Nashville's boom may be a hard act to follow
NASHVILLE, Tenn. - In the depths of the financial crisis, when the world was shunning debt and battening down for the worst, city officials here zagged in what seemed a preposterous direction and spent $600 million on a new convention center.
It is in many ways a positive story of how new winners can emerge even after a devastating recession. But it also represents a major fault line in the recovery that followed: Winning places like Nashville have won big, often for reasons that can’t obviously or quickly be replicated, while much of the rest of the country has struggled to stay even or slipped behind.
In many ways the country has seemingly recovered from a 2007-2009 recession that was the worst downturn since the 1930s. Unemployment is near a 50-year low, household income has been rising, and the country is at a point in the business cycle when workers typically see their most robust gains. Nashville ranked 11th on the list, keeping company with other southern towns like Charlotte and Atlanta, and the usual fast-growth suspects like Seattle and San Francisco.
But interviews with entrepreneurs and officials in Nashville point to a mix of factors behind its success, including some that were out of the city’s control, such as the state’s lack of an income tax, and others associated with its unique local assets. Private sector jobs in Nashville surged 31% since national employment bottomed in 2010, from 622,000 to around 820,000 through 2017, double the national job growth rate of around 15%, according to federal data.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
As 'superstar' cities keep winning, worrisome U.S. divide widensIn the depths of the financial crisis, when the world was shunning debt and batt...
Leer más »
Billy Porter Gets Real About Inclusivity in Hollywood—And The Story Behind That Oscars DressIn 2019, it's hard to imagine a conversation about Hollywood and fashion without the name Billy Porter. But for years, the 'Pose' star was just outside the mainstream pop star bubble, winning Grammys and Tony Awards while dominating the theater community. Suffice to say, he has plenty of tales to tell. In his first screen test, actor Billy Porter talks about what it took to make it in Hollywood—and why he's not going anywhere now that he's here.
Leer más »
I’m A Working Mom, And Every Day I Leave A Piece Of Myself BehindEvery day when I go to work, I leave a piece of myself behind.
Leer más »
Fifth U.S. city will process applications from migrants returned to MexicoThe U.S. government on Friday named Brownsville, Texas, as a fifth city for proc...
Leer más »
U.S. overdose deaths post annual drop for first time in two decadesU.S. overdose deaths dropped last year for the first time in nearly two decades,...
Leer más »
Here's why Netflix says it lost U.S. paid subscribers for the first time in eight yearsNetflix blamed its content slate, regional price increases and a 'pull-forward effect' of its strong Q1 growth for the miss.
Leer más »