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New Ranking Reinforces Nashville's Economic Strength

by Janet Miller | Jun 30, 2011
Yesterday, we were excited to see a great new honor for our city, with the release of a Forbes article naming Nashville the sixth-best U.S. city for business and careers.

To determine the ranking, Forbes considered metrics such as cost of doing business, projected economic growth, educational attainment, income growth, projected job growth and net in-migration for the 200 largest metropolitan statistical areas in the U.S. Additional factors included quality-of-life issues such as crime rate and cultural and recreational opportunities. Knoxville, the only other Tennessee city included in the ranking, came in at No. 26.

Of course, we love seeing Nashville get national accolades. But this ranking was also gratifying because it further reinforces the strength of the regional approach we have taken to growing jobs and our economy over the past 20 years. All of the factors used to determine this ranking align closely with the goals of Partnership 2020, a new five-year economic development strategy that takes effect July 1. P2020 marks the newest phase of this regional, strategic, public-private initiative that was initially implemented in 1990.

Over the next five years, you will see the implementation of P2020 through the development of the strategic goals established by the Chamber and the region’s business and community leaders. The P2020 strategy capitalizes on Middle Tennessee's strongest opportunities, addresses challenges and improves the region’s overall competitiveness.

As Middle Tennessee works toward continued prosperity, you can expect more aggressive business recruitment, the growth of companies already in the region, and the startup of new businesses. P2020 will also continue a focus on recruiting and retaining talent, improving K-12 education and aligning higher education with the workforce needs of the future. In addition, the plan will emphasize maintaining and enhancing the Nashville area’s quality of place and life. Finally, the goal of effective regionalism will broaden our economic development efforts to include support of transportation solutions, regional planning and collaboration on legislative agendas. These efforts all ultimately lead to the creation of more jobs for our region.

As P2020 is implemented, the entire region will benefit. With community support of this plan, our business climate can remain competitive, and Middle Tennessee will be the best possible place to live, work and grow a business.