July 8, 2026
CONTACT:
Ben Hill
615.253.1811
Ben.Hill@tnsos.gov
NASHVILLE, Tenn. – New business filings in the 1st quarter of 2026 were the highest for a first quarter in the 33-year history of the data, according to the new Quarterly Business and Economic Indicators report issued by Secretary of State Tre Hargett’s office. Tennessee also set an all-time record for annual reports filed in the quarter, showing that business resilience and creation
remain exceptionally strong.
“Our state leaders work diligently to offer a welcoming business environment that supports jobs and opportunities,” said Secretary Hargett. “Tennessee’s recipe of lower taxes, light regulations, and responsible fiscal management is why people from across the country continue to move here.”
During the first quarter, 24,852 new entities filed in Tennessee, a 20.6% year-over-year increase. A high level of business filings typically leads to jobs, personal income, and state revenue growth. 241,706 entities filed annual reports in the quarter, a huge 30.4% year-over-year increase. Over the last 12 months, there were 84,893 new entity filings and 373,992 annual reports.
Davidson and Knox counties saw the largest number of filings in the third quarter, followed by Shelby and Hamilton counties. These four most-populous counties accounted for 42.6% of new filings statewide and grew collectively by 20.1%. Tennessee’s other 91 counties grew even faster
with year-over-year growth of 21%.
The report also includes a feature on Tennessee’s population growth that increased nearly 64,000 in 2025 to reach 7.32 million people. Net domestic migration (people moving to Tennessee from other U.S. states minus people moving out of Tennessee) was the primary driver, but net international migration and natural growth (births minus deaths) also contributed.
Although Tennessee’s growth has returned to pre-pandemic norms, it remains strong. Tennessee had the 4th largest net domestic migration in the nation in 2025, and the 5th largest as a share of its population. Davidson County saw the largest increase, and 81 of the state’s 95 counties gained population.
“The entrepreneurial spirit in Tennessee really shines through in this record-breaking level of both new entity and annual report filings,” said Dr. Don Bruce, Director of the Boyd Center for Business and Economic Research. “It shows that our state continues to be a hot spot for new businesses, which, in turn, creates more jobs and a stronger tax base—all good things to increase
the quality of life for Tennesseans.”
This report provides a snapshot of the state’s economy based on key indicators, including new business data from the Secretary of State’s Division of Business and Charitable Organizations. It is published through a partnership with the University of Tennessee Knoxville’s Boyd Center for Business and Economic Research and the Secretary of State.
To review the complete Q1 2026 Tennessee Quarterly Business and Economic Indicators report and past reports, visit sos.tn.gov.
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