The Town of Farragut has been named the Most Business Friendly City in Tennessee for 2011, by the Beacon Center of Tennessee. This is Farragut’s second time topping the list as Tennessee’s Most Business Friendly City, it topped the list 5 years ago, in 2006.
The Beacon Center of Tennessee was founded as the Tennessee Center for Policy Research. It it nonprofit and nonpartisan research organization which promotes a freer, more prosperous Tennessee. The study title, “How Business Friendly are Cities in Tennessee 2011?,” scores each city in three different categories. The first is Business Tax Burden which looks at city property tax rates and tax on gross receipt of sales. The second category is Economic Vitality. It rates each city based on job and population growth along with median per capita income, which are all factors that show a city’s resilience during a difficult economic climate. Community Allure is the final category, which counts for a smaller percentage of each city’s total score. This category examines cost of living, education performance, crime rates, and individual tax burdens that play an overall role in how appealing a community can be.
Farragut has many aspects which can account for its top ranking as the Most Friendly City in Tennessee 2011. The Farragut community carries low tax burden, which is why it scored a perfect score in the Business Tax Burden category. The Town of Farragut also enjoys a low crime rate, high education scores, and has seen strong job growth compared to other cities in Tennessee, which helped the community score third in the Economic Vitality category and eighth in the Community Allure Category out of a total of 50 Tennessee cities. The other cities that were included in the Top 5 were: (2) Brentwood, (3) Franklin, (4) Mt. Juliet, and (5) Spring Hill, which are all suburbs of Nashville.
The Town of Farragut has a great deal to offer residents. With Turkey Creek and businesses like Costco and Publix recently announcing their plans to come to the area, the area has seen a lot of growth even in this difficult economic climate. The schools for the Farragut area, which are all part of the Knox County School System, have high test scores and graduation rates. Farragut High School has higher ranking SAT and ACT scores well above the national average for the 2010 school year. The area also has wide variety of affordable housing options. If you are considering moving to the Farragut area, please let me know if there is anything I can assist you with. Give me a call at 865-696-9002, shoot me an email or leave a comment on this post.