3 Ways Nashville’s Growing Industry Means Good Things For You

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For the past few years, the Nashville business climate has been changing. We’ve all noticed the seemingly endless number of cranes dotting the horizon creating new office space. We’ve all read the headlines of new businesses, headquarters, and start ups flocking to Music City.

So what does all this business development mean for Nashville? Is it a good a thing? Here are a few ways that Nashville’s growing industry means good things for you:

1) Say Hello to New Jobs

Perhaps the most obvious and immediate benefit to new business moving into Nashville is the creation of new jobs. Nashville as a city has invested a lot into business development in previous years and it’s been paying off. Nashville has recently won major business headquarters over other cities like, New York, Charlotte, Dallas, & San Francisco. These companies moving their headquarters to Nashville has created in influx of thousands of new jobs over the last three years. Which is essential for a city that is still averaging 90 new Nashvillians a day.

2) Diversity Is A Good Thing

Recently, Nashville has been attracting more businesses in the fields of healthcare, technology and finance. These jobs being created are highly skilled and high-paying jobs. This type of job diversity is a big deal for a hospitality-industry driven city such as Nashville. Last year, global money management firm AllianceBernstein brought over 1,000 finance jobs Nashville with the average salary for these positions between $100,000 and $200,000. Amazon is expected to create 5,000 full-time, high-paying jobs over the next three years. New career paths in technology, finance, business & healthcare will keep Nashville moving forward by making sure that we have a skilled workforce.

3) Businesses Bring the Tax Dollars

Business tax revenue is vital for a city like Nashville. It helps fund infrastructure projects (like improving I-440) and fund essential services like public works, education, and emergency services to name a few. One of Nashville’s most-highly anticipated business developments, the Amazon’s new Operations Center of Excellence slated to open in 2021, is estimated to generate incremental tax revenue of more than $1 billion over the next 10 years. That is a completely new tax revenue source for Nashville. This kind of tax revenue growth is needed to help meet the demands of a city growing as steadily as Nashville.

Nashville is changing. And change for a city like Nashville can definitely come with growing pains. But if we can remember how this influx of new business and industry can benefit our beloved city, it’s easier to be happy about all of those cranes in the Nashville skyline!