five takeaways on new amazon hub coming to nashville

amazon announced the company is investing $230 million and 5,000 jobs in a new operations hub in nashville today. here are five things to know:

1 • it will be the east coast hub for tech and management functions, including software development, customer fulfillment, customer service, transportation & supply chains, among others.

2 • the amazon site will be located in the upcoming nashville yards, a 15-acre development on the former lifeway lot downtown. the nashville yards stretches from church street to broadway near interstate 40 with plans for shops, restaurants, office space, hotels, residential, and a 1.3 acre park.

3 • nashville was not chosen as the second headquarters location (long island city in new york and crystal city, virginia will split those responsibilities) but this decision does still mark huge job gains for the city. even though being chosen could have meant upwards of 50,000 jobs, amazon’s decision is the largest job announcement for the city ever (and the state via governor haslam).

4 • amazon will receive performance-based incentives of up to $102 million, provided the company creates 5,000 jobs with average wages greater than $150,000. they expect to recruit both locally and outside the area.

5 • amazon currently already employs 2,500 across nashville within their four distribution centers.

 

 

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nashville job market ranks 41st in the country

nashville’s job market ranks 41st in the country in a recent quarterly employment ranking by on numbers.  boston tops the list this time around.  here are how scores are determined:

50% of each market’s score is based on its private sector growth rates in the last 5 years.

30% on the market’s jobless rate over the past 12 months

20% on raw changes in the private sector employment in the last half decade

nashville didn’t fare terribly well with the private sector growth (-2.84%) or our jobless rate (unemployment rose from 8.6% in june 2010 to 9% in june 2011) although not as bad as other markets.  our market’s growth rate however, continued to rise 1.35%.  here’s the top 10:

1-boston, ma

2-ogden, utah

3-worcester, ma

4-dallas-fort worth, tx

5-houston, tx

6-oklahoma city, ok

7-omaha, ne

8-akron, oh

9-rochester, ny

10-grand rapids, mi

…and the bottom 10:

91-los angeles, ca

92-sacramento, ca

93-modesto, ca

94-memphis, tn

95-las vegas, nv

96-cape coral-fort myers, fl

97-stockton, ca

98-palm bay-melbourne, fl

99-riverside-san bernardino, ca

100-fresno, ca