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1 Per Capita Real GDP By Metropolitan Area (chained<br />
2 Current Gross Metropolitan Product<br />
3<br />
2009 dollars) Source: Bureau of Economic Analysis<br />
Source: Bureau of Economic Analysis, 2013<br />
Per Capita Real GDP (chained 2009 dollars)<br />
by MSA Source: Bureau of Economic Analysis<br />
2014 Unemployment Rates by MSA<br />
Source: Bureau of Labor Statistics, 2014<br />
ECONOMY & WORKFORCE<br />
$60,000<br />
$50,000<br />
$40,000<br />
$30,000<br />
$20,000<br />
$10,000<br />
$0<br />
2005<br />
2006<br />
2007<br />
2008<br />
Nashville MSA<br />
Clarksville MSA<br />
2009<br />
2010<br />
2011<br />
2012<br />
2013<br />
Nashville MSA<br />
$100,841B<br />
Clarksville MSA<br />
$10,628B<br />
Joint Metro Region Top 5 Industries (not<br />
including government) Percent of Current GDP<br />
Source: EMSI, <strong>2015</strong><br />
Manufacturing<br />
11%<br />
Denver<br />
Indianapolis<br />
Charlotte<br />
Nashville MSA<br />
Kansas City<br />
Atlanta<br />
Austin<br />
Raleigh<br />
Louisville<br />
Memphis<br />
Tampa<br />
Clarksville<br />
Memphis<br />
Atlanta<br />
Tampa<br />
Charlotte<br />
Louisville<br />
Indianapolis<br />
Kansas City<br />
Nashville<br />
Raleigh<br />
Denver<br />
Austin<br />
7.6<br />
6.8<br />
6.1<br />
6<br />
5.9<br />
5.7<br />
5.6<br />
5.2<br />
4.9<br />
4.8<br />
4.2<br />
1<br />
3<br />
2<br />
Key Takeaway: Since the Great Recession, the Nashville<br />
region has posted strong gains in productivity, job growth<br />
and employment, outpacing many competitor peers and<br />
other counties in Tennessee. Specifically:<br />
Between 2005 and 2013, per capita real GDP has grown 3 percent<br />
in the Nashville MSA and 1 percent in the Clarksville MSA.<br />
Compared to peers, the Nashville MSA leads all but three peer<br />
competitors (Denver, Indianapolis and Charlotte).<br />
The Nashville MSA has a gross metropolitan product of<br />
$100,841B placing the region in approximately the top third of<br />
the 100 leading metros in the country.<br />
4<br />
2010-<strong>2015</strong> Percentage Change in Business<br />
Establishments by County Source: EMSI, <strong>2015</strong><br />
Davidson<br />
Williamson<br />
Rutherford<br />
Sumner<br />
Montgomery<br />
Robertson<br />
Maury<br />
Wilson<br />
Dickson<br />
Hickman<br />
Christian<br />
Smith<br />
Macon<br />
Cheatham<br />
Trigg<br />
Cannon<br />
Trousdale<br />
39,142<br />
24,945<br />
23,200<br />
9,785<br />
5,686<br />
5,391<br />
4,480<br />
3,048<br />
2,781<br />
888<br />
677<br />
675<br />
418<br />
300<br />
184<br />
68<br />
26<br />
0%<br />
5% 10% 15% 20% 25% 30%<br />
Joint Metro Region Employment Change by Industry, 2010-<strong>2015</strong><br />
Source: EMSI, <strong>2015</strong><br />
Health care and social assistance<br />
Nashville-Clarksville Joint Region Employment<br />
(2005-<strong>2015</strong>) Source: EMSI, <strong>2015</strong><br />
120,000<br />
110,000<br />
100,000<br />
90,000<br />
80,000<br />
Finance and insurance<br />
Real estate and rental and leasing<br />
Professional, scientific and technical<br />
8%<br />
7%<br />
7%<br />
6%<br />
2.7%<br />
1.2%<br />
-0.2%<br />
-4.5%<br />
0.2%<br />
2.1%<br />
2.7%<br />
2.7%<br />
2.8%<br />
2.8%<br />
