Comparative Performance of the Nashville Area Economy Presented to the Nashville Chamber of Commerce

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Comparative Performance of the Nashville Area
EconomyPresented to the Nashville Chamber of
Commerce

• Business and Economic Research Center
• Jennings A. Jones College of Business
• Middle Tennessee State University
• January 27, 2004

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Peer Cities for Comparison

• Atlanta, GA
• Birmingham, AL
• Charlotte, NC
• Columbus, OH
• Dallas, TX
• Denver, CO

• Jacksonville, FL
• Louisville, KY
• Nashville, TN
• Orlando, FL
• Raleigh-Durham, NC
• Tampa, FL

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Characteristics - Population
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Measures for Comparison

• Relative growth of
• Employment by industry
• Labor force and unemployment rate
• Residential building permits and home prices
• Air passengers

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Method of Comparison

• Reward cities that exhibit diversified growth
• Compare quarterly changes to the average change
  for the peer group
• Each component receives equal weight

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Growth of Payroll EmploymentSecond Third
Quarter 2003
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• Results 1) Employment growth by industry

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• Results 2) Labor force and unemployment rate

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• Results 3) Housing construction and home prices

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• Results 4) Air transportation

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• Results Overall Growth Performance Ranking

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Outlook 2004
Nashville MSA recovering more quickly than the
U.S.
Year to year percent change payroll employment
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Nashville Outlook 2004

• Employment gains for manufacturing
• Housing construction slows a bit
• Modest payroll employment gains

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Business and Economic Research CenterMiddle
Tennessee State UniversityDavid Penn,
DirectorMurat Arik, Associate DirectorSally
Govan, Publications Editor
www.mtsu.edu/BERC