Why Nashville will continue strong growth in the years ahead | Opinion
I’ve spent most of my life in the Nashville area. As a second-generation Nashville business owner, I’ve seen a lot of change — from our skyline to our population — and I applaud it.
The more we grow and bring in new industries with different people and perspectives, the stronger we get. I expect 2022 to be another great year for Nashville.
The makeup of our economy is changing rapidly. Historically, the healthcare and music industries have been important drivers of our economy, but the influx of TechIntoNashville is shaking things up.
The growth of Nashville's tech industry
In the past few years, several notable tech companies have announced plans to invest in Nashville and make our city a key market: Amazon, Oracle and Facebook are just a few. These additions strengthen our economy by providing more jobs opportunities.
Earlier this year, TODAY named Nashville as one of the top 10 cities to live in after the pandemic — citing a great job market, high quality of life and low cost of living. We will continue to see young, smart and skilled workers moving to or deciding to stay in Music City to pursue their careers.
People are already moving to the area at a rapid rate. According to the 2020 Census, Davidson County’s population increased nearly 15% in the last 10 years, equating to one new resident every hour.
Populations in the Nashville metro area also saw some growth — including 35% in Williamson County and 30% in Rutherford County. The Greater Nashville area is home to nearly two million people now.
TODAY also noted a diverse community of innovators working together to provide support and resources at the Nashville Entrepreneur Center (NEC). Entrepreneurship in this city is at an all-time high.
The NEC reports that entrepreneurial companies made up 23% of Nashville’s economy in 2020. I’ve had a chance to see the level of entrepreneurial spirit up close throughout my life and as a member of EO Nashville.
The opportunities here to incubate and launch your business, along with the support system by your side, is unlike any other environment in the country.
Nashville's thriving economy
As the country’s economy continues to rebound from the pandemic, Nashville’s never really stopped. It’s proof of our city’s resiliency and strong business climate, which is nothing new.
Tennessee ranks amongst the top five states with the best business climate in Business Facilities’ annual state rankings report for the last five years— landing the top spot in 2019 for the third time in the report’s history.
Your state. Your stories. Support more reporting like this.
A subscription gives you unlimited access to stories across Tennessee that make a difference in your life and the lives of those around you. Click here to become a subscriber.
Tennessee continues to attract world-class businesses to the state, many of which are establishing a presence in the Nashville metro area. They’re drawn to our diverse economy, low cost of living and good taxes.
Nashville is truly becoming a city. It’s no longer a place that’s controlled by a certain group of people. It's now more of a cosmopolitan city with new people, ideas and ways of seeing things, which is naturally more conducive to a stronger economy.
Nashvillians are naturally welcoming with open arms and a will to help, priming businesses, entrepreneurs or anyone else with a dream to do very well here. It doesn’t matter where you come from or where you’ve been— you’ll find a place for you in Nashville.
Bowman Richards is the owner and president of the oldest and most trusted name in shredding and destruction services in the city, Richards & Richards Secure Shredding located in Nashville, Tennessee.
This article originally appeared on Nashville Tennessean: Nashville economic outlook: The future looks strong for Music City
