Stories of Technology, Innovation, & Entrepreneurship in the Southeast

Knoxville Business News Tennessee Mountain Scenery Background
April 06, 2022 | Tom Ballard

Nashville ranks highest among nine cities in Heartland Forward’s “Most Dynamic Metropolitan” regions

Chattanooga and Knoxville place second and third among Tennessee metros.

The latest edition of Heartland Forward’s “Most Dynamic Metropolitan” (MDM) regions report was just released last week, and three Tennessee cities are fairly highly ranked among 380 across the country.

The highest-ranked city is fast-growing Nashville at #45 nationally. Other Tennessee cities that made the list were Chattanooga (#124),  Knoxville (#155), Johnson City (#224), Jackson (#234), Kingsport-Bristol (#239), Morristown (#284), Memphis (#350), and Cleveland (#359).

Heartland Forward is a Bentonville, AR-based think tank that was launched in October 2019 with significant backing by the Walton family of Walmart fame. In explaining how it arrived at the rankings, the organization wrote: “Our index is based on capturing recent employment growth, wage growth, and GDP (gross domestic product) growth, as well as two entrepreneurship metrics (the density of young business activity within the overall economy and density of well-educated workers within the workforce employed by these young businesses) and the average income, which reflects previous productivity gains. We are also interested in determining which metros have improved over past years.”

Who placed at the top of the list? It was three smaller communities: Midland, TX, WildwoodThe Villages, FL, and Bozeman, MT that ranked as the top three most dynamic metropolitans. The report, now in its sixth year, provides a benchmark for identifying growth areas across the country by measuring where American communities are thriving and showcasing the strategies these communities are using effectively.

“These leading metros demonstrate how strategic investments in AI, advanced manufacturing, tourism, and energy can create dynamic economic growth and resilient communities. We celebrate the mayors and economic development teams whose hard work is reflected in the rankings,” said Ross DeVol, Chief Executive Officer and Chair of Heartland Forward. “We hope government leaders will continue to use the lessons of this report to make smart, long-term decisions around economic growth.”

The MDM ranks metropolitan areas using key indicators of economic vitality, including employment growth, average annual pay, real gross domestic product, entrepreneurial activity, and educational attainment. Metrics are categorized to evaluate both short-term (2022-2023) and medium-term (2018-2023) economic trends. Using multiple data points, the MDM is a valuable tool for U.S. mayors and economic development departments to evaluate their policies and identify best practices for growth, development, and community health.

“The Nashville-Davidson-Murfreesboro-Franklin metro is a central hub of economic activity in Tennessee strengthened by its reputation as a center for the healthcare, biotech, and entertainment industries,” the report noted. “A contributor to this dynamism is Vanderbilt University, a historic institution located in Nashville. In 2023, Vanderbilt and its Medical Center had a combined R&D expenditure of more than $1 billion, 24th highest in the nation. Vanderbilt’s Medical Center is one of the largest employers in the state of Tennessee and crucial to the economic functioning of the Nashville metro. It addresses the public health needs by contributing $952 million to the local community and other benefits during fiscal year 2023. This investment helps boost the medium-term employment and real GDP growth and supports a high quality of life for the region.”



Like what you've read?

Forward to a friend!

Don’t Miss Out on the Southeast’s Latest Entrepreneurial, Business, & Tech News!

Sign-up to get the Teknovation Newsletter in your inbox each morning!

  • This field is for validation purposes and should be left unchanged.


No, thanks!