FOR IMMEDIATE RELEASE
August 5, 2014
Contact: Executive Director of Tullahoma Area Economic and Development Corporation (TAEDC),
C. Thomas Robinson, 931.455.2282
Tullahoma-Manchester Named Top Micropolitan Area
Rankings based on rapid, consistent growth in both size and quality for an extended period of time
In a research report released in May 2014 by POLICOM Corporation, the Tullahoma-Manchester Micropolitan Statistical Area (McrSA) ranked first in the state of Tennessee and sixty-sixth nationally out of the 536 McrSAs in the United States.
“The POLICOM Economic Strength Ranking is great news as an indicator for our local economy. It is important because businesses interested in locating to Tullahoma use this data for market research,” said Mayor Lane Curlee.
These rankings run parallel to the growth that is being reported at the local level. As reported in the Mayor’s State of the City Address, the City of Tullahoma will complete nearly $1,000,000 in street paving and finalize approximately $2,000,000 in improvements to our regional airport thanks to state and federal grant monies. Additionally, the Fire Department will receive a much needed fire rescue pumper, and Public Works will receive a badly-needed residential garbage truck.
“This ranking represents our commitment to continuing the growth and success of this community through economic development. Increasing investment in our community takes a cooperative effort from the town, county and the private sector. We appreciate the recognition and look forward to building the future,” said Mayor Curlee. “Being recognized by POLICOM Corporation this year is a testament to our pro-business climate, outstanding school system and exceptional quality of life.”
Local companies are expanding, entering new markets and hiring employees. The unemployment rate for the Tullahoma-Manchester McrSA went from 7.2% to 6.2% in this past year. Investors are gaining confidence in Tullahoma.
“We are pleased that Tullahoma has been recognized for its economic strength,” said Executive Director of the Tullahoma Area Economic Development Corporation (TAEDC), C. Thomas Robinson. “Tullahoma is an economic engine for our region, and this index confirms that we are being successful in achieving growth that enhances the places we live, work and play.”
“According to the research, the highest ranked areas, such as Tullahoma, have had rapid, consistent growth in both size and quality for an extended period of time,” said POLICOM Corporation President, William Fruth.
POLICOM Corporation is an independent economics research firm based in Palm City, Florida, which specializes in analyzing local and state economies and economic development. The index takes into account the condition of the economy from the viewpoint of its impact upon the standard of living of the people who live and work in the area.
An McrSA in the United States is defined by the Office of Management and Budget (OMB) as urban areas based around an urban cluster with a population of 10,000 to 49,999. The designation is based on the city’s core population and not that of the whole area. Like the better-known Metropolitan Statistical Area, a Micropolitan Statistical Areas is a geographic entity used for statistical purposes based on counties and county-equivalents.
“This data is exciting because it shows how Tullahoma has improved in economic strength fairly consistently,” said Executive Director of the Tullahoma Area Chamber of Commerce, Diane Bryant. “Our business-friendly environment, dependable work force, excellent quality of life and superior public school systems provide potential employers with a wide range of positive reasons to locate here. This favorable business climate is no accident. It is the result of community leaders and our citizens working to make our area a great place to live.”
“This ranking is consistent with the broader upward trend we are experiencing. Retails sales are up 3.11% year over year, and new home starts are continuing to trend upward. The motel tax year-to-date is up 14.9% year over year and the general fund expenditures are proceeding according to budget,” said City Administrator, Jody Baltz. “
Tullahoma is the hub in southern, middle Tennessee for aviation, medical, retail and entertainment. Over 150,000 area citizens look to Tullahoma for services not available in their communities. The economy is diverse and stable because of the 755 businesses located in the City.
About POLICOM Corporation
Economic Strength Rankings