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UT report: State economy looking more robust as year end approaches

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Matt Murray

Matt Murray

KNOXVILLE—More jobs. An unemployment rate that’s trending down. Increasing personal income.

Thanks to these gains, there is a positive ring to this fall’s Tennessee Business and Economic Outlook report prepared by the Center for Business and Economic Research at the University of Tennessee in Knoxville.

“Tennessee’s economic outlook is very similar to the national outlook, with moderate to strong growth expected for the second half of the year and a continuation of growth through 2015,” said Matt Murray, associate director of CBER, who directed the report.

Job growth [Read more…]

UT study: Lackluster growth in first quarter, but overall gains expected in 2014

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KNOXVILLE—An abnormally harsh winter led to lackluster economic growth the first quarter of 2014, but a dip in unemployment rates and expected increases in housing investments signal stronger gains for the remainder of the year.

The gross domestic product is expected to increase 2.4 percent this year as a whole, compared to 1.9 percent last year, according to the spring 2014 Tennessee Business and Economic Outlook released Friday at the University of Tennessee in Knoxville.

The national unemployment rate will likely average 6.5 percent this year compared to 7.4 percent last year, the report shows. It is expected to decrease to 6 percent in 2015.

The study, prepared by UT’s Center for Business and Economic Research, predicts the direction of the state and national economies by examining many economic and fiscal factors and trends. [Read more…]

2013 record-breaking year for Roane County and Roane Alliance

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Leslie Henderson

Leslie Henderson

Submitted by Roane Alliance

$150 million worth of new development opened

KINGSTON—To The Roane Alliance—and to many across Roane County—2013 will be remembered as one of the busiest years ever, with record-setting activity in major grand openings, business expansions, and in state-wide, national, and international recognition and awards.

“Most impressive were grand openings of more than $150 million worth of new development projects,” said Leslie Henderson, president and chief executive officer of The Roane Alliance, “including the new $76 million hospital in Midtown, the $35 million carbon fiber manufacturing research facility in Oak Ridge, and the $40 million Volkswagen 460,000-square-foot distribution facility along I-40 in east Roane.”

Henderson said in the report that in 2013 Roane County also saw records set in numbers of announced expansions of existing industry and also in a record number of recognitions and awards for Alliance programs’ accomplishments. [Read more…]

UT report to governor: Economy to see stronger growth in 2014 and 2015

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Matt Murray

Matt Murray

KNOXVILLE—After five years of sluggish recovery, the U.S. and Tennessee economies are poised for strong growth in 2014 and 2015.

Despite the slow pace of the recovery, many indicators—including an increase in consumer confidence, rallying stock market prices, and rising home prices—point to brighter growth prospects in the quarters ahead, according to the forecast in the 2014 Economic Report to the Governor of the State of Tennessee, released Friday.

The study, prepared by the Center for Business and Economic Research at the University of Tennessee in Knoxville, predicts the course of the state and national economies by examining many fiscal factors and trends.

Household net worth grew by almost 10 percent in 2013, surpassing its pre-recession level for the first time. [Read more…]

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