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Tracking Tennessee’s Economic Recovery

Tracking Tennessee’s Economic Recovery. David A. Penn, Director and Associate Professor Business and Economic Research Center Jennings A. Jones College of Business Middle Tennessee State University 615-904-8571 www.mtsu.edu/berc. Purpose of the project.

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Tracking Tennessee’s Economic Recovery

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  1. Tracking Tennessee’s Economic Recovery David A. Penn, Director and Associate Professor Business and Economic Research Center Jennings A. Jones College of Business Middle Tennessee State University 615-904-8571 www.mtsu.edu/berc

  2. Purpose of the project • BERC will develop and maintain web-based economic indicators for Tennessee. • Provide the public a one-stop site to learn about the current condition of Tennessee’s economy. • Information will be provided at various levels of detail. • Goal: provide a current, updatable method for tracking Tennessee’s economic recovery.

  3. Tasks for this project • Determine information content for the website – types of indicators, geography, brief analysis. • Write computer programs and website code – automate data updates, imbed real time graphs. • Designate target dates for updates. • Maintain and update for 12 months.

  4. Conceptual Layout State Summary Summary Level (text, summary tables, charts) Metro Area Summary Detailed Level (detailed tables and downloadable data) State Detail Metro Area Detail

  5. Tennessee Recovery Website • Provide information in a range of formats • Brief analyses of current conditions • Tabular summary data • Detailed downloads for more intensive users • Provide comprehensive information • State and metropolitan areas • All the major current indicators

  6. Geography • Tennessee • Metropolitan areas • Chattanooga • Clarksville • Cleveland • Jackson • Johnson City • Kingsport-Bristol • Knoxville • Memphis • Morristown • Nashville

  7. Available indicators

  8. Website design • Criteria: • Easy to use and find information. • Layout that emulates the TACIR website. • Operated on MTSU server, but appears to be part of TACIR website.

  9. Need • Data users and the general public are hungry for easily-accessible comprehensive information about the Tennessee economy. • Currently the data are fragmented and difficult to access.

  10. Potential future projects • Provide data regarding long-term growth • Population • Gross regional product • Income and earnings by industry • Wages and employment by industry • Data are less current (at least one year behind) but offer much more detail.

  11. Data now on the BERC website • Nonfarm employment by industry for Nashville and Tennessee • Initial unemployment insurance claims for Tennessee • Labor force data for Nashville and Tennessee • Permit-authorized housing construction • Labor force data by county • Nashville MSA economic indicators

  12. Initial claims for unemployment insurance

  13. Initial claims for unemployment insurance

  14. Nashville MSA Indicators

  15. Labor force indicators

  16. Unemployment rates by county

  17. About the Business and Economic Research Center • Publications • Outreach and Information • Research

  18. BERC publications

  19. Business and Economic Research Center • Publications (www.mtsu.edu/berc) • Tennessee’s Business • Three times annually • In-depth discussion of one important issue • Midstate Economic Indicators • Analysis of current economic conditions in middle Tennessee • Four times annually • Global Commerce • The source of information and analysis regarding Tennessee and international trade. • Four times annually

  20. Business and Economic Research Center • Outreach and Information • Speeches and presentations • Real estate investors group Nashville • Concrete management group Nashville • MTSU outlook conference Sept. 24 • Quotes in media (newspapers, television, radio) • Website data • Labor force and unemployment database • Weekly unemployment insurance claims

  21. BERC Media Quotes

  22. Current Projects at the BERC Estimating costs of providing health care services to Native American tribes. Sponsor: United Southern and Eastern Tribes, Indian Health Service. Estimating underemployment in south central Tennessee. Workforce Solutions. Tennessee housing market reports. Tennessee Housing Development Agency. Estimating the impact of the heath care industry in the Nashville area. Nashville Health Care Council. Estimating potential benefits of a port in northwest Tennessee. Northwest Tennessee Port Authority.

  23. Current Projects at the BERC Estimating the economic impact of a prison industry. TRICOR. Analysis for the Rutherford County comprehensive plan. Parsons Brinkerhoff. Tracking Tennessee’s economy. TACIR.

  24. Tracking Tennessee’s Economic Recovery David A. Penn, Director and Associate Professor Business and Economic Research Center Jennings A. Jones College of Business Middle Tennessee State University 615-904-8571 www.mtsu.edu/berc

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