Nashville’s Livability is an Economic Development Asset

According to a recent blog on BusinessClimate.com, “People are drawn to places where they can visualize themselves living and working and doing it better than anywhere else.” Livability is a factor with the power to either make or break a region, its companies and their employees. So what makes Nashville such a great region for a relocating talent and businesses? Three key reasons are Nashville’s talent attraction, anchor points and quality of life.

The skyline view of Downtown Nashville from Love Circle, the most beautiful street in Nashville according to Angela Wright of The Lipman Group Sotheby's International Realty.

As Music City, Nashville naturally attracts the creative class that includes musicians and performers. Because the Nashville area’s economy is among the most diverse of that in any U.S. region, the region also continues to attract high-quality workers in all business sectors. Nashville supports many innovative and aggressive local programs to recruit workers to Middle Tennessee. Chamber-led workforce initiatives include programming targeted to young professionals, support of public education and higher education, the InternNashville program, an interactive CD-ROM, partnerships to support HR professionals and targeted industry worker attraction and retention.

According to BusinessClimate.com’s blog, “The more hospitals, colleges and universities in a city, the better the workforce and the higher the level of innovation and business development due to research and technology initiatives.” Nashville’s health care industry has a huge national and international impact. It impacts the economy each year by bringing in $30 billion and creating 210,000 jobs. Aside from health care, Nashville has numerous higher-education institutions. Nashville boasts 18 colleges and universities, and 100,000 college students. Sixty percent of the annual graduates remain in Nashville, and these educated workers help form the backbone of our workforce.

Quality of life is a primary reason so many relocate to Nashville. (As we write this, it is 54 degrees and sunny in January.) The region features all four seasons, and the average temperature ranges from 49 in the winter, to 89 in the summer time. To take advantage of beautiful days, people can flock to Nashville’s 92 public parks, 69 miles of greenways, six state and national parks, two recreational lakes, 56 public and private golf courses and many other recreational places. More nationally recognized is Nashville’s art scene. The thirst for good music is easily quenched with Nashville’s 124 performance venues, 79 live music houses, 49 performing arts halls, and more than 120,000 seats in a wide array of entertainment space. Nashville has its own opera, ballet, symphony, children’s theater, art galleries and almost anything someone could want in the arts. As for sports, Nashville is home to two major-league teams: the NFL’s Tennessee Titans and the NHL’s Nashville Predators.

Talent development and quality of place/livability are key strategic drivers of the Chamber’s Partnership 2020 economic development strategy. The amenities of our great city attract people – which, in turn, attracts strong companies and creates an ideal environment for businesses to grow and prosper.

If you or someone you know is planning on relocating to Nashville, click here to refer to our relocation guide courtesy of Kelli Corbin Hudson, Relocation Director of The Lipman Group Sotheby’s International Realty.

Source: Nashville Area Chamber of Commerce blog

Middle Tennessee’s Blueprint for Prosperity: An Economic Development Scorecard

At a recent Nashville Area Chamber of Commerce meeting, the region’s economic development “scorecard” for the July 1, 2010-June 30, 2011 fiscal year was announced.

So how did Nashville stack up in the past year?

In this graph, you’ll see that the Nashville-area economy continued to gain momentum in the past 12 months. In year-over-year gains, 2010-2011 gives clear indication that we’re bouncing back to growth levels in job and labor force performance not seen in several years. People are returning to the workforce as job opportunities are increasing. And employment gains from the start of 2011 have exhibited the best sustained result in five years.

Middle Tennessee Economic Development - Workforce Percentage Change

More good news – Middle Tennessee is attracting jobs and job growth through expansions and relocations. From July 1, 2010 through June 30, 2011, the Nashville region has logged a total of 103 announced relocations and expansions, adding 7,321 new jobs, nearly $1.7 billion in capital investment, and 5.8 million square feet of space to be occupied by these growing firms.

Click here for a video presentation and more details from the meeting from Nashville Chamber blogger, Janet Miller.

Nashville is on Forbes’ list of Top U.S. Boom Towns in 2011

Nashville is on Forbes' list of Top Ten Boom Towns in 2011

Nashville is on Forbes' list of Top Ten Boom Towns in 2011

The country music capital, with its low housing prices and pro-business environment, has experienced rapid growth in educated migrants, where it ranks an impressive fourth in terms of percentage growth. New ethnic groups, such as Latinos and Asians, have doubled in size over the past decade.

A high quality of life, a vibrant cultural and music scene and a diverse population also make Nashville a desirable place to live.

Want the full list from the story about Boom Towns from Forbes?

  1. Austin, Texas
  2. Raleigh, North Carolina
  3. Nashville, Tennessee
  4. San Antonio, Texas
  5. Houston, Texas
  6. Washington, D.C.
  7. Dallas, Texas
  8. Charlotte, North Carolina