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NASHVILLE REGIONAL ECONOMIC DEVELOPMENT GUIDE

TABLE OF CONTENTS Location

4-6

Economy

7-9

Accessibility & Transportation

10 - 11

International Business

12 - 15

Demographics

16 - 17

Talent & Workforce

18 - 25

Target Industries

26 - 27

Corporate Services

28 - 30

Information Technology

31 - 33

Health Care Management

36 - 37

Music & Entertainment

38 - 39

Advanced Manufacturing

40 - 41

Distribution & Trade

42 - 43

Livability

44 - 48

Partnership Investors

49 - 50

2 - TA B L E O F CON TE N TS

TA B L E O F CO N T EN T S - 3

LOCATION NASHVILLE Strategically located in the heart of the Tennessee Valley, the Nashville region is where businesses thrive, and the entrepreneurial spirit resonates across industries and communities. The Nashville Economic Market encompasses 10 counties and a population of more than 2 million, making it the largest metro area in a five-state region. Many corporate headquarter giants call Nashville home, including Nissan North America, Bridgestone Americas, Mitsubishi Motors North America, Alliance Bernstein, and iHeartMedia. A national hub for the creative class, Nashville has the largest concentration of the music industry per capita in the United States. The Nashville region’s educated workforce not only provides an abundant talent pool for companies, but it also bolsters the region’s vibrancy, artistic and musical essence, and competitive edge in technology and innovation. The Nashville region is defined by a diverse economy, low cost of living and doing business, and a well-educated population. Cultural diversity, unique neighborhoods, a variety of industries and a thriving creative community make Middle Tennessee among the nation’s best locations for relocating, expanding and startup companies.

Clarksville

Portland

Springfield White Robertson House

Montgomery

Sumner Gallatin

Goodlettsville

Cheatham

Hendersonville

Ashland City

Charlotte

Davidson

Dickson

Mt. Juliet

Lebanon

Wilson

Nashville

Dickson Brentwood

La Vergne Smyrna

Fairview

Williamson Franklin

Rutherford Murfreesboro

Spring Hill

Maury

Columbia

Mount Pleasant

4 - L O C ATION

POPULATION GROWTH & TOP EMPLOYERS NASHVILLE ECONOMIC MARKET* 2015: 1,934,547 2020: 2,104,069

CHEATHAM 2015: 39,597 2020: 41,101

TENNESSEE 2015: 6,595,354 2020: 6,886,834

+8.8%

DAVIDSON +3.8%

2015: 680,397 2020: 694,176

+4.4%

DICKSON +2.0%

2015: 51,357 2020: 54,376

+5.9%

TOP EMPLOYERS A.O. Smith Water Products Arcosa Marine Caymas Boats

TOP EMPLOYERS Vanderbilt University Medical Center HCA Healthcare Vanderbilt University

TOP EMPLOYERS Tennsco Corporation Nemak Dal-Tile

MAURY

MONTGOMERY

ROBERTSON

2015: 192,749 2020: 214,251

2015: 68,709 2020: 72,275

2015: 87,547 2020: 99,590

+13.8%

TOP EMPLOYERS GM Spring Hill Manufacturing Maury Regional Medical Center Tennessee Farm Bureau

The Nashville region’s job growth has been in the top 5% of all metro areas in the country over the last 5-year period. Sources: Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2020 (2020 Population Estimates), 2020 Book of Lists, Regional Chambers of Commerce

* The Nashville Economic Market is comprised of the ten counties included on this page.

+11.2%

+5.2%

TOP EMPLOYERS Tennova Healthcare Trane Company Agero

TOP EMPLOYERS Electrolux Home Products Macy’s Logistics Lowes DFC

RUTHERFORD

SUMNER

2015: 298,401 2020: 339,261

2015: 175,467 2020: 195,561

+13.7%

TOP EMPLOYERS Nissan North America Ingram Content Group Saint Thomas Health

TOP EMPLOYERS Gap Inc. ABC Technologies Xtend Healthcare

WILLIAMSON

WILSON

2015: 211,713 2020: 245,348

2015: 128,610 2020: 148,130

+15.9%

TOP EMPLOYERS Randstad Community Health Systems, Inc. HCA Healthcare, Inc.

+11.5%

+15.2%

TOP EMPLOYERS Amazon - Lebanon CEVA Logistics Cracker Barrel Old Country Store Inc. L O CAT I O N - 5

U.S. POPULATION AROUND NASHVILLE MORE THAN HALF OF THE NATION’S POPULATION RESIDES WITHIN 650 MILES OF NASHVILLE

NASHVILLE

Population per square mile by county 0 - 24 25 - 49 50 - 99 100 - 499 500 - 999 1,000+

6 - L O C ATION

ECONOMY ECONOMIC DRIVERS The Nashville region’s economy continues to be a key driver of business activity in Tennessee and the southeast region. The area benefits from a diverse economy. With a balance of health care, technology, corporate operations, manufacturing and supply chain management, Nashville is one of the country’s most attractive growth centers. It has ranked within the top 10 large metros for job growth and population growth rate for the past nine years. The region experiences low unemployment, steady in-migration, and a favorable business climate, making it a top location for companies looking to relocate or expand their business.

HEALTH CARE MANAGEMENT 167,916

DIRECT JOBS

328,598 DIRECT & INDIRECT JOBS

$67 BILLION

ANNUAL ECONOMIC IMPACT

MUSIC & ENTERTAINMENT 41,153

DIRECT JOBS

80,757 DIRECT & INDIRECT JOBS

$15.6 BILLION

ANNUAL ECONOMIC IMPACT

MANUFACTURING 86,425

DIRECT JOBS

326,613 DIRECT & INDIRECT JOBS

$69.7 BILLION

ANNUAL ECONOMIC IMPACT

TOURISM & HOSPITALITY 74,440

DIRECT JOBS

$7.5 BILLION

ANNUAL ECONOMIC IMPACT

Sources: Healthcare Council Economic Impact Study, 2019; Nashville Area Chamber of Commerce 2020 Music Industry Report; Nashville Area Chamber of Commerce Research Center, 2020; Nashville Convention & Visitors Corp., 2019

ECO N O MY - 7

52,975 BUSINESS ESTABLISHMENTS (NASHVILLE MSA) Manufacturing (1,951) Information (1,857) Arts, Entertainment and Recreation (1,574) Transportation and Warehousing (1,436) Educational Services (693) Management of Companies and Enterprises (568) Agriculture, Forestry, Fishing and Hunting (136) Utilities (46) Unclassified (40) Mining, Quarrying, and Oil and Gas Extraction (38)

Professional, Scientific and Technical Services (7,231) Retail Trade (6,275) Other Services (except Public Administration) (5,109) Health Care and Social Assistance (4,436) Accommodation and Food Services (4,412) Construction (4,160) Wholesale Trade (4,066) Administrative Support, Waste Management and Remediation Services (3,388) Finance and Insurance (3,338) Real Estate and Rental and Leasing (2,221)

TOP REGIONAL EMPLOYERS *National, regional or division headquarters

Source: BLS QCEW 2020

LOCAL EMPLOYEES

TOP REGIONAL EMPLOYERS *National, regional or division headquarters

LOCAL EMPLOYEES

24,039

Deloitte

11,000

1,730

Nissan North America*

Austin Peay State University*

10,600

1,653

HCA Healthcare Inc.*

AdvancedHEALTH

9,107

1,579

Vanderbilt University*

UBS Nashville Business Solution Center

Saint Thomas Health*

8,335

1,532

Gap Inc.*

4,550

1,523

Randstad

Ford Motor Credit Co LLC

4,400

1,500

Asurion*

Envision Healthcare Corp.*

4,000

1,500

Amazon

Tractor Supply Co.*

Community Health Systems Inc.*

3,925

1,434

Schneider Electric

3,800

1,415

General Motors Bridgestone Americas Inc.*

3,430

Electrolux Home Products North America

3,400

Cracker Barrel Old Country Store Inc.*

3,389

National Healthcare Corp.

3,028

Shoney’s Inc.*

3,000

Walgreens

2,715

Dollar General Corp.*

2,671

Gaylord Opryland Resort & Convention Center*

2,500

A.O. Smith Corp.

2,327

AT&T Inc.

2,250

SmileDirectClub*

2,118

GEODIS

2,045

Middle Tennessee State University*

2,044

Ingram Content Group Inc.*

1,981

UnitedHealthcare

1,980

Tyson Food Inc.

