Williamson, Inc., the chamber of commerce and office of economic development for Williamson County, released the 2017 Williamson County Trends Report at their 4th Annual Outlook Williamson economic summit at The Factory in Franklin.
The event provided attendees with an understanding of a portion of Williamson, Inc’s business recruitment process, known as the Red Carpet Tour, in an effort to provide a snapshot of Williamson County’s economy using the latest emerging trends, growth projections and statistical data.
The Williamson County Trends Report is a 30-page statistical summary produced by Williamson, Inc. Economic Development that projects economic growth trends of Williamson County, from job growth, cost of living and demographics to education and workforce development, commercial real estate and transportation.
This year’s report features a new professional design with the intention of having better widespread appeal and use in the corporate business community. New in the report is a focus on transportation and how public infrastructure affects growth in the future. Here are some highlights from the report:
-The Williamson County economy is projected to grow from 123,689 jobs in 2016 to 158,244 jobs by 2026.
-Williamson County’s top 20 employers employ nearly 20,000 people and span a range of industries and occupations, with Community Health Systems and Nissan North America topping the list with 3,255 employees and 1,850 employees, respectively.
-As a percentage of income, Tennessee has the fourth-lowest overall tax burden per capita in the nation, only behind South Dakota, Wyoming and Alaska.
-56 percent of the Williamson County population has a bachelor’s degree or higher
-49 percent of the county’s workforce lives and works in Williamson County.
– The average daily traffic count on I-65 between Concord Road and Old Hickory Boulevard is 148,819.
-The greatest population change is expected within the senior population age 65 and over, which is expected to increase by 50 percent by 2026.
Findings throughout the report were based on survey data responses from Williamson, Inc. members, economic development investors, and industry contacts. A total of 1,215 out of 8,115 survey responses were collected. This response rate is up by 126% from 2016 (536 responses) and 213% from 2015 (387 responses).
These and other key findings were debuted at the half-day economic summit that featured presentations by economists, site selection consultants and commercial developers from the state Department of Economic and Community Development, Tennessee Valley Authority, Juniper CRE Solutions, Al. Neyer, Boyle Nashville, H.G. Hill Realty Company, and Spectrum | Emery.
A free copy of the 2017 Williamson County Trends Report is available for download at www.williamsonchamber.com.
The summit on Tuesday included:
Session 1: Understanding the Site Selection Process
The first session featured Heidi Smith, general manager for Global Business at TVA Economic Development, and Jamie Stitt, deputy assistant commissioner of business development for the Tennessee Department of Economic and Community Development.
Smith and Stitt talked about how various community and economic development organizations work together to recruit the best companies and bring high-quality jobs to the county.
Session 2: Why Williamson?
Dennis Burnside, president of Juniper CRE Solutions, and Scott Pollock, director of Juniper CRE Solutions, bring decades of experience with them to Outlook Williamson. They lead participants of Session Two in a hands-on “site-selection” activity, as well as discussing what sets a community apart during the business relocation process.
Session 3: Commercial Real Estate Developers
Four commercial real estate developers participated in a panel discussion on the current real estate climate, emerging trends, and the future of office and mixed-use developments in Williamson County.