New Report Shows Tennessee Economy Continues To Grow

Thursday, May 21, 2015


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The number of new entity fillings and annual reports in Tennessee grew during the first quarter of 2015. The state recorded 8,685 new entity filings between January and March 2015, representing a 9.3% increase compared to the same time last year, according to a new economic report. On a year-over-year basis, new entity filings have increased 14 consecutive quarters.

The Tennessee Quarterly Business and Economic Indicators report is created to provide a periodical snapshot of the state’s economy based on a variety of information, including new business data from the Division of Business Services. It’s published through a partnership with Secretary of State Tre Hargett and the University of Tennessee Knoxville’s Center for Business and Economic Research.

“Every quarter we see the state’s economy continue to grow,” said Secretary Hargett. "Tennesseans should remain positive about our state's economy, and the encouraging data shows why businesses continue to choose Tennessee.”

Davidson County led the way with 1,509 new filings. Shelby County was a close second with 1,195 filings.

The report shows Tennessee’s economy had slow, but steady growth during the first quarter of 2015, while the U.S. economy experienced sluggish growth.

Tennessee’s unemployment rate fell to 6.3% in March, compared to 6.6% in February. That is still well above the national unemployment rate of 5.5%, yet below the state’s rate of 6.4% a year ago.