1,961

Brookdale Senior Living Inc.*

1,903

CEVA Logistics

1,876

LifePoint Health*

1,866

Dell Technologies

1,800

2021 RANKING

HCA Healthcare

Dollar General

Community Health Systems

259

Tractor Supply

291

Delek US Holdings

397

Brookdale Senior Living

665

Acadia Healthcare

709

Louisiana-Pacific

787

Cracker Barrel Old Country Store

833

CoreCivic

982

Surgery Partners

996

Source: Fortune, 2021

Source: 2020 Book of Lists; Reference USA, 2020

8 - E CON O M Y

FORTUNE 500 / 1000 COMPANIES HEADQUARTERED IN THE NASHVILLE REGION

Source: 2020 Book of Lists; Reference USA, 2020

Vanderbilt University Medical Center*

UNPRECEDENTED GROWTH

Franchise tax

0.25%

Sales tax rate

7% state (2.25- 2.75% Local) Yes

State labor force

3,289,426

Regional labor force

1,070,473

Cost-of-living index

13 3 48 (3rd lowest) 7.0% per capita tax burden. 96.6

Average Class A office lease rate

$34.52

Average marketwide office lease rate

$28.64

Average lease rate - industrial

$8.21

COUNTY

PROPERTY TAX RATES*

Cheatham

$2.47660

Davidson

United States

13.9%

State and local per capita tax burden ranking

Tennessee

#15/200

8.8%

CEO magazine business climate ranking

Nashville MSA

17.2%

CNBC state business friendliness ranking

KEY ECONOMIC INDICATORS

18.1%

Job Growth

8.1%

United States

19.1%

Right-to-work state

7.5%

Tennessee

8.4%

Personal income tax rate

6.9%

Nashville MSA

6.50%

6.5%

Corporate income tax rate

UNEMPLOYMENT RATE (2020)

31.2%

CORPORATE BUSINESS CLIMATE

40.8%

DOING BUSINESS

General Services District - $2.95300 Urban Service District - $3.28800

Dickson

$2.35000

Maury

$2.23640

Montgomery

$2.99000

Robertson

$2.57590

Rutherford

$2.21940

Sumner

$2.26200

Williamson

$2.22000

Wilson

$2.51890

*Rates per $100 of assessed value. Cities may assess additional property tax on top of listed county rates. Property taxes are assessed at the following assessment ratios: Residential and farm real property = 25% Commercial and industrial real property = 40% Commercial and industrial personal property = 30% Source: TN Comptroller of the Treasury and Metro Government of Nashville & Davidson, 2021

POPULATION GROWTH

2010-2020

GDP GROWTH

2010-2020

JOB GROWTH

2010-2020

PER CAPITA INCOME (2020) $60,680 $50,547

NASHVILLE MSA

TENNESSEE

$52,800

UNITED STATES

Sources: BLS Labor Force Statistics from the Current Population Survey, 2020 Annual Average; BLS Local Area Unemployment Statistics, 2020 Annual Average; U.S. Census Bureau, Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2020 (2020 Population Estimates); BEA, Real GDP in Chained Dollars 2010, 2019,2020; BLS Quarterly Census of Employment and Wages, Annual Estimates 2010-2020; BEA National Income and Product Accounts, Current Dollars, 2020; BEA SAINC1, Current Dollars, 2020; BEA CAINC1, Current Dollars, 2019. ECO ECO NO NMY O MY - 9- 9

ACCESSIBILITY & TRANSPORTATION The Nashville region is centrally located within the United States providing a competitive advantage to businesses that locate here. The location and expansive modes of transportation allow manufacturing and logistics businesses to reach U.S. and international locations with ease and affordability. Tennessee shares a border with eight states, providing connectivity to the southeast region and beyond.

12 MILLION PEOPLE

75% OF THE U.S. MARKET

2-DAY

THREE MAJOR INTERSTATES

LIVE WITHIN A 3-HOUR DRIVE

TRUCKING DISTANCE

1 0 - A C C E S S IBILITY & TR AN S PO RTAT IO N

IS WITHIN A 2-HOUR FLIGHT

CONVERGE IN NASHVILLE

AIR

ROAD

RAIL

WATER

TRANSIT

Nashville International Airport (BNA) is located only eight miles from downtown.

Nashville is one of only six U.S. cities at the convergence of three major interstate highways – I-40, I-65, and I-24.

CSX Transportation has two major rail yards in Nashville, as well as an Intermodal terminal, TDSI automatic distribution terminal and TRANSFLO terminal. Nashville is CSX’s division headquarters.

Nashville is located on the Cumberland River, a ninefoot navigation channel accessible to Ohio River, Mississippi River and Gulf of Mexico.

WeGo intercity bus system.

The airport averages 516 daily flights and provides service to more than 18 million passengers annually. BNA is served by 14 carriers with flights to more than 88 non-stop destinations. The 28th busiest airport in the US. in 2020.

The 440 Parkway, downtown loop, and Briley Parkway link the urbanized areas; Route 840 connects four counties in an outer loop. 140 freight carriers and 150 truck terminals.

Music City Star suburban rail. Nashville B-cycle bike-share system. Rideshare and motorized scooter services.

Goods can travel on rail to Memphis, then to Canada or from Nashville directly to the Port of Savannah.

A C C E SSIB IL ITY & TRAN S P O RTAT I O N - 1 1

INTERNATIONAL BUSINESS

The Nashville region is one of America’s most dynamic centers for business growth, offering a welcoming place for international companies to expand and grow their operations. Centrally located in the southeastern United States, 75% of the U.S. market is within a 2-hour flight and 12 million people live within a 3-hour drive. Nashville is home to a diverse mix of global brands making the region their U.S. base of operations for manufacturing, corporate operations, sales, distribution, R&D and more. Some of the corporations calling Nashville home include Nissan North America, Bridgestone Americas, Mitsubishi Motors North America, Hankook Tire Co., Schneider Electric, UBS, Magna, Caterpillar Financial Services Corporation, HCA Healthcare and Amazon. It is easy to see the diversity present in every aspect of Music City. No city of similar size offers an environment with as much potential for international trade and investment. NISSAN, BRIDGESTONE, DENSO PLUS 70 OTHER JAPANESE-OWNED COMPANIES HAVE OPERATIONS IN THE NASHVILLE REGION, MAKING

ON AVERAGE,

20%

OF NEW JOB ANNOUNCEMENTS ARE CREATED THROUGH FOREIGN DIRECT INVESTMENT.

OVER 340

FOREIGN-OWNED

COMPANY LOCATIONS REPRESENTING 26 COUNTRIES EMPLOY MORE THAN

57,192 PEOPLE

JAPAN OUR LARGEST FDI NATION.

THE CONSULATE GENERAL OF JAPAN IN NASHVILLE PROVIDES CONSULAR SERVICES TO THE GROWING POPULATION OF JAPANESE NATIONALS IN THE MIDSOUTH.

IN OUR REGION.

STATEWIDE FDI TOTALS NISSAN NORTH AMERICA In 1980, Nissan North America chose the Nashville region for its first North American automotive assembly facility; the largest facility ever built by a foreign manufacturer in the U.S. at that time. In 2005, Nissan announced it would move its North American headquarters from California to the Nashville region. Today, Nissan employs 11,000 people in the Nashville region. 12 1 2 - I N T E RN ATION AL BUS IN E SS

DAILY DIRECT AIR SERVICE TO TORONTO AND LONDON.

TOTAL

TENNESSEE GOODS

EXPORTED AROUND THE WORLD IN 2020

$28.1 BILLION

$40.7 BILLION

AND SUSTAINS OVER

157,000 JOBS. CERT, 2020

NASHVILLE’S SISTER CITIES: Belfast, Northern Ireland Caen, France Chengdu, China Edmonton, Canada Kamakura, Japan Magdeburg, Germany Mendoza, Argentina Taiyuan, China Tamworth, Australia

FOREIGN DIRECT INVESTMENT IN THE NASHVILLE REGION

LOCATIONS

EMPLOYEES

Japan

22,038

France

4,748

Ireland

3,500

Canada

3,399

United Kingdom

3,397

NASHVILLE MSA EXPORT PRODUCTS (2020)

EXPORTS

Transportation Equipment

$1.8 billion

Computer and Electronics Products

$1.7 billion

Chemicals

$0.6 billion

Electrical Equipment,

$0.5 billion

Machinery

$0.3 billion

Total

$6.6 billion

TOP EXPORT PARTNERS (2020)

EXPORTS

Canada

$2.0 billion

Mexico

$1.0 billion

Hong Kong

$0.5 billion

EVERY YEAR.

China

$0.4 billion

(2010-2020)

Japan

$0.3 billion

SME’S ACCOUNT FOR

81%

OF NASHVILLE GOODS EXPORTERS. (2019)

ON AVERAGE,

3,642 PEOPLE FROM ABROAD MOVED TO

NASHVILLE

Sources: International Trade Administration of the US Department of Commerce, 2020 annual data

WAS THE

46TH LARGEST EXPORTER AMONG US METRO AREAS.

“Smart considered a number of cities and states when searching locations for our US Headquarters. Given we would be recruiting people from across the country, it was vital we select a city where we could draw people to work and live. Nashville’s central location, cost of living, vibrant community and depth of talent in technology and financial services led us to quickly move it to the top of our list. Our experience working with the economic development teams at the Tennessee Department of Economic & Community Development, TVA and the Chamber was beyond compare and sealed the deal on establishing Smart’s presence in Nashville. We truly felt valued and that we were building a partnership with the city and state.” - Jodan Ledford, Smart US, Chief Executive Officer INTE R NATI O N AL B US I N ES S - 1 3

NASHVILLE’S FOREIGN INVESTMENT HIGHLIGHTS

1960 THE TRANE COMPANY IRELAND

TRIDON CANADA

1970

WILSON SPORTING GOODS

TOSHIBA AMERICA CONSUMER PRODUCTS

FINLAND

TEKSID ALUMINUM

JAPAN

1980

MAHLE FILTER SYSTEMS NORTH AMERICA, INC GERMANY

ITALY

ALCOA FUJIKURA

NEMAK MEXICO

BRIDGESTONE AMERICAS, INC NISSAN MOTOR MANUFACTORING SONY MUSIC UNIPRES USA, INC.

