New study projects GDP growth across Tennessee
The Greater Nashville region ranks #7 nationally, while Knoxville comes in second at #53.
A new study from the Kenan Institute of Private Enterprise at the University of North Carolina at Chapel Hill shows that the greater Nashville-Davidson County region is ranked as the seventh fastest-growing economic region in the country with a projected 2.6 percent growth in its gross domestic product.
The Institute looked at 150 Extended Metropolitan Areas (EMAs), which are described as U.S. urban areas connected in economically meaningful ways. “While our 150 EMAs don’t capture the complete national economic picture, they get pretty close, as they represent 84 percent of the U.S. population and 88 percent of national GDP,” the authors write.
How do the other regions in Tennessee rank?
- Clarksville ranked #37 with a GDP growth rate of 1.7 percent;
- Knoxville, including Morristown and Sevierville, was next, ranking #53 with a 1.5 percent growth rate;
- Northeast Tennessee – Bristol, Johnson City, and Kingsport – came in at #76 with a 1.2 percent GDP increase;
- Chattanooga, Cleveland, and Dalton, GA placed #104 with a 1.0 percent growth rate; and
- Memphis was #147 nationally at a growth rate of .1 percent.