NASHVILLE (AP) - Tennessee Economic and Community Development Commissioner Bill Hagerty is leaving the administration to return to the private sector, Gov. Bill Haslam announced Wednesday.

The Republican governor didn't say exactly what Hagerty will be doing, even though the commissioner's name has surfaced as a possible gubernatorial candidate in 2018.

Haslam lauded Hagerty's recruitment efforts in helping Tennessee be recognized as the State of the Year in economic development. Just last month, it was recognized as the nation's No. 1 state for job commitments through foreign direct investment.

"Our goal has been to make Tennessee the No. 1 location in the southeast for high quality jobs, and Bill has been key to the successes we've had in attracting new investment into the state, as well as continued growth of our existing businesses," the governor said.

Haslam said that under Hagerty's leadership, the Tennessee Film, Entertainment and Music Commission worked closely with the entertainment industry and Legislature to retool the state's film industry incentives to simplify and broaden access.

The repositioning resulted in the recruitment of the ABC hit television series "Nashville," which airs in more than 50 countries.

Hagerty has served in a number of executive positions ranging from chief financial officer, to chairman and chief executive officer.

A longtime friend and adviser to former presidential candidate Mitt Romney, Hagerty also worked on the White House domestic policy staff during the George H.W. Bush administration as a member of the President's Council on Competitiveness.