SQUARE D FRANCE

JAPAN

FEINTOOL, INC SWITZERLAND

PERMOBIL SWEDEN

WILLIS NORTH AMERICA, INC FIBERWEB, INC 1 4 - I N T E RN ATION AL BUS IN E SS

U.K.

1990

FLORIM, USA ITALY

CINRAM SITEL

CANADA

2000

WIRTGEN AMERICA GERMANY

NISSAN NORTH AMERICA CONSULATE-GENERAL OF JAPAN RICOH BUSINESS SOLUTIONS SEKISUI PLASTICS TACLE SEATING TOPRE AMERICA CORP.

AKZO NOBEL NETHERLANDS

PRATT INDUSTRIES USA AUSTRALIA

JAPAN

ELECTROLUX HOME PRODUCTS

QUANTA COMPUTERS WEI-CHUAN USA, INC

SWEDEN

TAIWAN

2010

EMBRAER BRAZIL

CARLEX GLASS AMERICA, LLC DAIEI AMERICA IB-TECH KYOWA AMERICA

SAMICK MUSIC CORPORATION SOUTH KOREA

VALEO ALLIANCEBERNSTEIN MERSEN FRANCE

MEDACTA UBS

JAPAN

SWITZERLAND

NHK SEATING OF AMERICA

ATHENE-SCE MARTINELLI ETTORE BERETTA UST

MAPLEHURST BAKERIES

ITALY

CANADA

KHS AMERICA TAIWAN

TRIANGLE TIRE SINOMAX USA AMERICAN WONDER PORCELAIN CHINA

MOBILE MENTOR NEW ZEALAND

HANKOOK TIRE LG ELECTRONICS ATLASBX

ACCENTURE TO IRELAND

SOUTH KOREA

GLOBAL SHARES

IRELAND

PHILIPS

NETHERLANDS

MITSUBISHI MOTORS NORTH AMERICA NTT DATA JAPAN

2020

SMART PENSION WOODS AIR MOVEMENT U.K.

PANTOS USA

SOUTH KOREA INTE R NATI O N AL B US I N ES S - 1 5

DEMOGRAPHICS NASHVILLE MSA US Census, ACS 2019 1 Year Estimates

AGE

RACE/ETHNICITY White (76.7%) Black or African American (15.2%)

26.6%

25.6%

Hispanic or Latino (7.6%)

21.9%

20.7%

Asian (3%) Two or more races (2.5%) American Indian & Alaska Native (0.2%)

5.2% 0- 19

20-3 4

35-54

55-74

Native Hawaiian & Other Pacific Islander (0.1%)

75+

FOREIGN-BORN POPULATION BY WORLD REGION OF BIRTH

12.9%

Africa

30.4%

Asia Europe

9.6% 44.2%

Latin America Northern America

1.9%

EDUCATIONAL ATTAINMENT AGE 25 YEARS AND OLDER

Graduate / professional degree (13.7%) Bachelor’s degree (24.9%)

HOUSEHOLD INCOME & SIZE Average household size: 2.7 people

Median household income: $70,262 21.9%

$0 - $34,999

Associate’s degree (7.2%) Some college, no degree (19.4%) High school graduate (25.4%) No diploma, 9th - 12th (6.0%) No diploma, less than 9th (3.5%) Source: US Census, ACS 2019 1 Year Estimates 1 6 - D E M O G R AP HICS

31.4%

$35,000 - $74,999

30.9%

$75,000 - $149,999 $150,000 +

15.8%

NASHVILLE MSA TOTAL POPULATION : 1,961,232

THE NASHVILLE REGION GAINED 76 NET NEW PEOPLE PER DAY ON AVERAGE BETWEEN 2019 AND 2020.

IN THE NASHVILLE REGION, 27,777 RESIDENTS HAVE BEEN ADDED SINCE 2019. 2019

76 NEW PEOPLE PER DAY

27,777 RESIDENTS ADDED

POPULATION PROJECTIONS PREDICT THAT MORE THAN 2.5 MILLION WILL LIVE IN THE NASHVILLE AREA BY 2040. 1,961,232

2020 CENSUS

2,526,823

2040 PREDICTION

WITH THE RAPID INFLUX OF RESIDENTS, NASHVILLE HAS BEEN A TOP 10 METRO FOR POPULATION GROWTH FOR THE PAST SEVEN YEARS. 19.0% POPULATION INCREASE SINCE 2010.

1,961,232 1,934,317

+1.4%

1,904,726 1,841,294 1,768,350

1,650,831

1,674,534

2011

+1.6%

+1.8%

1,804,671

+2.0%

+2.1%

1,703,609

+1.9%

+1.8%

+1.7%

+1.4%

2010

1,735,012

+1.6%

1,874,515

2012

2013

2014

2015

2016

2017

2018

2019

2020

Sources: : Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2020 (2020 Population Estimates); Boyd Center for Business and Economic Research, University of Tennessee, Knoxville D EMO G RAP H I CS - 1 7

TALENT & WORKFORCE Photo courtesy of Vanderbilt University

Middle Tennessee is a magnet for talent, young graduates, and the types of workers new and growing industries seek. Considered a national hub for the creative class, the Nashville region’s educated workforce provides an abundant talent pool for companies. This workforce bolsters the region’s vibrancy, artistic and musical essence, and competitive edge in technology and innovation. The Nashville region supports many innovative and aggressive local programs to recruit workers to the region. Many of Nashville’s most valuable workers come from the area’s vast educational system with its 20 accredited four-year, twoyear, tech schools and postgraduate institutions. Nearly 123,000 students are enrolled in higher education in the Nashville region, the largest concentration in a four-state region. The Nashville region retains 60 percent of these graduates annually. Thirty eight percent of residents over age 25 have a bachelor’s degree or higher, and 179,304 residents have graduate or professional degrees.

“At Tractor Supply, the keys to our success are our Team Members whose passion, talent and dedication support our business. The Nashville region provides us with access to a robust and engaged workforce that has helped us grow, while also being advantageous to us to attract talent. Nashville has a lot going for it with a great quality of life for our Team Members. We are honored to call it home.” -Hal Lawton, Tractor Supply, President and CEO

1,961,232

1,070,473

TOTAL POPULATION

TOTAL LABOR FORCE

LABOR FORCE BY SECTOR

1 8 - TA L E N T & WOR KFOR CE

Service-Producing

87.1%

Professional and Business Services

17.3%

Educational and Health Service

15.1%

Goods-Producing

12.9%

Government

12.0%

Leisure and Hospitality

9.3%

Financial Activities

7.0%

Other Services

3.9%

Information

2.5%

68.6%

LABOR PARTICIPATION RATE

Source: BLS CES, March 2021; ACS 2019 1-Year Estimates; ACS 2019 5-Year Estimates; BLS Local Area Unemployment Statistics, 2020 Annual Average; Annual Estimates of the Resident Population: April 1, 2010 to July 1, 2020; 2020 Population Estimates

REGIONAL COMMUTING PATTERNS

Christian Trigg

Montgomery

Number of workers commuting 30,000+ 20,000 - 29,999

Robertson

Macon

Sumner

Trousdale

Cheatham

Smith Davidson Nashville

Dickson

Wilson

5,000 - 19,999 1,000 - 4,999 Williamson Hickman

Rutherford

Cannon

Maury

TA L E NT & WO RK F O RCE - 1 9

NASHVILLE JOBS

NASHVILLE AVERAGE ANNUAL WAGES

U.S. JOBS

U.S. AVERAGE ANNUAL WAGES

Accommodation and Food Services

85,249

$22,924

11,438,579

$22,687

Administrative, Waste Management, Remediation Services

77,202

$42,971

9,390,246

$43,958

6,224

$13,491

2,093,195

$40,230

Arts, Entertainment, and Recreation

18,874

$67,948

2,430,407

$40,778

Construction

58,321

$63,280

8,839,837

$61,098

Educational Services

67,923

$52,618

12,270,834

$55,199

Finance and Insurance

47,291

$104,264

6,301,297

$116,314

Public Administration

47,436

$58,655

7,481,725

$69,202

138,059

$63,329

22,257,051

$54,855

Information

23,025

$83,271

2,962,250

$124,409

Management of Companies and Enterprises

23,141

$127,844

2,318,470

$128,826

Manufacturing

78,640

$63,334

12,385,036

$70,699

Other Services (except Public Administration)

48,249

$35,325

6,459,324

$36,229

Professional, Scientific, and Technical Services

73,111

$91,450

10,617,202

$99,296

Real Estate and Rental and Leasing

19,115

$62,352

2,626,200

$62,598

100,339

$36,057

15,476,548

$35,745

66,299

$47,446

7,272,685

$53,850

4,130

$87,642

806,814

$103,161

38,557

$77,697

5,745,135

$81,384

INDUSTRY SECTOR JOBS AND WAGE RATES

Agriculture, Forestry, Fishing and Hunting

Health Care and Social Assistance

Retail Trade Transportation and Warehousing Utilities Wholesale Trade

Source: Chmura, 2021

2 0 - TA L E N T & WOR KFOR CE

THE TALENT PIPELINE MORE THAN 122,000

STUDENTS ATTEND THE AREA’S COLLEGES AND UNIVERSITIES.

60% OF COLLEGE GRADUATES REMAIN TO WORK IN THE REGION.

24,990 DEGREES AND CERTIFICATES AWARDED TO GRADUATES OF NASHVILLE-AREA COLLEGES AND UNIVERSITIES IN 2019.

ENROLLMENT IN HIGHER EDUCATION

Middle Tennessee State University

Murfreesboro

21,721

Nashville

13,131

Austin Peay State University

Clarksville

11,048

Tennessee Technological University

Cookeville

10,140

Belmont University

Nashville

8,440

Tennessee State University

Nashville

8,081

Lipscomb University

Nashville

4,595

Trevecca Nazarene University

Nashville

4,088

Bethel University

McKenzie

3,119

Cumberland University

Lebanon

2,550

The University of the South

Sewanee

1,768

Meharry Medical College

Nashville

877

Fisk University

Nashville

874

Volunteer State Community College

Gallatin

9,144

Nashville State Community College

Nashville

7,885

Lynchburg

6,992

Columbia State Community College

Columbia

6,305

Tennessee College of Applied Technology

Nashville

847

Tennessee College of Applied Technology

Dickson

785

Tennessee College of Applied Technology

Murfreesboro

552

Vanderbilt University

Source: National Center for Education Statistics, 2019

2019 TOTAL ENROLLMENT

ACCREDITED 4 YEAR AND POSTGRAD INSTITUTIONS

2-YEAR INSTITUTIONS AND TECH SCHOOLS

Motlow State Community College

Total Photo courtesy of Vanderbilt University

122,942

TA L E NT & WO RK F O RCE - 2 1

EDUCATIONAL AWARDS BY CATEGORY, NASHVILLE MSA

Health Professions and Related Programs

4,917

Business, Management, Marketing, and Related Support Services

2,988

Liberal Arts and Sciences, General Studies and Humanities

2,671

Education

1,637

Visual and Performing Arts

1,584

Mechanic and Repair Technologies/Technicians

1,200

Social Sciences

991

Biological and Biomedical Sciences

895

Psychology

706

Multi/Interdisciplinary Studies

617

Communication, Journalism and Related Programs

573

Engineering

568

Personal and Culinary Services

561

Computer and Information Sciences and Support Services

544

Parks, Recreation, Leisure and Fitness Studies

457

Homeland Security, Law Enforcement, Firefighting and Related Protective Services

415

Legal Professions and Studies

393

Public Administration and Social Service Professions

356

Engineering Technologies and Engineering-Related Fields

327

Precision Production

313

Mathematics and Statistics

266

English Language and Literature/Letters

264

Family and Consumer Sciences/Human Sciences

240

Communications Technologies/Technicians and Support Services

239

Theology and Religious Vocations

236

History

195

Physical Sciences

192

Foreign Languages, Literatures, and Linguistics

178

Transportation and Materials Moving

151

Agriculture, Agriculture Operations and Related Sciences

150

Philosophy and Religious Studies

Area, Ethnic, Cultural, Gender and Group Studies

Library Science

Construction Trades

Natural Resources and Conservation

Total

2 2 - TA L E N T & WOR KFOR CE

Source: EMSI Economic Modeling 2017

2019 PROGRAMS AND OCCUPATIONS AWARDS

24,990

WORKFORCE INITIATIVES Free College for All All Tennesseans have access to higher education tuition free. Tennessee was the first state in the

TN Governor’s Investment in Vocational Education (GIVE)

The Governor’s Investment in Vocational Education

nation to offer tuition-free community or technical

(GIVE) is designed to foster long-term regional

college to high school students and adults.

partnerships between Tennessee Colleges of Applied

Tennessee Promise Tennessee Promise is a scholarship program to help more Tennessee high school graduates attend college. Since the program launched in 2015, Tennessee has seen record application numbers and higher student enrollment and retention rates. Students may use the scholarship at any of the state’s 13 community colleges, 27 colleges of applied technology, or other eligible institutions offering an associate degree program. Incredibly, most Promise students are the first in their family to go to college. Volunteer mentors through the tnAchieves program are a critical component to their success providing individual guidance to each participant as they navigate the college admissions

Technology (TCATs), community colleges, industry, economic development agencies, and K-12 to identify and address skills gaps in local workforce pools. • Focus on work-based learning and apprenticeship opportunities. • Funding for four, fully funded dual enrollment credits in high school.

Nashville Talent Hub Lumina Foundation announced Nashville as one of 17 designated Talent Hubs in 2017. Communities earned this new designation by meeting rigorous standards for creating environments that attract, retain, and cultivate talent, particularly students of color, the first in their families to go to college, and

process. For more information, visit tn.gov/tnpromise.

those from low-income households. The Nashville

Tennessee Reconnect

community college tuition for adults and Federal

Started in 2018, the Tennessee Reconnect program helps adults attend a community college or technical college and complete a postsecondary degree or credential, tuition-free. The joint effort includes public and private nonprofit higher education institutions; the region’s workforce development boards; and community and employer partners. The goal of this program is to ensure each adult has access to resources necessary to start and finish a college degree. This initiative will help adults enter higher education to gain new skills, enter jobs that pay well or advance in their current workplace. For more information, visit tnreconnect.gov.

Talent Hub leverages Tennessee’s free technical and Student Aid, coupled with high-touch navigation and completion coach services and resources to support adult postsecondary attainment, focused on the Nashville Promise Zone. The Nashville Talent Hub works as a partnership of the Nashville Area Chamber of Commerce, Metro Nashville, Nashville State Community College and TCAT Nashville, and brings together community-based organizations, employers and government agencies to align programs and services to increase college enrollment, persistence and success. The Nashville Talent Hub is also working to develop distinct career pathways in key sectors, partnering with employers to provide students and graduates internships, learn-and-earn opportunities, and full-time careers in high-growth sectors upon completion of a postsecondary degree or credential.

2 4 - TA L E N T & WOR KFOR CE

YP Nashville YP Nashville is a partnership between the Nashville Area Chamber of Commerce and more than 50 young professional organizations across the region working to engage, connect and empower young professionals to actively shape the future of the Nashville region. The goal of YP Nashville is to connect young professionals with various opportunities for professional development, community involvement and networking. Ultimately, YP Nashville works to advance regional prosperity by building the next generation of community leaders. For more information, visit ypnashville.org

Campbell Strong Workforce Partnership Tennessee joined with the state of Kentucky to develop the Campbell Strong Workforce Partnership to leverage the talent pipeline of over 5,000 soldiers and spouses transitioning out of Fort Campbell Army Base every year. The Fort Campbell Strong Workforce Partnership is a one-of-a-kind program to create a multi-pronged recruitment and training strategy to increase the skilled assets of the transitioning soldiers and spouses. The partnership eliminates barriers to employment through the creation of the Campbell Strong Workforce Coin, valued at $5,000 to fund various training activities to credential their military skills into high demand occupations. Support services are offered to program participants, including spouses, to eliminate barriers to employment such as assistance with daycare, business clothing, equipment and state certifications at no cost to the spouse.

New Skills Ready Grant In October 2020, JP Morgan Chase announced a five-year, $7 million investment in the Nashville community. New Skills Ready grant will support the seamless transition of underrepresented students from high school into postsecondary programs to earn a credential or degree and enter a high-wage, high-demand career. With cross-sector leadership from secondary, postsecondary, philanthropy, and the public and private sectors, this project will design, build, and/or transform career pathways across Nashville to meet high-quality bars with the goal of recruiting historically underrepresented and underserved students and supporting them through secondary and postsecondary completion into high growth, high wage careers in the local economy.

“The Nashville region provides great opportunities for Ft. Campbell’s soldiers, and I encourage our fellow community members to consider the significant employment opportunities to be found in soldiers who are departing the military. At Ft. Campbell, we encourage collaboration with local companies as we are excited to strengthen our partnerships and connections across Middle Tennessee.”

Photo courtesy of Belmont University

-Maj. Gen. JP McGee, Commanding General, 101st Airborne Division (Air Assault) & Fort Campbell TATA L ELNT EN& T WO & WO RKRKF F O RCE O RCE - 2-52 5

TARGET INDUSTRIES Middle Tennessee’s economy is characterized by a diverse mix of industries. The Nashville Area Chamber of Commerce’s long-term economic development strategy has identified five target sectors that drive Middle Tennessee’s economy and provide a concentrated focus for strategic growth within the region: corporate services, health care management and information technology, advanced manufacturing, distribution and trade, and music and entertainment. Building on the Nashville region’s successes and core competencies, companies within these target sectors experience a network of existing expertise, strong growth potential, access to skilled workforce and decades of proven success.

CORPORATE SERVICES

HEALTH CARE MANAGEMENT & INFORMATION TECHNOLOGY

ADVANCED MANUFACTURING

DISTRIBUTION & TRADE

MUSIC, ENTERTAINMENT & HOSPITALITY

Corporate and regional headquarters

Health care management

Automotive and parts manufacturing

Storage and distribution

Music production and publishing

Back office, data centers, shared services

Health information technology

Other manufacturing opportunities

Wholesale trade

Affiliated sectors

2 6 - TA R G E T IN D USTR IE S

AUGUST BIOSERVICES’ COMMITMENT TO MIDDLE TENNESSEE Why did you choose to grow August Bioservices in

How does August Bioservices contribute to Nashville’s

your success?

