An abnormally harsh winter led to lackluster economic growth the first quarter of 2014, but a dip in unemployment rates and expected increases in housing investments signal stronger gains for the remainder of the year. The gross domestic product is expected to increase 2.4 percent this year as a whole, compared to 1.9 percent last year, according to the spring 2014 Tennessee Business and Economic Outlook released today by UT’s Center for Business and Economic Research.
Center for Business and Economic Research News
Tennessee’s new business filings increased in the first quarter of this year compared with the same period in 2013, suggesting strong economic growth, according to a new report released Thursday by the Secretary of State’s Office and the UT Center Business and Economic Research. The Tennessean featured the report, which showed that new-entity filings, mostly
The Center for Business and Economic Research last week released its spring 2014 Economic Report to the Governor. The report shows US and Tennessee economies are poised for strong growth in 2014 and 2015. It also shows that the state’s unemployment rate will fall from an average of 8.2 percent in 2013 to 7.5 percent in 2014
After five years of sluggish recovery, the US and Tennessee economies are poised for strong growth in 2014 and 2015 according to the forecast in the 2014 Economic Report to the Governor of the State of Tennessee, released today. The study, prepared by UT’s Center for Business and Economic Research, predicts the course of the state and national economies by examining many fiscal factors and trends.
This holiday season is the last for Tennessee residents to buy items on Amazon without having to pay state and local sales taxes. Bill Fox, a UT economist and widely recognized expert on e-commerce’s impact on sales taxes, was featured in the Chattanooga Times Free Press where he said said the new tax law “doesn’t solve the broader issue of the inability to collect tax on remote commerce.”
Overall enrollee satisfaction with the TennCare program is at its highest level, according to a UT report released today. Ninety-five percent of TennCare recipients surveyed expressed satisfaction with the care they received, the highest level since the program’s inception. This finding is included in “The Impact of TennCare: A Survey of Recipients 2013,” prepared by UT’s Center for Business and Economic Research.
The Washington Post highlighted the research of Bill Fox and the Center for Business and Economic Research that shows how a small-business exemption could undermine online sales tax legislation. The research suggests that a small-business safeguard could actually undermine some of the original intent of the legislation.
Bruce Behn, head of the Department of Accounting and Information Management in the College of Business Administration and a faculty fellow in the college’s Center for Business and Economic Research, has received special awards from the American Institute of Certified Public Accountants and the American Accounting Association.
In spite of reduced federal spending, a global slowdown, and a conflict in Syria that has contributed to rising oil prices, the national and Tennessee economies are still growing. The growth will continue through this year and is expected to accelerate in 2014 and beyond, according to the forecast in the fall 2013 Tennessee Business and Economic Outlook released today. The study predicts the course of the state and national economies by examining many economic and fiscal factors and trends.
A UT research study shows Volkswagen’s assembly plant in Chattanooga is responsible for more than $643 million in annual income. The facility has created 12,400 fulltime jobs, including suppliers and associated businesses, and is pumping $53.5 million of tax dollars into state and local government coffers, according to the study conducted by the Center for Business