Sunday, March 23, 2008

Growing into a recession?

The numbers are hard to argue against. Rutherford Rocks.
For instance, our community received some extraordinary rankings in 2007. In the September issue of US News & World Report, the magazine ranked Smyrna one of the top 10 best places to retire. Forbes ranked La Vergne 61st on its list of “America’s Fastest Growing Suburbs.” And once again, the Nashville-Davidson-Murfreesboro MSA was ranked as one of “America’s 50 Hottest Cities” in Expansion Management magazine.

There are many reasons why our county “rocks.”

For instance, we have the fifth largest and second fastest growing county in the state. Our county’s population is more than 200,000 with most people between the ages of 20 and 54.

We have an available workforce of 611,140 people. MTSU is the largest undergraduate university in the state.

Finally, an 80,000-square-foot conference center and all suite luxury Embassy Suites Hotel will open its doors later this year off Medical Center Parkway.
Now understand that these numbers are based on compiled data. data that is from last year or the year before. Current data cannot be placed into context until it is all in, so the current numbers are in question. Sadly one of the questions involves recession.
Is Rutherford County in a recession?

Well, it depends on whom you ask.

Most local experts admit that Rutherford County’s economy has slowed some but not to the speed of the rest of the country.

David Penn, executive director of the Business and Economic Research Center at MTSU, is reluctant to say Rutherford County is in a recession.

“I am not ready to say we are in a recession,” he said. “We need to see more losses for another couple of months, more severe losses to really convince me.”

By and large, Rutherford County is still experiencing growth in all segments of the economy but just not at the record-setting pace of a couple of years ago.

This isn’t necessarily a bad thing.

Rutherford County can’t keep up with that amount of growth, Penn said, referring to the cost of constructing new schools and roads.
Smyrna'a comprehensive plan is based on the growth of Smyrna and the surrounding community. No or slow growth and the plan slows. A while ago Mark O'Neal said that if the growth is not there, then the town will delay the plan till the city keeps up. No hammering ahead be-damned the numbers.

No comments: