The Nashville Economy Tops Region In Jobs Created Since 12/07
An Atlanta Federal Reserve Board blog post yesterday is something about which Nashvillians can be thankful. The good news is in a study about employment change since December 2007 within 65 cities of the 6th FRB District (AL, FL, and GA, and portions of LA, MS, and TN).
Cleveland, TN, tops the list on a percentage basis but the net job change is more interesting to me: Nashville tops the net job change list with 46,300 new jobs and that is nearly seven times as many as number 2, Lafayette, LA, with 6,700 new jobs. Cleveland no doubt benefited from the Volkswagen plant recently build in Chattanooga. Clarksville, TN, saw a 6% job increase driven largely by military base “adjustments”. Nashville’s economy benefits from the success of our neighbours in Clarksville and Chattanooga.
Of the sixty-five cities listed in the study, only eleven (one out of six!) showed positive job growth during the period. Remarkably, Atlanta lost 53,200 jobs during the period landing dead last in terms of absolute number of jobs created. You can read more from the study here.
The Nashville economy has received nationally recognition for it’s diverse business base including healthcare, national food service chains, printing, publishing, entertainment, biotechnology, manufacturing, distribution, and finance. Nashville enjoys 21 accredited and nationally recognized higher educational institutions including Vanderbilt, Belmont, Middle Tennessee State University, Lipscomb, Trevecca, Meharry Medical, and Fisk University. With 3 interstate highways passing through Nashville, a major rail yard and an international airport, we have an excellent transportation infrastructure. The Nashville economy is generating increasing visibility in the rest of the world with Nissan’s US headquarters located here, as is the Consulate-General of Japan, and the global banking giant UBS is investing $36 million to expand operations in Nashville.
This diversity of resources and our international reach all suggest a bright future for the local economy here in “Nash Vegas”.