New Businesses Continue Moving Into Tennessee
New business filings continue to rise in the state of Tennessee. The Tennessee Quarterly Business and Economic Indicators report issued by Secretary of State’s office shows that there were 19,983 new business filings in the state in the second quarter of 2021…that’s the highest quarterly total ever recorded…and the second month in a row where the previous record had been broken. Those numbers mark a whopping 61.6% increase in filings from the 2nd quarter in 2020. Almost half…48.9% of the new business filings were located in the states 4 most populous counties…Shelby, Davidson, Knox and Hamilton. The record increase in this year’s second quarter means that Tennessee has seen positive year-over-year growth in initial filings for 38 consecutive quarters…which is a testament to the business friendly climate in the state. The unemployment rate continues to be below the federal average of 5.4% with Tennessee’s sitting at just under 5 at 4.9%.