Hagerty is a life-long businessman. He started his business career with the Boston Consulting Group, where his work took him to five continents, including three years based in Tokyo, Japan. He later became a venture capital and private equity investor where he invested in and served as an executive and board member of a wide range of companies, including ones listed on the New York Stock Exchange and NASDAQ. From 2011 to 2014, Hagerty took leave from his business career to serve as a member of the Governor's Cabinet and Commissioner of the Tennessee Department of Economic and Community Development. During his tenure as commissioner, Hagerty reorganized the department, eliminating over 40 percent of the positions and saving millions of taxpayer dollars. At the same time, the new approach helped spur the strongest economic transformation seen - taking Tennessee from an unemployment rate higher than the national average when he arrived to become the number one state in the nation for jobs created through foreign investment and being named State of the Year for Economic Development an unprecedented two years in a row during his tenure.

Hagerty, an Eagle Scout, is originally from Sumner County, Tennessee. Today, he and his wife Chrissy are both active volunteers in several community and civic organizations, and live in Davidson County, Tennessee. They are the parents of four children.