Nashville has one of the most robust economies in the country. Just how robust? For our inaugural newsletter, we've found five facts about the city that make it not only a great economy, but a great place for commercial real estate.
1. Nashville's creative
Nashville's a 2.15 on the creative vitality index, a system developed by the Western States Arts Foundation. That's fourth overall nationwide, and considerably higher than a city we're often compared with, creatively speaking: Austin, which scored 1.23. Nashville "is exemplary as a cultural hub in several ways," notes the foundation. [NBJ]
2. Nashville's a great place to live
US News & World Report ranks Nashville the No. 22 best place to live, based on quality of life and the job market in each city, as well as the value of living there and people's desire to live in a particular place. Nashville got an overall score of 6.8 out of 10, just below Dallas and just above San Antonio. [USN]
3. Wages are going up rapidly
According to the latest data from the BLS, wages in Davidson County rose 5.5% year-over-year, putting it in the top 10 counties nationwide for pay increases. Pay in Williamson County rose 5.2%, and Williamson led the country in job growth, with employment rising 6.5%. [WSJ]
4. Manufacturing has boomed
Forbes put Nashville as one of the country's 10 new manufacturing boomtowns—No. 4, in fact, with 8.9% of the jobs in Nashville-Davidson-Murfreesboro-Franklin in that sector. Nashville's manufacturing sector has grown 23.9% from 2009 to '14. [Forbes]
5. The beer's good!
Last but hardly least, Fortune magazine puts Music City on its list of 10 under-the-radar cities for beer lovers, poised to "explode among craft beer fans. Fat Bottom Brewery is expanding at a rapid pace... And other breweries, like Little Harpeth (specializing in lagers) and Black Abbey (which focuses more on Belgian beers), are gaining regional followings." [Fortune]
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