Economic Competitiveness
Downtown Clarksville, Montgomery County
Overview
Downtown Clarksville, Montgomery County
With a healthy economic blend of government, music, health care and other top industries, the Middle Tennessee Region features one of the most dynamic economies and lifestyles in the nation. Our economic and demographic strengths have landed the Nashville region on dozens of “top places” lists in previous years.
Why It Matters
Ensuring our region’s long-term economic competitiveness is a goal shared by leaders across our region as one of our shared Six Issues of Regional Importance. We know that our ten-county Middle Tennessee Region is the essential building block for our long-term economic competitiveness, livability and sustainability. In the global economy, it is our ten-county region that is competing for new growth and better jobs, not individual communities within them. In the evolving global marketplace, regional thinking and action are necessary in our approaches to economic development, land use and infrastructure planning, creation of a diversified transportation network, conservation of our land and natural resources and support for regional amenities such as our airport, sports and entertainment, retail, tourism, and cultural activities.
Economic Competitiveness
Progress
Thinking and acting regionally as a competitive force in the global market has become an accepted mindset through visionary leadership among our region’s lead groups like, the Middle Tennessee’s Mayor’s Caucus, the Nashville Area Chamber of Commerce’s Partnership 2020, Leadership Middle Tennessee, the Transit Alliance of Middle Tennessee, and Cumberland Region Tomorrow. Our region is well positioned with strong leadership and needed organizational capacity to support our shared goals and actions. We are demonstrating our ability to work collaboratively to maximize our regional leadership networks, expertise, and agency resources.
At the local level Cumberland Region Tomorrow believes that Middle Tennessee’s
tremendous quality of life is one of the biggest factor that has created and will sustain our long-term economic vitality. In economic terms, our quality places are our region’s differentiated product that consistently commands a higher value in the marketplace.
We also believe that our region can maintain and improve our unique communities and beautiful landscapes that are the basis for this product, and accommodate the rapid growth forecasted. If we continue to collaborate to decide where and how we should develop, and begin to think and act regionally, then our region can guide growth to ensure our future livability and economic vitality for generations to come.
Nashville Area Chamber of Commerce Partnership 2020
As part of the Nashville Area Chamber of Commerce mission to—create economic prosperity—the Nashville Chamber focuses on economic development in the Nashville region through the Partnership 2020 initiative. This nationally recognized program is Middle Tennessee’s leading economic development initiative for retaining, expanding, businesses to Nashville region.
Leadership Middle Tennessee
Leadership Middle Tennessee (LMT) is a regional leadership institute. Founded in 1999 as a result of the Regional Partnerships initiative of Partnership 2000-led by the Nashville Area Chamber of Commerce. The initiative was founded in 1994 in direct response to the “lack of a regional agenda” as identified in the Partnership 2000 agenda. LMT serves the ten-county region including Cheatham, Davidson, Dickson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson, and Wilson counties.
Middle Tennessee Mayors Caucus
The Middle Tennessee Mayors Caucus was formed in July of 2009 to provide leadership on important issues facing a rapidly changing regional landscape. Transportation, and particularly the pursuit of a modern mass transit system, served as the early catalyst, but in its brief history the Caucus has served as an effective forum for building personal relationships among Mayors and has helped local governments support each other on issues ranging from flood recovery to proposed state legislation.
The purpose of the Mayors Caucus is to foster communication and coordination among cities and counties across Middle Tennessee; advocate public policies beneficial to cities and counties, and the region as a whole; promote a positive image of the region as a place to live, work, and play; cultivate and maintain a strong and engaged civic culture; and strengthen vital partnerships with the business community to ensure economic prosperity.
Other Partners
Tennessee Department of Economic and Community Development
Middle Tennessee Industrial Development Association
Transit Alliance of Middle Tennessee
Economic Competitiveness
Data
- 8 of the 10 counties in the region experienced more than 30% employment growth between 1990-2010
Source: Nashville Area Chamber Research and Statistics - Almost every county in the region doubled their Per capita income between 1990 and 2010
Source: Nashville Area Chamber Research and Statistics - Our region accounts for over 30 % of the Tennessee’s GDP
Source: Nashville Area Chamber Research and Statistics - 55% of all new jobs in the region were created outside of Davidson County
Source: Nashville Area Chamber Research and Statistics
Nashville No. 12 in 10-year job growth
Nashville Business Journal, February 8, 2012
The Nashville area may have fewer jobs today than it did before the recession, but Music City still has fared better than most U.S. cities over the last decade.