2005<br />
2006<br />
2007<br />
2008<br />
2009<br />
2010<br />
2011<br />
2012<br />
2013<br />
2014<br />
<strong>2015</strong><br />
$0<br />
$20K<br />
5<br />
$40K $60K $80K<br />
2010-<strong>2015</strong> % change in<br />
employment by MSA<br />
Source: EMSI, <strong>2015</strong><br />
Austin<br />
Raleigh<br />
Denver<br />
Charlotte<br />
Nashville MSA<br />
Atlanta<br />
Louisville<br />
Indianapolis<br />
Tampa<br />
Kansas City<br />
Memphis<br />
17.8%<br />
15.9%<br />
15.6%<br />
15.1%<br />
14.7%<br />
12.8%<br />
12.1%<br />
10.8%<br />
10.1%<br />
8.4%<br />
4.1%<br />
Labor Force Participation Rate by Age<br />
Source: U.S. Census Bureau, 1-year estimates, 2013<br />
250,000<br />
200,000<br />
150,000<br />
100,000<br />
50,000<br />
0<br />
47%<br />
42%<br />
16-19<br />
83%<br />
70%<br />
20-21<br />
81%<br />
80%<br />
22-24<br />
77%<br />
85%<br />
25-29<br />
76%<br />
87%<br />
30-34<br />
79%<br />
82%<br />
35-44<br />
73%<br />
81%<br />
45-54<br />
68%<br />
72%<br />
55-59<br />
59%<br />
61%<br />
60-61<br />
Nashville MSA<br />
Clarksville MSA<br />
48%<br />
52%<br />
62-64<br />
22%<br />
35%<br />
65-69<br />
15%<br />
18%<br />
70-74<br />
6%<br />
7%<br />
75+<br />
4<br />
5<br />
6<br />
7<br />
Between 2010 and <strong>2015</strong>, the joint Nashville-Clarksville region saw<br />
an average of 14 percent growth in business establishments.<br />
The Nashville MSA outpaces six out of 10 competitor peers with<br />
regard to change in employment over the last five years.<br />
At 5.1 percent unemployment, the Nashville MSA experienced<br />
unemployment levels below both the state (5.7 percent) and<br />
national (5.3 percent) averages for June <strong>2015</strong>. That month, seven<br />
of the 10 lowest unemployment rates in the state were in Middle<br />
Tennessee counties: Williamson, Davidson, Sumner, Wilson,<br />
Rutherford, Robertson and Cheatham.<br />
Accommodation and food services<br />
Manufacturing<br />
Administrative and support and waste management remediation services<br />
Health care and social assistance<br />
Professional, scientific and technical services<br />
Transportation and warehousing<br />
Retail trade<br />
Construction<br />
Management of companies and enterprises<br />
Finance and insurance<br />
Wholesale trade<br />
Real estate and rental and leasing<br />
Other services (except public administration)<br />
Arts, entertainment and recreation<br />
Information<br />
26%<br />
25%<br />
29%<br />
13%<br />
32%<br />
36%<br />
9%<br />
19%<br />
49%<br />
13%<br />
14%<br />
26%<br />
5%<br />
15%<br />
7%<br />
-8% Educational services<br />
-4% Government<br />
6<br />
Clarksville<br />
Current unemployment rates (June <strong>2015</strong>)<br />
Nashville MSA: 5.1% (48,530 people)<br />
Clarksville MSA: 6.4% (7,125 people)<br />
5.8%<br />
7<br />
12%<br />
10%<br />
8%<br />
6%<br />
4%<br />
2%<br />
0%<br />
Historical Unemployment Rate Source: Bureau of Labor Statistics, <strong>2015</strong><br />
2005<br />
2006<br />
2007<br />
2008<br />
2009<br />
2010<br />
Nashville MSA<br />
Clarksville MSA<br />
2011<br />
2012<br />
2013<br />
2014<br />
<strong>2015</strong><br />
-10,000<br />
-5,000 0 5,000 10,000 15,000 20,000
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