Beyond job creation and helping to bring life-changing

Nashville? Has this location been an important part of

growing and evolving community?

Nashville was the right choice for us for a host of reasons.

therapies to market, we are very proud of the work we

First, there is a world-class health services ecosystem

are doing with the local school systems around S.T.E.M.

here in Nashville. From hospitals and medical centers

education. We recently hosted a field trip for high school

to life sciences research, academia, and more, we felt

teachers and students from Middle Tennessee who are

August Bioservices could fill a missing niche – that is to

interested in potential careers in S.T.E.M. fields. It was

build a world-class drug discovery, development, and

exciting to have them spend a few hours in our labs learning

manufacturing business to support the new life-changing

from our subject matter experts and seeing

therapies being introduced by biotech and pharma

how technologies like Mass Spectometry, Cell Culture,

companies of all sizes around the world. Second, the growth

Microfluidization, and Microbiology Environmental

and energy of Nashville mirror August’s. In the same way

Monitoring all play a role in the drug discovery,

that Nashville has become one of the fastest-growing and

development and manufacturing process. On a related note,

most-desirable places to live in the United States, August

we were also thrilled to be able to donate some recently

wants to become the preferred provider of outsourcing

retired lab equipment to local high schools

services that support the global pharmaceutical industry.

that will use them as tools for hands-on learning in their

Third, the warm welcome and ongoing support we have

S.T.E.M. programs. One last note – we are looking forward

received from all levels of the Nashville community –

to participating in the upcoming Tennessee S.T.E.A.M.

including organizations like Life Science Tennessee and

Festival this fall, which adds art to the traditional S.T.E.M.

the Tennessee Department of Economic and Community

focus. Lastly, our CEO, Jenn Adams serves on the Board

Development – has only reinforced that Nashville was

for Life Science Tennessee on behalf of August Bioservices

indeed the right choice for us.

because we are very focused on contributing toward making Nashville an attractive location for other biotech and

What has August Bioservices’ experience been in

pharma companies.

Historically in biotech and pharma, the talent has been

Anything else you want to share?

concentrated on the two coasts – primarily in the Northeast

We couldn’t be more excited to be building our company

and Mid-Atlantic, as well as the Bay area and Southern

in a growing, vibrant city like Nashville. With its desirable

California. We knew from the beginning that as an industry

location, high quality of life, welcoming community and

pioneer laying down its roots in Nashville, we would initially

outstanding professional environment, we believe Nashville

need to build our team both by sourcing talent in Tennessee

is the perfect choice to call home. In fact, we are so

where we could, and also by relocating technical talent

committed to Nashville and Middle Tennessee, we even

from other cities. Now that we have a year under our belt,

incorporated the state of Tennessee within our August

as awareness about August and our exciting growth plans

brand logo. We look forward to a mutually prosperous and

for the company has grown, we are seeing more inbound

happy journey for many years to come.

searching for talent in the Nashville region?

inquiries about opportunities to join our team. We’ve hired people from across Tennessee in addition to people from both coasts. We’re continuing to work with local colleges, universities, and high schools to promote S.T.E.M. career opportunities. Additionally, every member of our senior management team, as well as the numerous other roles that we have filled over the past year, chose August and moved to Nashville from another city to become part of the unique company we are building.

TA R G ET I N D US T RI ES - 2 7

CORPORATE SERVICES The Nashville region has established itself as one of the most desirable headquarters and corporate office locations in America. The top driver of that growth is the region’s strong talent pipeline. The Nashville region is home to approximately 123,000 students who attend the region’s higher education institutions, with 60 percent choosing to remain in the area to work. Vanderbilt University, Middle Tennessee State University, Fisk University, Tennessee State University, Belmont University, Lipscomb University and a host of two-year institutions are just a few of the talent suppliers for the area’s corporate offices. The Nashville region is also one of the most attractive metropolitan areas in the country for in-migration. Nashville gains an average of 76 net new residents per day, providing the region’s employers a continuous supply of available workforce. Corporate headquarters in the region range from sectors including retail (Dollar General, Tractor Supply Company, Kirkland’s, Genesco) to health care (HCA, Community Health Systems, LifePoint, SmileDirectClub) to manufacturing (Nissan, Gibson Brands, Red Collar Pet Food, Bridgestone, Hankook Tire, Mitsubishi) and financial services (AllianceBernstein, Pinnacle Financial Partners, Ramsey Solutions, CAT Financial). The continued growth of these corporations is driven by the regional talent pool, affordable operating costs and the ability to recruit key talent to the region. The Nashville region has also earned a reputation as a hotbed for technology, as companies like Lyft, iHeartMedia, NTT Data, Pilot.com, Amazon, Asurion, and KeepTruckin’ chose Nashville for significant tech operations. As Nashville continues to thrive, this evolution has become even more evident through the region’s creative talent and a wealth of entrepreneurial success.

2 8 - C O R P OR ATE S E R VICE S

CORPORATE SERVICES WAGES JOBS IN NASHVILLE MSA (2020)

MEDIAN HOURLY EARNINGS

Human Resources Managers

1,649

$45.66

Buyers and Purchasing Agents

2,234

$27.08

Market Research Analysts and Marketing Specialists

4,491

$28.96

11,165

$32.00

Financial Specialists, All Other

3,834

$32.14

Sales Representatives, Services, All Other

7,252

$27.96

534

$14.82

Bill and Account Collectors

2,399

$19.14

Billing and Posting Clerks

3,312

$18.85

Payroll and Timekeeping Clerks

1,030

$21.31

22,993

$17.45

Receptionists and Information Clerks

6,918

$14.44

Executive Secretaries and Administrative Assistants

3,214

$27.83

Computer Operators, All other

3,176

$30.09

796

$17.16

Accountants and Auditors

Switchboard Operators, Including Answering Service

Customer Service Representatives

Data Entry Keyers

-Rob McCabe, Pinnacle Financial, Partners Director Source: EMSI, BLS, QCEW Q2, 2021

OCCUPATION

“Nashville’s economy has thrived as a result of three essential ingredients needed for smart and sustainable growth. First, we have a large pool of available capital thanks to robust banking and private equity communities. In addition, we have a deep well of top tier talent to lead and work in our local businesses. Lastly, we have an economy driven by partnerships.”

#4 Metro for Economic Strength in 2021 POLICOM, January 2021

Vanderbilt, Belmont and Lipscomb universities offer top-ranked MBA programs Bloomberg Business, 2019

#5 City for Job Seekers in 2021 MoneyGeek, 2021

#1 for Most Economic Growth Stessa. 2021

179,304 people in the Nashville MSA have a graduate or professional degree. American Community Survey 2019 1 Year Estimates

2nd Hottest Job Market in the Country Wall Street Journal, 2020

The Nashville region is home to 11 Fortune 1000 companies including 5 Fortune 500 headquarters. Fortune, 2021 C OR P O RAT E S ERV I CES - 2 9

MITSUBISHI MOTORS RELOCATES HEADQUARTERS FROM CALIFORNIA TO FRANKLIN Why did you choose to relocate your headquarters to Franklin? Has this location been an important part of your success?

The move was part of an ongoing plan to reinvent every aspect of the Mitsubishi Motors brand in the U.S. Dynamic technology, entrepreneur and automotive scenes originally attracted us to Tennessee. Williamson County’s schools, cost of living and community pride put our decision over the edge. What has your experience been in hiring talent in the Nashville region? Have you been successful recruiting qualified workers with skills needed?

Absolutely. We’ve found great talent and built a passionate and enthusiastic team locally. Have there been any specific programs that have helped your company succeed in the Nashville region? The close working relationships we built with Governor Lee, the State of Tennessee’s economic and community development department, and the Williamson Inc. team in our transition made it seamless for us. What is Mitsubishi doing to make the Nashville region a better place to live, work and play? We are building a corporate social responsibility program that allows employees to bring their time and their talents to the table. We will continue to grow and support our philanthropic relationships, but also explore ways to support the small business and entrepreneur communities in the area. Anything else you want to share? In searching across the country for the best place to move our headquarters office – taking into consideration the cost of doing business, cost of living, lifestyle, schools, climate and all the things that would make our employee team want to move, as well as the business climate the Nashville region and the state of Tennessee offer – choosing Franklin checked all the boxes important for us. Tennessee, and the greater Nashville area specifically, offer a strong automotive-focused worker pool – VW, Nissan, GM, Calsonic, Hankook Tire and others all have operations in the region. More importantly, the area offers a worker pool that is focused on other aspects – customer satisfaction, new business-thinking, brave new ways of doing business – that will be critical to the future of the Mitsubishi brand in the US.

