, the Predators. Especially in the aftermath of the bankruptcy of California investor Boots Del Biaggio, a key out-of-state member of the ownership team, Freeman’s perseverance in trying to make the club a long-term fixture in Nashville will be crucial. Freeman also co-owns the West Tenn Diamond Jaxx baseball club in Jackson.

Two years ago, Cohen was in pencil on this list. Now he’s in ink. Not only was Cohen re-elected to Congress by predominantly black Memphis—and in a smaller field—but he is now among the ruling Democratic class in Washington, D. C., a place where his liberal politics arguably play a lot more effectively than they did in Nashville. The father of the Tennessee Lottery while in the Tennessee Senate, Cohen appears to have earned the respect and admiration of civil rights leaders in Memphis and could represent the 9th District for the long haul.

Along with other Big Orange sports squads, this sports executive helms the 6th most valuable college football team nationwide ($74 million), according to a recent Forbes article. Hamilton recently fired UT football coaching icon Phil Fulmer following a disappointing 5-7 record, and subsequently hired 30-something Lane Kiffin as his replacement. Hamilton is still basking in the glow of his last coaching hire, UT men’s basketball coach Bruce Pearl, who has been wildly successful. But the stakes are much higher with Kiffin, in whom Hamilton’s future fortunes rest.

The first Memphian, first African American and first clergyman ever to serve on the board of directors of the Tennessee Valley Authority, the nation’s largest public power company and a key driver of economic development across much of the South. Recently reappointed after a lengthy partisan delay by Congress, which did not confirm another appointment in limbo. Graves is also the chairman of Lane College in Jackson.

Helms publicly traded, Chattanooga-based Unum, one of Tennessee’s largest companies, which employs over 2,000 in the Scenic City and around 10,000 total. The insurer serves roughly 100,000 businesses nationally and pays out billions of dollars in annual claims. Former CFO is often credited with turning around the reputation and performance of the company, which has, through marketing, become a much more nationally visible entity over the past few years.

A former pro tennis player, Guerry leads nearly 130-year-old family company Chattem, maker and marketer of such household items as Gold Bond, Icy Hot and Selsun Blue. Growing fast, with several significant recent acquisitions under its belt (including five Johnson & Johnson brands in 2007), Chattem recently announced expansion plans that could represent an investment of over $30 million and the creation/retention of 120 full-time positions. Guerry’s family foundation, Hamico, is a key player in Chattanooga social and philanthropic circles.

Highly respected Chattanoogan who, in addition to wielding the power of ink by the barrel, serves on a number of local boards and initiatives. Former political reporter, press secretary for U.S. Sen. Howard Baker and Reagan White House staffer who pilots one of the oldest and most relevant daily newspapers in all of Tennessee. Ten years after its merger, the Times Free Press remains the nation’s only metropolitan daily newspaper with two different and separate editorial pages.

Publisher of more than a dozen community newspapers, magazines and Web sites across East and Middle Tennessee (as well as in other states). A newspaper icon who sits on the Associated Press board of directors, Fishman is also an important civic figure guiding Morristown’s economic development efforts—a key player in the city’s success in landing new industry through the years. Also a longtime past member of the State Board of Regents governing higher education institutions statewide.

Cleveland, Tenn.-based purveyor of the retail check cashing industry nationwide whose business, Check Into Cash, is facing aggressive efforts from various states, including Tennessee, to curtail it. Recently dealt a significant blow by the Ohio legislature but balanced that loss with the acquisition of nearly 100 new stores in payday-advance friendly Texas. A significant philanthropist and business presence for Bradley County and beyond. Jones’ wealth and generosity are on display in places like UT-Knoxville, UT-Chattanooga and downtown Cleveland.

Cleveland, Tenn.-based Lawson built her wealth in the rental and payday advance industries, but through the years, she has diversified her investments into numerous private companies ranging from jewelry to government relations. Lawson recently splashed as one of the developers of Cleveland’s first residential/retail lifestyle neighborhood development, SpringCreek. Among the state’s top philanthropists, particularly to UT-Knoxville and UT-Chattanooga. Most conspicuously, Lawson in recent years donated $10 million to UT-Knoxville for athletic and academic projects, including $2.5 million for a new basketball practice facility. Lawson is the newest member of the Tennessee Sports Commission.

Among the Capitol Hill lobbyists who, after years of toiling away on the minority side of the aisle, benefits most from GOP control of the state House and Senate. Has served as counsel to a number of statewide Republican campaigns. Former member of the Davidson County Election Commission. Has chaired the Government Affairs Committee of the Tennessee Bar Association.

Key former Tennessee Regulatory Authority director (and past chief of staff to former Lt. Gov. John Wilder) now helping Gov. Phil Bredesen develop his legislative agenda and serving as Bredesen’s chief lobbyist and liaison to the General Assembly. Miller’s job just got a whole lot more difficult as a result of the GOP’s taking control of Capitol Hill. It just means the Bredesen administration will be relying even more heavily on Miller to bridge differences due to his across-the-aisle relationships with people like Matt King, chief of staff to Lt. Gov. Ron Ramsey.