Nashville's Open for Business

It's no secret that Nashville and its surrounding metropolitan area have been growing, and this growth isn't expected to cease anytime soon.

Another?200,000 people?are projected to relocate to Nashville in the next five years.?

What is fueling this population expansion is multi-faceted, but one facet that's certainly key is the fact that Nashville ranks as an extremely favorable place to start a business.?

According to?data from WalletHub,?Nashville ranks as the 19th-best large city (population greater than 200,000, less than 1M) to start a business, based on a variety of data. (WalletHub ranked the top-100 large cities.)

And Nashville ranked fourth in Policom's?Economic Strength Rankings?released at the start of this year.

Nashville's economy has also proved to be resilient throughout recent tumultuous periods. Nashville was affected relatively less than most cities during the late-2000s recession. It rebounded extremely quickly after the initial COVID-19 pandemic economic downturn, evidenced by Nashville recently ranked number-one nationally in terms of unemployment rate. Only?3.9%?of Nashvillians were unemployed?in September of 2021, lower than the national average of 4.7%.

According to data from The Tennessean, 3,413 new businesses were established in Nashville in the first quarter of 2021 alone. And Nashville is enjoying a diverse array of new businesses. From expanding Black-owned eateries like Slim + Husky's and Rolled 4 Ever Ice Cream, to fast-growing music companies like Soundstripe and well-funded healthcare start-ups such as IVXHealth,?Nashville has seen new business growth across all industries.?

When Major League Baseball is considering the home for their next franchise, it is important that the city the team will call home checks all the boxes. With a growing population, a diverse economic landscape, and a business environment favoring businesses small and large, Nashville makes a natural home for an MLB franchise.