News 2 reports on the historic growth of Nashvilles and the growing pains that come with it. Click here for more reports on Nashville 2021.
NASHVILLE, Tennessee (WKRN) Another prestigious list is out, and Nashville is in the top ten, beating several other major cities like Denver and Seattle.
This year the Milken Institute 2021 Top Performing Cities Index ranks the Nashville subway as the eighth best performing city. The index tracks the economic performance of approximately 400 US metropolitan areas.
In 2020, Nashville was ranked 14. We’re told it’s our year-over-year job growth, five-year wage growth, and high-tech GDP growth that have helped us achieve. push us up six places in the list.
This year’s ranking focused on jobs, wages, high-tech growth, housing affordability and household broadband access.
“It’s a sign that your city is still robust in adding jobs, that it is able to overcome a number of different challenges, and what it really positions a city for is being able to keep adding no. only jobs, but also well-paying jobs, ”said Kevin Klowden, executive director of the Center for Regional Economics at the Milken Institute.
In addition, the Nashville subway has a comparatively low cost of living, and doing business and the abundance of cultural and natural amenities provide a high quality of life.
“One of the interesting things that people don’t talk about outside of Nashville is how much Nashville’s high-tech sector has grown, especially in the last few years,” Kowden said, “Although ‘it’s growing well, it’s not that diverse. , it mainly focuses on a smaller number of sectors and technology industries, which means that if there is a downturn in that particular area, it can have a disproportionate effect.
Nashvilles’ emerging tech sector provides well-paying jobs to the region, and companies are attracted by a conducive business environment, low cost of living and doing business, and a quality talent pool, as well as quality of high life and natural amenities. .
“[Nashville] This is where they can absorb new people, there are enough different jobs that people feel if something happens, they have other options, and the quality of life is good enough that they want to stay, ”Klowden said.
Klowden says the report was unable to capture the full extent of the pandemic, but it did include a job snapshot that gives us an idea.
“This suggests that what drove people to Nashville wasn’t as much of a lure or wasn’t quite able to generate as much economic activity during the pandemic, but it’s true for the most large cities. ”
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