Davidson sees unemployment rate unchanged at 4.9%

County continues to sport lowest mark of Tennessee's Big Four
Aug 27, 2015 2:02 PM

State unemployment remains unchanged at 5.7%

Tennessee’s unemployment rate for July was 5.7 percent, unchanged from the June revised rate, Tennessee Department of Labor and Workforce Development Commissioner Burns Phillips announced today.

Prior to July, the state enjoyed five consecutive months of unemployment rate declines.

July 2014 to July 2015, Tennessee's unemployment rate decreased from 6.6 percent to 5.7 percent, while the national rate declined from 6.2 percent to 5.3 percent during the same period.

There was an increase of 1,300 non-farm jobs from June to July, with the largest increases occurring in leisure/hospitality, manufacturing, and wholesale trade.

Year over year, non-farm employment has added 52,500 jobs. The largest increases occurred in trade/transportation/utilities, leisure/hospitality, and professional/business services.

Aug 20, 2015 2:27 PM

French supply chain company to acquire OHL

Deal with Geodis reportedly for $800M
Aug 17, 2015 11:01 AM

Nashville ranks No. 9 among event meetings destination cities

Virginia-based meetings management software company Cvent has ranked Nashville No. 9 in its recently released 2015 Top 50 U.S. Meeting Destinations list.

Orlando ranks No. 1.

Austin and Charlotte, two cities to which Nashville is often compared, rank 17th and 25th, respectively.

For the ranking, the fourth annual, of top destinations for meeting planners, Cvent evaluated more than 5,000 cities. It ranked them based on meeting and event booking activity in the Cvent Supplier Network.

See the list here.

Founded in 1999 and with about 1,450 employees, the publicly traded Cvent produces a 8,000-page free online travel guide targeting meeting planners and providing information regarding about 800 destinations.

Aug 12, 2015 7:20 AM

Nashville No. 34 in large city livability ranking

Personal finance website WalletHub has ranked Nashville No. 34 on its Best and Worst Large Cities to Live In list.

The online entity considered 31 metrics in categories such as general livability, healthiness, educational systems, economic growth and tax rates. WalletHub ranked 62 cities with a population of 300,000 or more.

Austin ranks No. 1,  with Raleigh No. 2. Memphis ranks No. 61.

See the ranking here.

Aug 5, 2015 8:30 AM

Lipscomb initiative lands Gates Foundation grant

Leadership Tennessee, an education-related initiative of Lipscomb University’s Nelson & Sue Andrews Institute for Civic Leadership, has received a $750,000 grant from the Bill & Melinda Gates Foundation.

The grant (the money is to be disbursed spanning a three-year period) will be used to expand the program’s offerings, scope and impact on Tennessee, according to a release.

Launched in February 2013, Leadership Tennessee is designed to cultivate a statewide network of business, nonprofit, education and government leaders.

“To be chosen as the recipient of this grant gives Lipscomb a unique opportunity to partner with an organization that is having a profound impact in the lives of billions around the globe by funding initiatives that identify needs and drive change,” L. Randolph Lowry, LU president, said in the release. “This grant is affirmation from a highly respected organization, which believes strongly in the importance of education, that Leadership Tennessee is a valuable program that is making a difference in our state and its individual communities. It is also a reflection of many people in the Lipscomb community who have worked very hard over the last several years to engage the larger community through a number of programs.”

Aug 4, 2015 7:05 AM

Nashville, Memphis rank high on 'Business Facilities' lists

Tennessee’s two most prominent cities fare well in the recently released Business Facilities11 Annual Rankings Report: Metro and Global Rankings.

The publication has ranked Nashville the nation’s No. 1 city for economic growth potential and No. 8 among “tech job leaders.”

In addition, the publication (read the rankings here) ranks Memphis No. 10 as a tech job leader and No. 1 in the nation and No. 2 in the world (behind Hong Kong) as a logistic leader.

From the text:

What sets the Nashville area apart as one of the strongest, most vibrant economies in the U.S.? Its obvious distinct advantages include an ideal geographic location in the heart of the U.S. population base; a skilled workforce fueled by 100,000 college students in the region; operating costs and cost of living almost 10 percent below the U.S. average (Nashville’s cost of doing business is 88.5 percent of the national average); and a quality of life whose tone is set by being one of the top centers in the world for the creative class.

But the Music City is much more than that: Nashville has become a world-class healthcare hub.

Nashville is home to a diverse health care cluster with leaders in a number of industry niches that impact the health care landscape locally, nationally and internationally. The Nashville health care industry contributes an overall economic benefit of nearly $30 billion and more than 200,000 jobs to the local economy annually. Globally, Nashville’s health care industry generates more than $70 billion in revenue and more than 400,000 jobs.

As to Memphis being a logistics power, Business Facilities writes this:

As the global cargo hub for FedEx, Memphis International Airport remains the busiest air cargo airport for tonnage in the country and second busiest in the world behind only Hong Kong.

Companies enjoy immediate access to all four modes of transportation within 20 miles of Memphis International Airport: I-40 is the third-busiest trucking corridor in the United States; one of three major interstates in Memphis; Memphis is home to five Class I railroads (BNSF, CSX, Union Pacific, Norfolk Southern and Canadian National); and The Port of Memphis is the fourth largest inland port in the U.S.

More than 10 percent of Memphis’ workforce is employed in transportation, warehousing and utilities, the highest share among the top 100 MSAs in the U.S.

Read the full breakdown here.



Aug 3, 2015 7:15 AM

Davidson sees unemployment rate rise to 4.9%

County continues to sport lowest mark of Tennessee's Big Four
Jul 23, 2015 2:20 PM

National Seating & Mobility leases Birmingham space

National Seating & Mobility has signed a lease for space in a Birmingham industrial building, the Birmingham Business Journal reports.

The Franklin-based company, which specializes in custom mobility, rehab and adaptive seating, will take 9,500 square feet in the building, the address for which is 115 45th Place N.

The lease (read more here) follows National Seating & Mobility’s announcement in May that it had opened branches in New Redding, California, and Cleveland.

Relatedly, the company in July 2014 named William Mixon as CEO (read more here).

Jul 21, 2015 12:30 PM

RealtyTrac: Tennessee sees nation's 10th-highest foreclosure rate

Tennessee had the 10th-highest foreclosure rates in the first half of 2015, according a news release from research firm RealtyTrac.

The median sales price of a foreclosure home in the state was $76,600, or 45 percent lower than the median sales price of non-distressed homes. The overall national foreclosure rate for the first half of 2015 was at a 10-year low.

In June, the number of Tennessee properties that received a foreclosure filing in Tennessee was 63 percent lower than the mark of the previous month and 250 percent higher than the number from the same time last year.

RealtyTrac foreclosure date can be viewed here.

Jul 17, 2015 2:17 PM