Nashville was named the second best place in the U.S. to start a new business according to SmartAdvisor research. Nashville sees only 1% of businesses close due to finances, tied for the third-lowest rate in SmartAdvisor's study. The city also has the second-highest percentage of all businesses receiving a business loan from a bank or financial institution - at approximately 20% - and the third highest percentage of businesses receiving at least $100,000 from a bank or financial institution, at a little more than 17%.
Personal finance site MagnifyMoney identified "America's biggest boomtowns" by analyzing how the largest 100 metro areas in the country changed over a five-year period (between 2011 and 2016) across three categories: population and housing; workforce and earnings; and business growth. Nashville was named #5 on the list, with workforce growth and business growth ranking highest of the three categories.
Nashville #7 Large Metro Gaining the Most Young Professionals
During the past decade, talent has become the most important driver of economic vibrancy. Having a growing pool of talent is especially important in an era when labor is scarce and more difficult to attract. Nashville was ranked as the #7 large metro gaining the most young professionals (ages 25-34) based on 2018 U.S. Census Bureau data. Nashville was previously ranked #37 in 2017.
Clarksville, TN was named the #1 Best Place to Live in 2019 by MONEY magazine. Clarksville was recognized for its affordability, attractiveness for millennials, and presence of military members given its close proximity to Fort Campbell. Four other Tennessee cities made the Top 100 list including Bellevue coming in at #31, Cordova coming in at #61 and Johnson City at #80.
Nashville Named Among Top 25 Best State Capitals to Live In
SmartAsset ranked cities cities based on median income after housing costs, unemployment rate, dining and entertainment rate, violent crime rate and property crime rate. Nashville was ranked #17, being one of only four Southern cities to make the Top 25 list.
Nashville Named #3 Best City for Young Professionals
SmartAsset ranked cities based on nine metrics that encompassed both economic and livability factors relevant to young professionals including cost of living, entertainment, job diversity and income, along with the unemployment rate for those between 25 and 34. Nashville was previously ranked #20 in the 2018 study, but climbed to the top of the rankings due to a $16,000 increase in median earnings from 2016-2017.
Nashville #1 in Metropolitan Economic Strength Rankings
Metropolitan Statistical Areas (MSA) have at least one urbanized area of 50,000 or more population, plus adjacent territory that has a high degree of social and economic integration with the core as measured by the location of the commuting workforce.
Nashville best place to live in Tennessee, 15th best in the US
Each year, U.S. News & World Report analyzes data from the United States Census Bureau, the Federal Bureau of Investigation, the Department of Labor and their own internal resources to determine the best places to live in the United States. The ranking metrics include the job market, affordability, quality of life, desirability and net migration of 125 metro areas. In 2019, Nashville was named number 15 on the list of best places to live in the U.S. (and the 7th best place to retire).
INC names Nashville #4 Best Place to Start a Business in America
"An abundance of hospital chains in the country music mecca has made it famous for something else: a new wave of health startups." Nashville earned the number 4 spot based on the rate of entrepreneurship, high-growth company density, population growth, net business creation and wage growth in the Nashville Metro area.
Tennessee ranked #1 in South Central United States for regional workforce development
Tennessee ranked number one for our region based on the following criteria: (1) CNBC’s America’s Top States for Business 2018 Workforce and Education sub-ranking; (2) Forbes’ Best States for Business 2018 Labor Supply sub-ranking; (3) U.S. News’ 2018 Best States for Education rankings; (4) ACT National Career Readiness Certificates (NCRC) Rankings; and (5) average number of workforce development enactments passed in state legislatures (most recent data).
Recently released data from the U.S. Bureau of Labor Statistics illuminates which large metros have the fastest growing economies. Growth is measured by the percentage change in employment between the annual average of 2016 and 2017. Among large metros, the highest growth is found in Nashville (3.5%).
This ranking, based on work-life balance, employee relationships, work environment, average compensation, opportunities for career advancement, company culture and resources, places Nashville in the top 20 happiest cities to work in.
#7 on Forbes' list of Top 25 Fastest-Growing Cities of 2018
Nashville has jumped significantly from number 20 on the 2017 list. "The goal of Forbes’ annual list of America’s fastest-growing cities is to give a holistic picture of places on the upswing. That means looking not just at job, population or output growth individually, but considering how these important measures and others come together. It means looking back to see which cities grew the most in 2017 and forward to project which cities will make strides in 2018," says Forbes.
The Nashville Sounds are a big tourist draw to the region. Their on-field success, the game-day experience and Nashville's quality of life in general all combined to make it the top minor league baseball town according to SmartAsset. First Tennessee Park is a great place to watch baseball, or just hang out at the BandBox.
Nashville is #6 City for Young Professionals
SmartAsset recently released a study on the best cities for young professionals based on unemployment and labor force participation rates of young adults, median rent, number of fun establishments, job diversity, median earnings for full-time workers and rent as a percent of income. Nashville ranked #6 thanks to our job market, reputation for fun and low unemployment rate for young professionals. Young people can get engaged in Nashville by connecting with YP Nashville, our young professional organization.