3 0 - C O R P OR ATE S E R VICE S

INFORMATION TECHNOLOGY The Nashville region has become a premier destination for

The tech industry has a $8 billion impact on the Nashville

innovation and creativity. A national hub for the creative

economy. Nashville is stepping up its technology infrastructure

class, Nashville enjoys the competitive advantages of having

to accommodate and encourage future growth with three

a creative culture, a well-educated population and a thriving

Internet service providers offering gigabit Internet speeds.

technology industry. This strength is seen in the enterprising

Google Fiber, Comcast and AT&T provide the infrastructure

and entrepreneurial spirit of Nashville which creates a space for

that further establishes Nashville as an advanced tech city that

ingenuity and innovation.

will now be able to better accommodate its population of entrepreneurs and software developers, as well as the growing

The technology sector is the leading edge of the region’s

number of individuals working from their homes.

growth with thousands of job opportunities in fields from music and entertainment to health care to enterprise software

Nashville’s unparalleled creative community – with a mashup of

development. From 2014-2019, the number of tech jobs in

musicians, artists, writers, developers and designers – translates

Middle Tennessee grew by 36%, outpacing national tech job

into a tech scene unlike any other in America.

growth by 13%.

“#8 BEST-PERFORMING CITIES, 2021

“PROJECTED GROWTH RATE FOR TECH

BASED ON JOBS, WAGES, AND HIGH-TECH GROWTH.”

- Milken Institute, 2021

JOBS IN MIDDLE TENNESSEE (2019-2024) IS

16.0%

COMPARED TO

9.0% PROJECTED NATIONAL TECH JOB GROWTH 13.0% PROJECTED STATEWIDE JOB GROWTH, AND 10.0% GROWTH ACROSS ALL OCCUPATIONS IN MIDDLE TENNESSEE.” - State of Middle Tennessee Tech 2020, Middle Tennessee State University

LEADING TECHNOLOGY EMPLOYERS AllianceBernstein

Dollar General Corp.

Lifeway Christian Resources

STR

Amazon

Education Networks of America

Lyft

Teksystems

Anthem Inc.

Eventbrite

MEDHOST, Inc.

Tractor Supply

Asurion

emids

Nissan

UBS

AT&T Inc.

eviCore

Novatech Inc.

Vaco

Comcast

Philips

Comdata

HCA Healthcare

Pilot.com

Vanderbilt University and Medical Center

Change Healthcare

HealthStream Inc.

Postmates

Deloitte

Internal Data Resources

RJ Young

Dell Technologies

LBMC

Robert Half

Video Gaming Technologies

Source: 2020 Book of Lists & Nashville Area Chamber of Commerce INFOR M ATIO N T ECH N O L O G Y - 3 1

FACEBOOK SELECTS MIDDLE TENNESSEE

FOR NEW DATA CENTER

Why choose to locate your data center in Gallatin?

What is Facebook doing to make the Nashville region

Even in a competitive environment the Nashville region

a better place to live, work, and play?

stood out to us for a number of reasons. When considering

We strive to be a good partner in our data

sites for our data centers, we look for good infrastructure,

center communities.

a strong pool of talent for construction and ongoing operations and access to renewable energy as we look to

Since breaking ground in Gallatin in the fall of 2020,

support all of our data centers with renewable energy on the

we’ve been fortunate to have opportunities to support

same electric grid.

Sumner County Schools with grants to improve students’ access to the Internet and to fund advanced robotics

We certainly found these conditions when we selected

competitions that fuel their interest in STEM. We’ve also

Gallatin. The area’s leaders have been amazing

supported the Educate a Woman program that raises

community partners.

money for scholarships for women to attend Volunteer State Community College.

Have there been any specific programs that have helped your company succeed in the Nashville region?

This is just the beginning and we look forward to getting

The deep partnerships we’ve developed with the region’s

involved to support nonprofits, schools, local businesses and

leaders, including the Sumner County schools, businesses,

other projects in the community.

government agencies and nonprofits, have been the most critical part of our success. We are committed to being a good neighbor that plays an active role in the community.

Any other comments about doing business in the Nashville region?

The Nashville region is a hot spot for tech, business and How is being located in the Nashville region important

culture. It’s a beautiful part of the country, with dedicated

for Facebook’s business?

and supportive community leaders committed to its long-

One of the biggest benefits to locating our data center in

term vitality.

the greater Nashville community is the thriving partnership we have with the Tennessee Valley Authority (TVA). We are

We’re proud to be part of this community and help

steadfast in our commitment to sustainable operations and

contribute to its reputation as a great place to live and work.

TVA has been instrumental in us meeting that goal. Our Gallatin Data Center will be supported 100% by renewable energy. We have contracted with TVA to provide 852 MW of power from 6 solar farms in the area. This in turn has produced more than 2,600 construction jobs and upwards of $222 million in GDP.

3 2 - I NFOR M ATION TE CHN OL O GY

JOBS IN NASHVILLE MSA (2020)

MEDIAN HOURLY EARNINGS

Software Developers and Software Quality Assurance Analysts and Testers

7,402

$45.20

Computer Systems Analysts

4,931

$38.55

Computer User Support Specialists

4,505

$22.74

Computer Occupations, All Other

2,200

$36.91

Network and Computer Systems Administrators

2,037

$36.04

Computer Network Support Specialists

1,311

$29.08

Web Developers and Digital Interface Designers

1,298

$25.67

Computer Network Architects

1,265

$44.52

Database Administrators and Architects

1,172

$46.52

Computer Programmers

1,040

$42.71

Information Security Analysts

1,032

$38.32

$50.72

Computer and Information Research Scientists

#1 in the U.S. for Healthcare IT Jobs

Source: EMSI, BLS, QCEW Quarter 2 2021

INFORMATION TECHNOLOGY OCCUPATION

Nashville is #4 overall on the Surge Cities Index for best places for startups. Within those rankings, Nashville was #4 overall for Job Growth and #3 for Net Business Creation. (2021)

Relode.com, 2020

Nashville is a Google Startups Tech Hub in the U.S. to help our local Nashville startup community thrive.

#2 in the nation for net inflow of tech workers. (May 2020 - April 2021) LinkedIn Data, 2021

INFOR M ATIO N T ECH N O L O G Y - 3 3

3 4 - R E G I O N AL E CON OMIC DEVELO PMENT GU IDE

R E GIONA L E C ONOM IC DE V E L O P MEN T G UI D E - 3 5

“Nashville has long been known for its collaborative and entrepreneurial spirit, and in recent years, the city has gained a national reputation for cutting-edge technology and innovation. As a result, established healthcare companies like HCA Healthcare- along with startups and professional partnerships- are moving the industry forward and improving patient care not just here but everywhere.” -Sam Hazen, Chief Executive Officer, HCA Healthcare

HEALTH CARE MANAGEMENT Nashville is widely recognized as a national health care industry capital and global health care industry leader. With a reputation for dynamic, innovative health care companies, the Nashville region has a rich tradition of entrepreneurship and strong industry management talent. Nashville has helped shape the nation’s health care landscape for the past four decades and continues to improve the delivery of patient care across the globe. The health care industry contributes an overall benefit of nearly $67 billion and 328,598 jobs, direct and indirect, to the local economy annually. More than 900 health care companies are located in Middle Tennessee, making it the region’s largest and fastest-growing industry. Eighteen publicly traded health care companies are headquartered in the region, with a combined worldwide employment of nearly 500,000 and $95 billion in global revenue. More than half of the privately-owned hospital beds in the U.S. are operated by Nashville-area companies. The region has also developed a network of professional service firms specializing in the health care industry – including legal, accounting, finance and real estate services.

NASHVILLE’S HEALTH CARE INDUSTRY DIRECTLY EMPLOYS

167,916 PEOPLE.

3 6 - H E ALT H CAR E MAN AGE MENT

LOCAL EMPLOYEE

Vanderbilt University Medical Center

24,039

HCA Healthcare Inc.

10,600

Saint Thomas Health

8,335

Community Health Systems Inc.

3,878

National HealthCare Corp.

3,028

United Healthcare

1,984

AdvancedHEALTH

1,932

LifePoint Health

1,866

Williamson Medical Center

1,382

Source: NBJ, 2019; Nashville Healthcare Council Annual Report 2020-2021

LEADING HEALTH CARE EMPLOYERS

Registered Nurses

(2020) JOBS IN NASHVILLE MSA

MEDIAN HOURLY EARNINGS

18,702

$31.89

Home Health and Personal Care Aides

9,032

$11.60

Licensed Practical and Licensed Vocational Nurses

7,112

$22.27

Receptionists and Information Clerks

6,918

$14.44

Medical Assistants

5,469

$16.95

Medical and Health Services Managers

4,154

$48.04

Clinical Laboratory Technologists and Technicians

3,741

$27.25

Healthcare Social Workers

1,859

$24.42

Surgical Technologists

561

$23.95

Occupational Health and Safety Specialists

509

$36.96

Purchasing Managers

496

$51.10

File Clerks

459

$16.81

Health Education Specialists

457

$26.42

18 PUBLICLY TRADED HEALTH CARE COMPANIES IN THE NASHVILLE REGION.

Source: EMSI, BLS, QCEW Quarter 2 2021

HEALTHCARE OCCUPATION

MORE THAN 1.6 BILLION IN VENTURE CAPITAL WAS INVESTED IN NASHVILLE HEALTH CARE COMPANIES OVER THE PAST 10 YEARS. 2010

2012

2014

2016

2018

$ 1 , 6 0 0, 0 0 0 , 0 0 0 2011

MORE THAN 900 HEALTH CARE COMPANIES HAVE OPERATIONS IN 900 NASHVILLE AND WORK ON A MULTISTATE, NATIONAL OR INTERNATIONAL BASIS.

