New Analysis Shows Tennessee Has The 11th Best Economy In The Nation

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The Center Square [By Jon Styf] –

Tennessee was ranked as the 11th best economy in the country in a new analysis from WalletHub.

The rankings included the 50 states and District of Columbia, which ranked just ahead of Tennessee at 10th. The rankings included 28 metrics of economic performance and strength that were then broken down into three main groupings: Economic activity, economic health and innovation potential.

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Tennessee ranked fourth in economic activity, fifth in economic health and was 38th in innovation potential.

Tennessee topped the chart in change in gross domestic product from 2020 to 2021, a key factor in its economic activity ranking.

Tennessee saw an 8.6% growth rate in real GDP, just ahead of New Hampshire (8.5%) with California (7.8%) next.

Tennessee continued to improve its gross domestic product throughout the year, with a 9.9% growth rate that was second nationally, behind only Texas (10.1) between the third and fourth quarters of 2021.

“Real estate and rental and leasing increased 7.1 percent nationally and contributed increases in all 50 states and the District of Columbia,” according to the Bureau of Analysis of the U.S. Department of Commerce. “This industry was the leading contributor to the increases in eight states including Tennessee and Oregon, the states with the second and third largest increases.”

Innovation potential in the rankings included data on high-tech jobs, STEM employment, inventor patents, specific investments and entrepreneurial activity.

“Highly skilled workers value the same things we all do — communities that offer a high quality of living at a reasonable cost,” said Gregory Burge, Chair and Professor of Economics at the University of Oklahoma. “They want their communities to have great schools, thriving employment opportunities, public safety, plus accessibility to get into the central city for a concert or out to a lake for a day on the water. States that want to retain their top talent — and attract others to migrate in — should work to improve their public education and health programming – and should provide business leaders opportunities to thrive.

“Providing high-quality infrastructure to serve both the private and public sector is also critical.”

Washington, Utah, California and New Hampshire topped the WalletHub rankings while West Virginia, Alaska, Louisiana, Hawaii and Oklahoma ranked lowest.

About the Author: Jon Styf, The Center Square Staff Reporter – Jon Styf is an award-winning editor and reporter who has worked in Illinois, Texas, Wisconsin, Florida and Michigan in local newsrooms over the past 20 years, working for Shaw Media, Hearst and several other companies. Follow Jon on Twitter @JonStyf.