According to an analysis of federal data by Business Journal affiliate On Numbers, Nashville has added a total 33,900 private-sector jobs over the last 10 years — the 12th highest growth in the country. The new jobs represent a 5.63 percent increase in Nashville’s total jobs, the 24th highest rate in the country.
Mixed Housing moves forward in Franklin
- In Economy, Land Use, Williamson
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The Tennessean, February, 20 2012
Developers at Bristol Development will host a design industry reception to showcase a preview of Bell Historic Franklin, the city’s newest rental community. The $27 million Bell Historic Franklin apartment project on Liberty Pike is a 218-unit complex that is the first apartment project in Franklin’s downtown area in 30 years. Construction is under way on the project.
Council seeks ways to fill empty retail space
Following a controversial proposal that sought to bring more tax revenue to the City of Lebanon through a major project dubbed the Cumberland Center, council members expressed a desire to invest in pre-existing development that is either vacant or could be put to a better use. “We had this project come up with the event center [Cumberland Center] and talking about holding taxes to build up for this center. When you drive around, we’ve got vacant [buildings] throughout the city,” Huddleston said. “When you look at this side, it is a ghost town.” Huddleston said that they should look at “filling up what we’ve got” before advancing the city. Councilmember Warmath also expressed concern about the lack of investment in existing retail centers. Warmath and Huddleston want to look into improving the occupancy of existing retail space before looking to build more retail.
Smart Growth America Spotlights Columbia’s James Campbell Blvd. Plan
- In Economy, Land Use, Maury, Transportation
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Smart Growth America, February 9, 2012
The heart of Columbia, Tennessee lies along a highway and commercial corridor; the James Campbell Boulevard. It was built at the city’s peak when demand was high for retail space and office buildings, but in the past several decades the needs of the City have changed. With the third slowest growth rate in the state of Tennessee, Columbia is in decline. It has the highest unemployment rate of any city of its size in the state and 20 percent of the population living below the poverty line. Not only has Columbia failed to attract new residents, with more and more families choosing to settle in neighboring Middle Tennessee cities, but the city is losing the young millennial generation, that many recognize as key to attracting local investments and maintaining a vibrant economy.
Read More»Business is Good in Nashville
Nashville Area Chamber of Commerce, February 01, 2012
Just before Thanksgiving 1997, I pulled into South Nashville with a U-Haul, $300 and an appointment with a temp staffing company. My dream was to be an event planner in the music industry. Eight months later, I was hired as an event coordinator for the Nashville Area Chamber of Commerce. I found opportunity. I found community. I found that my dream could be played out in the context of something bigger and more important than me alone.
Read More»Nashville’s Livability is an Economic Development Asset
Nashville Area Chamber of Commerce, January 26, 2012
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.
Read More»Business park gets boost
The Tennessean, February 1, 2012
The Robertson County Commission has approved a $1 million bond for the county’s Industrial Development Board to speed its efforts in creating a joint business park with Cheatham County on Maxey Road off Interstate 24.
The project represents a massive undertaking of collaboration between the two counties as they seek to work with three utility districts and over 30 landowners. County officials have stressed that the project is designed to bring major economic impact to the region and efforts will be made to implement high quality growth standards and design to the development.
Brookings Global MetroMonitor Ranks Nashville 89th in International Metro Economy
Nashville Business Journal January 18, 2012
The Brookings Institute has released a ranking of the economic vitality, or lack thereof, of the world’s 200 largest metropolitan areas, with Nashville in the 89th position, finishing ahead of Memphis and peer region Charlotte. The only American city to break into the top 20 was Houston at 19. Brookings titles the work Global MetroMonitor 2011: Volatility, Growth, and Recovery. The interactive map demonstrates overall rankings, income growth, employment growth, and industrial structure for major metros across the globe.
James Fenton Comments on Effects of Economic Developement
Ashland City Times January 10, 2012
Cheatham County Economic and Community Development Director, James Fenton discusses the importance of economic development and quality growth. Fenton goes on to define economic development as a way of:
West Nashville Neighborhoods Expect Continued Growth
- In Davidson, Economy, Land Use, Transportation
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The Tennessean takes a look at growth and development for West Nashville neighborhoods in 2012, and the parking and transportation issues that follow. Many neighborhoods in West Nashville are seeing growth despite a down economy due to more college students and young professionals moving back towards the city. However, the growth has also caused parking and traffic issues that will need to be addressed down the road.
Here are things to look out for in some the more popular neighborhoods in West Nashville.
Read More»
Air and Water Quantity and Quality
Infrastructure
Land Use/ Quality Growth/ Sustainable Development
Open Space Conservation
Transportation / Transit
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