“There are a number of things to attribute the growth to, including low taxes and a lifestyle that cannot be matched,” Rhonda Rice, the Knoxville Chamber’s executive vice president said.
Knoxville, TN (PRWEB) April 05, 2012
Pointing at the region’s strong local economy, low tax rate, and low crime, CNN Money named the Knoxville-Oak Ridge Innovation Valley among the top 10 fastest growing communities in the United States.
The Knoxville area grew 33.1 percent from 2000-2010 and according to the CNN Money, Knoxville is the 8th fastest growing community in the nation. There are now more than 550,000 residents in the immediate Knoxville area.
“There are a number of things to attribute the growth to, including low taxes and a lifestyle that cannot be matched,” Rhonda Rice, the Knoxville Chamber’s executive vice president said. “But ultimately it comes down to jobs. That’s our primary focus and we believe the reason people are coming to call the Innovation Valley home.”
Knoxville currently enjoys the best economic outlook in the nation; according to the staffing firm Manpower Group. The survey found 25 percent of employers in the region plan to hire additional employees this spring. Currently, Knox County enjoys Tennessee’s second lowest unemployment rate of 6.1%, according to the Tennessee’s Department of Labor and Workforce Development.
Positioned within hours of major metropolitan areas like New York City, Washington, D.C., and Atlanta, Knoxville’s transportation assets also play a key role in its growth. A pair of interstates run through the Innovation Valley, complemented by ample rail lines, and access to river barges. It’s helped establish a strong presence in the automotive supplier industry and green job sector. In fact, the Brookings Institute recently named Knoxville the top spot in the country for green jobs.
CNN Money also credited the region’s low cost of living with playing a role in region’s growth.
“The cost of living is also low -- about 80% of the national average -- as is crime. There are also good public schools and plenty to do outdoors with nearby mountains, fishing streams and lakes,” Les Christie, of CNN Money wrote.
To see the CNN Money story head to: http://money.cnn.com/galleries/2012/real_estate/1204/gallery.US-Cities/8.html