Five Reasons Why Your Employees Will Love Working in Tennessee
When you think of Tennessee, you might picture country music, NASCAR, and the Smoky Mountains. But did you know that our state is also ranked as one of the most business-friendly in the country? Tennessee consistently ranks highly in economic performance and outlook. Here are a few reasons why your employees will love living and working here:
Big Tax Incentives
The Tennessee Department of Economic and Community Development (TNECD) credits Tennessee’s high ranking to competitive tax incentives. Tennessee has one of the lowest tax burdens in the U.S., with no tax on personal income tax on wages and salaries. We’re a right-to-work state and have some of the lowest state debt per capita and state and local taxes per capita in the country. These financial policies lift a big financial burden for businesses compared to other states.
Low Cost of Living
Tennessee consistently ranks as having one of the lowest costs of living in the United States. According to TNECD, the average cost of living here is 11% below the national average and housing costs are 20% below the national average. Northeast Tennessee is one of the most affordable areas to live in the state. Compared to major U.S. cities, the cost of living in the Tri-Cities area is more than 100% lower.
Fast Economic Growth
Tennessee ranks highly in the U.S. for advanced industry job growth. Our state offers opportunities for growth in a variety of sectors, including manufacturing, real estate, health care, wholesale and retail trade, finance, and more. Employment here is also growing annually. This is thanks in part to the many major corporations that call Tennessee home, including FedEx, Dollar General, and Eastman Chemical.
There are endless ways to have fun in Tennessee. Our region’s rich history and culture provide opportunities to enjoy all types of entertainment—and it’s not all country and bluegrass. Enjoy any genre here by attending a concert, festival, theater performance or the Birthplace of Country Music Museum. If sports are more your speed, check out NASCAR’S Bristol Motor Speedway – the world’s fastest half-mile—or cheer on numerous college athletic teams including ETSU’s Buccaneers, the Tennessee Vols, Appalachian State University’s Mountaineers and smaller schools like King University’s Tornadoes, the Milligan Buffaloes and Emory & Henry Wasps.
Our state has abundant resources for fishing, hiking, boating, hunting, golfing, cycling, horseback riding, rock climbing, and more. It is the perfect place to embark on outdoor adventures at any time of year. Home to the Great Smoky Mountains and bordering the Appalachian Mountains, our region has 230 miles of internationally known rivers and 288 miles of the Appalachian Trail
Tennessee is one of the best areas in the nation for economic growth and development, entertainment, and outdoor fun. With high rankings across the board, our state brings in thousands of jobs and new residents annually. Your employees will enjoy the spectacular quality of life Tennessee has to offer.