95%

2013

400

2015

2017

2019

NASHVILLE IS HOME TO MORE THAN 400 PROFESSIONAL SERVICE FIRMS THAT PROVIDE EXPERTISE IN THE HEALTH CARE INDUSTRY.

95% OF HEALTH CARE CEOS INDICATE THAT A NASHVILLE HEADQUARTERS LOCATION IS IMPORTANT TO THEIR COMPANY’S POSITIVE PERFORMANCE.

Source: Nashville Health Care Council Economic Impact Study HE A LTH C A R E MAN AG EMEN T - 3 7

MUSIC & ENTERTAINMENT With more than 190 recording studios, over 5,000 working

The Nashville region has been a magnet for creative talent

musicians, and live music every night of the week, Nashville

since the 1930s. Today, that energy is stronger than ever

is a hub for the music industry. The Nashville region’s

and is drawing not only songwriters and instrumentalists

concentration of musicians and music businesses is the

from all genres, but also filmmakers, artists, authors and

highest in the nation. Music industry activity in Nashville is

digital entrepreneurs. The Nashville region is home to

as much as 30 times greater than the nation overall – 10

some of the world’s most popular entertainers including

times greater than New York or Los Angeles and even

Tim McGraw, Jack White, Taylor Swift, Sheryl Crow, The

greater compared to other cities such as Atlanta, Austin

Black Keys, Paramore and Kings of Leon. Nashville’s

and New Orleans.

incredibly diverse music and entertainment industry continues to expand making the city a creative core for the

Nashville has evolved alongside the music business

region and the country.

and has maintained its status as a global center for the entertainment industry. The local music scene has been praised in major publications such as The New York Times, Travel + Leisure, SPIN and Rolling Stone.

LEADING MUSIC & ENTERTAINMENT EMPLOYERS ACM Apple Music ASCAP Big Machine Records Billboard BMG/BBR Music Group

LiveNation Musicians Hall of Fame & Museum Ryman Hospitality Properties SESAC Sony Entertainment Sony/ATV Music Publishing

BMI

St. Jude Country Cares

CAA

Third Man Records

Capitol Records CMT Country Music Hall of Fame & Museum Curb Records GAC

Universal Music Group Vector Management Viacom Warner Music Nashville William Morris Endeavor (WME)

Gibson Guitar Corporation

HEADQUARTERED MUSIC & ENTERTAINMENT ASSOCIATIONS Americana Music Association Academy of Country Music Barbershop Harmony Society Country Music Association Country Radio Broadcasters 3 8 - M U S I C & E N TE RTAIN ME NT

Gospel Music Association International Bluegrass Music Association National Museum of African American Music Nashville Songwriters Association International

$15.9 BILLION

“iHeartRadio is excited to be part of the Nashville community! This is such a vital city that has all the elements we are looking for – rapid growth in the tech space, a huge historical connection to music, local colleges and universities that provide a great talent base, and other passionate, tech savvy talent, who continue to flock to this hip and developing market for its quality of life and exciting career opportunities.”

TOTAL ANNUAL INDUSTRY IMPACT WITHIN THE NASHVILLE MSA

$9.9 BILLION

ANNUAL CONTRIBUTION TO THE LOCAL ECONOMY

43,000+

MUSIC & ENTERTAINMENT JOBS IN THE NASHVILLE REGION

-Darren Davis, President, iHeartRadio

#1 METRO AREA

FOR MUSIC RELATED JOB GROWTH (2020 MUSIC INDUSTRY REPORT)

Source: Nashville Area Chamber of Commerce 2020 Music Industry Report

JOBS IN THE NASHVILLE MSA (2020)

MEDIAN HOURLY EARNINGS

Arts, Design, Entertainment, Sports and Media Occupations

15,352

$23.73

Accountants and Auditors

11,165

$32.00

Financial Managers

7,616

$51.24

Musicians and Singers

3,287

$26.88

Executive Secretaries and Executive Administrative Assistants

3,214

$27.83

Human Resources Managers

1,649

$45.66

Graphic Designers

1,560

$23.77

Public Relations Specialists

1,505

$33.22

Producers and Directors

1,481

$25.88

Photographers

1,090

$19.95

Audio and Video Technicians

1,072

$21.26

Sound Engineering Technicians

709

$26.14

Agents and Business Managers of Artists, Performers, and Athletes

661

$31.69

Broadcast Announcers and Radio Disc Jockeys

431

$18.75

Source: EMSI, BLS, QCEW Quarter 2 2021

MUSIC AND ENTERTAINMENT OCCUPATIONS

M U SIC & EN T ERTAI N MEN T - 3 9

ADVANCED MANUFACTURING Over the past two decades, the Nashville region’s premier location, skilled workforce, labor cost advantages, advanced training, and innovative technology have made the region an ideal destination for world-class manufacturers. These advantages allow Nashville’s celebrated manufacturing base to operate more efficiently and at a lower cost than almost anywhere in America. Three interstate highways converge in Nashville, providing ideal access to market for the manufacturing community. The city is a hub in the CSX rail system, connecting 20 states, 140 freight carriers and 150 truck terminals. Air cargo at Nashville International Airport (BNA) is supported by 10 major carriers. Rates for freight transport are among the most competitive in the nation. As a right-to-work state, Tennessee consistently gives employers optimal return on investment. Favorable business regulatory and tax climates allow manufacturing firms to focus on high-quality production. The community college system and vocational/technical schools provides the workforce that helped Nashville earn a national reputation as a top location for advanced manufacturing operations.

LOCAL EMPLOYEES

Nissan North America Gulfstream Aircraft General Motors Bridgestone Americas Inc. Electrolux Home Products North America A.O. Smith Corp. Tyson Foods Inc Dell Technologies Schneider Electirc Hankook Tire America Corp. Trane Co. ABC Technologies Adient General Mills Inc. Mars Petcare US UniPres USA Inc. YAPP USA Automotive Systems Inc. Carlex Glass America Vi-Jon Tennsco Nashville Wire Products Manufacturing Co. Triumph Aerospace Structures Akebono Brake Mahle Filter Systems North America North American Stamping Group Josten’s Printing and Publishing Division L&W Engineering Plant 5

11,000 5,000 3,800 3,430 3,400 2,327 1,961 1,800 1,415 1,200 1,100 1,000 1,000 1,000 1,000 900 800 775 738 598 560 560 500 491 413 400 400

Source: Book of Lists 2020

4 0 - A D VAN CE D MAN UFACTU RING

LEADING ADVANCED MANUFACTURING EMPLOYERS

JOBS IN NASHVILLE MSA

MEDIAN HOURLY EARNINGS

Construction laborers

9,882

$16.50

Painters, construction and maintenance

2,504

$17.00

Operating engineers and other construction equipment operators

2,352

$19.09

Industrial engineers

1,589

$38.94

Mechanical engineers

801

$42.17

Paving, surfacing, and tamping equipment operators

184

$17.51

Drafters, all other

153

$25.49

Source: EMSI, BLS, QCEW Quarter 2 2021

ADVANCED MANUFACTURING OCCUPATION

80,000+ MANUFACTURING JOBS IN THE NASHVILLE REGION

15,885 NEW JOBS IN THE NASHVILLE REGION’S MANUFACTURING SECTOR SINCE 2010 19% increase 80,640

2020 2010

64,755

#1 BEST CITY FOR FIRST-TIME HOMEBUYERS

(SMARTASSET, 2021)

#1 #2 STATE FOR DOING BUSINESS

(AREA DEVELOPMENT, 2020)

GA TN SC AL

“Positioning the broader Nashville region as a leading economic market strengthens access to top talent, fosters a creative and diverse culture, and helps keep the business environment attractive to current employers, as well as those looking to expand or relocate their business.” -Ikdeep Singh, Regional President, Mars Petcare North America

A DVA NC E D MAN UFACT URI N G - 4 1

DISTRIBUTION & TRADE The Nashville region is centrally located and offers expansive modes of transportation allowing businesses to reach U.S. and international locations with ease and affordability. Fifty percent of the U.S. population lives within 650 miles of Nashville, and 24 states are located within that 650-mile radius. Tennessee borders eight states. These location advantages translate to one and two-day truck delivery times to more than 75 percent of all U.S. markets. Nashville is one of only six U.S. cities with three major intersecting interstate highways. Highway systems in Tennessee are rated among the nation’s best offering exceptional connections for freight and commuting. Middle Tennessee is within 250 miles of one-third of all car and truck assembly in the United States offering an ideal location for vehicle shipment. Unmatched access to North American markets delivers bottom-line advantage in freight costs.

1-2 DAY

84,000+

DISTRIBUTION & TRADE JOBS

TRUCK DELIVERY TIMES TO MORE THAN

IN THE NASHVILLE REGION - EMSI, 2020

75% OF ALL U.S. MARKETS

ONE-THIRD

OF ALL CAR AND TRUCK ASSEMBLY IN THE UNITED STATES IS WITHIN

250 MILES OF NASHVILLE

4 2 - D I S T R IBUTION & TR ADE

LEADING DISTRIBUTION/ TRADE EMPLOYEES Nissan North America

LOCAL EMPLOYEES 11,000

Amazon.com

4,000

Electrolux Home Products

3,400

GEODIS

2,045

CSX Environmental

2,000

Ingram Content Group Inc.

