Economic Development
Diverse Economy
Cost of living
Your money goes further in Nashville than in most cities in America and throughout the world.
3 major factors working in your favor when it comes to how far your dollar goes:
NO PERSONAL INCOME TAX
NO PERSONAL INCOME TAX ON EARNINGS IN TENNESSEE. This saves the average relocating family between 3% and 10% of your income – or a savings of $3,000 to $10,000 more for every $100,000 you earn.
LOW COST OF LIVING
COST OF LIVING IS BELOW THE U.S. AVERAGE 96.6 ON A SCALE OF 100.
20.5% HIGHER INCOME
PER CAPITA INCOME IN NASHVILLE IS 5% HIGHER THAN THE U.S. AVERAGE.
Source: CRER Cost of Living Index, Q2, 2021, US Bureau of Economic Analysis (BEA)
Tax Burden Comparisons
Estimated Burdens of Major Taxes for a Family earning $75,000/year.
Source: District of Columbia, Department of Finance, Tax Rates and Tax Burdens In DC – A Nationwide Comparison Report, 2019
Accessibility
Thanks to Nashville’s central location, flight offerings and interstate system, you can get there (anywhere!) from here.
One of the key reasons Nashville has become such a hotbed of job growth in America is a simple case of geography.
542
average flights per day
75%
of the US market is within a 2-hour flight
97
non-stop flight destinations
8 miles
Nashville international airport is only 8 miles from downtown
Year-round
nonstop international service to Cancun, London, Montreal, Toronto, Edmonton, and Calgary
Three
major interstates intersect here: I-40, I-24 & I-65
Within a 650-mile radius of 65% of the U.S. population
Weekend road trips from Nashville
Job Growth
Nashville continues to draw talented professionals as careeer opportunities grow.
The 10-county Nashville region is home to more than two million people and 50,000 businesses with the city attracting thousands of new businesses and people every day. Nashville is a hub for healthcare, finance, manufacturing, music and technology. Many corporate headquarter giants call Nashville home including Nissan North America, Bridgestone Americas, Dollar General, HCA Healthcare, AllianceBernstein, iHeartMedia, Mitsubishi Motors, The ICEE Company, and Amazon.
On average, the Nashville region gained 76 net new people per day between 2019 and 2020.
Nashville is a startup haven
Source: Bureau of Labor Statistics, State and Area Current Employment Statistics, 2018-2019 Annual Averages