1,981

CEVA Logistics

1,876

GAP Inc.

1,523

Source: Book of Lists 2020

DISTRIBUTION AND TRADE OCCUPATION

JOBS IN NASHVILLE MSA

MEDIAN HOURLY EARNINGS

Motor vehicle operators

36,324

$20.47

Heavy and tractor-trailer truck drivers

19,309

$24.10

Light truck drivers

8,270

$16.92

Transportation workers, all other

2,336

$13.01

Cargo and freight agents

436

$17.64

Transportation security screeners

371

$21.31

Air traffic controllers

218

$57.07

Commercial pilots

159

$34.98

Airfield operations specialists

116

$15.59

Tank car, truck, and ship loaders

112

$25.72

Conveyor operators and tenders

$19.41

Source: EMSI, BLS, QCEW Quarter 2 2021; Chmura 2020

DISTR IB UT I O N & T RAD E - 4 3

LIVABILITY QUALITY OF LIFE Living and working in the Nashville MSA has

Nashville routinely places at the top of national

many advantages that appeal to companies and

and international livability rankings. Nashville has

workers considering relocation. Nashvillians enjoy

a vibrant culture centered on creativity, music and

a higher standard of living than workers in other

entrepreneurship that complements its robust

large metros. The region has a relatively low cost

dining scene, popular entertainment venues and

of living and high per capita income, resulting

beautiful outdoor spaces.

in more disposable income for its residents.

CREATIVE VITALITY THE NASHVILLE MSA IS HOME TO MORE THAN 630 ARTS, CULTURE AND HUMANITIES DESTINATIONS

PLATINUM-LEVEL CERTIFIED VALLEY SUSTAINABLE COMMUNITY (TVA)

$15.9 BILLION MUSIC INDUSTRY IMPACT

“CMA believes being a part of Music City means being a good neighbor. We launched our headquarters here in 1958 and, while our organization operates globally, we continue to host our events at local venues and invest in the community by working with other local companies. From renowned chefs and luxe hotels to family-friendly activities and a vibrant nightlife, Nashville has it all and more. Since 2010, our CMA Foundation has poured millions of dollars into Metro Nashville Public Schools to empower the next generation of Nashville and ensure every child here has equitable opportunity to participate in high-quality music education.” - Sarah Trahern, Country Music Association, Chief Executive Officer

4 4 - L I VA B ILITY

180+

484+

ARTS-RELATED NON-PROFITS

DOWNTOWN RESTAURANTS, BARS AND NIGHTLIFE ENTERTAINMENT OPTIONS

14,000

2,400+

RESIDENTS LIVE DOWNTOWN

BUSINESSES OPERATE IN DOWNTOWN NASHVILLE

75,000

PEOPLE WORK IN THE DOWNTOWN CORE Source: Nashville Downtown Partnership

MUSEUMS AND FESTIVALS • • • • • • • • • • • • •

Adventure Science Center African Street Festival Americana Music Festival Bonnaroo Music and Arts Festival CMA Music Festival Cheekwood Botanical Gardens & Museum of Art Cherry Blossom Festival Country Music Hall of Fame & Museum Frist Center for the Visual Arts Glen Campbell Museum Jefferson Street Jazz and Blues Festival Johnny Cash Museum Lane Motor Museum

• • • • • • • • • • • • • •

Live on the Green Music Festival Madame Tussauds Nashville Music City Hot Chicken Festival Musicians Hall of Fame and Museum Nashville Fashion Week Nashville Film Festival Nashville Oktoberfest Nashville Pride National Museum of African American Music Pilgrimage Music & Cultural Festival Tennessee Craft Fair Tennessee State Museum The Patsy Cline Museum The Parthenon L I VAB I L I T Y - 4 5

Nashville Predators

Tennessee Titans

Nashville Sounds

NHL

NFL

MLB

Nashville Zoo at Grassmere

Nashville Soccer Club MLS

80 MILES

GOLF COURSES

OF PAVED TRAILS

200+

30,000 ACRES

PUBLIC PARKS

4 6 - L I VA B ILITY

OF INLAND LAKE

LIVE MUSIC

EVERY DAY OF THE WEEK

MORE THAN 120

LIVE PERFORMANCE VENUES

VENUE HIGHLIGHTS •

3rd and Lindsley

•

Grand Ole Opry

•

Ryman Auditorium

•

Ascend Amphitheater

•

Marathon Music Works

•

Schermerhorn Symphony Center

•

Bridgestone Arena

•

Nashville Ballet

•

Tennessee Performing Arts Center

•

City Winery

•

Nashville Children’s Theatre

•

The Bluebird Cafe

•

FirstBank Amphitheater

•

Nashville Opera

•

The Station Inn

•

Nissan Stadium

DIVERSITY Nashville’s population continues to expand in diversity of origin, ancestry and ethnicity, enhancing the region as a cosmopolitan place to live and work. INTERNATIONAL MIGRATION ACCOUNTED FOR MORE THAN 20 PERCENT OF NASHVILLE’S NET IN-MIGRATION FROM 2010 TO 2020.

1 IN 8 DAVIDSON COUNTY RESIDENTS IS FOREIGN-BORN NASHVILLE AND MIDDLE TENNESSEE OFFER A WIDE VARIETY OF INTERNATIONAL CULTURAL AND SOCIAL ORGANIZATIONS. NASHVILLE IS HOME TO LARGE POPULATIONS OF HISPANIC, MIDDLE EASTERN, KURDISH AND SOUTH AND SOUTHEAST ASIAN.

L I VAB I L I T Y - 4 7

COST OF LIVING

San Francisco

194

New York

190.1

Seattle

156.8

Boston

150

Los Angeles

147.7

Chicago

123.9

Austin

101.8

Atlanta

101.1

Raleigh

96.9

Nashville

96.6

Tampa

95.8

Charlotte

Indianapolis

91.1

Source: C2ER Cost of Living, 2020 Annual Averages

CLIMATE AND SETTING JANUARY HIGH-LOW 28.4°F-46.9°F

10°F/-12°C

20°F/-6°C

30°F/-1°C

40°F/4°C

YEARLY AVERAGE 59.3°F

50°F/10°C

60°F/15°C

70°F/21°C

80°F/26°C

90°F/32°C

ELEVATION

HUMIDITY Morning 84% Afternoon 56%

TENNESSEE 6,643 ft.

NASHVILLE 1,163 ft.

AVERAGE ANNUAL RAINFALL Nashville: 51.38 inches Tennessee: 65.73 inches United States: 30.36 inches

Source: : NOAA, Comparative Climate Data, 2018, (city of Nashville); NOAA National Centers for Environmental information, Climate at a Glance: City Time Series. 2020 Annual Average; United States Geological Survey, Open-File Reports 4 8 - L I VA B ILITY

100°F/38°C

AVERAGE RELATIVE HUMIDITY

DAYS OF SUNSHINE PER YEAR

200 Days

JULY HIGH-LOW 69.5°F-89.3°F

TIME ZONE CENTRAL TIME ZONE

PLATINUM INVESTORS Ascension Saint Thomas

LKQ Corporation

Tennessee Valley Authority

Community Health Systems

Tractor Supply Company

First Horizon Foundation

Metropolitan Government of Nashville & Davidson County

HCA Healthcare

Nashville Electric Service

Vanderbilt University

Ingram Industries Inc.

Pinnacle Financial Partners

Vanderbilt University Medical Center

Lawrence Gateway

PNC Bank

LifePoint Health

Regions Bank

Truist Bank

GOLD INVESTORS AllianceBernstein

Delta Dental of Tennessee

Philips North America

Amazon

Envision Healthcare

Piedmont Natural Gas

Asurion

ESa

Polsinelli PC

Baker Donelson

PwC

Bank of America

Fifth Third Bank

Renasant Bank

Barge Design Solutions, Inc.

FirstBank

Ryman Hospitality Properties

Bass, Berry & Sims PLC

Frost Brown Todd LLC

Tennessean | LOCALiQ

Belmont University

Gaylord Opryland Resort & Convention Center

Tennessee Titans

BKD CPAs & Advisors

Genesco Inc.

The Memorial Foundation, Inc.

Bradley

Gresham Smith

UBS

Butler | Snow

KPMG LLP

CapStar Bank

LBMC & Affiliates

U.S. Smokeless Tobacco Co., LLC (an Altria Company)

Caterpillar Financial Services Corporation

Louisiana-Pacific Corporation

Waller

CoreCivic

Mars Petcare U.S.

Zycron, A Brand of BG Staffing, Inc.

Country Music Association Inc.

Metropolitan Nashville Airport Authority

Cushman & Wakefield

Nashville Predators

Deloitte LLP

Office Resources, Inc. (ORI)

SILVER INVESTORS Accenture

Dell Nashville

SpecialtyCare

Atiba

DET Distributing Company

Stites & Harbison, PLLC

Avison Young - Tennessee, Inc.

DPR Construction

Truxton Trust

Bell and Associates Construction, L.P.

Google Fiber

Turner Construction Company

BluWave

Highwoods Properties

TVV Capital

Brasfield & Gorrie, LLC

Lee Company

U.S. Bank N.A.

Bridgestone Americas, Inc.

Lipscomb University

Vaco

Cheekwood Estate & Gardens