Boyd Center - Publications

This study examines the economic impact that construction, operation, and tourism associated with Nashville hosting four World Cup soccer matches during one month in 2026 would have on the Tennessee economy. The games would be held at Nashville’s Nissan Stadium, the current home of the Tennessee Titans. The economic impact from hosting the games would come from the construction of new/renovated facilities, operations of the games themselves, and tourism that arises as visitors come to Nashville to attend the World Cup games and associated events. Tourism will generate most of the World Cup’s economic effects, but construction, and spending at the matches will also generate economic activity for the state. This analysis focuses on the one-time economic impact of hosting the World Cup in 2026, but the attention Nashville receives from being thrust onto the world stage could offer much longer-term economic gains.

Over recent years, the natural gas industry has undergone significant restructuring in response to Federal deregulation initiatives. As a result, natural gas services are now purchased individually, as opposed to a bundled product, and the nation’s interstate pipeline companies are subject to open access, offering the promise of increased competition and reduced upward price pressure. Market players, including local distribution companies, pipeline transporters, major industrial consumers and state public utility commissions, continue to adapt to the changing economic landscape.

This 2022 volume of An Economic Report to the Governor of the State of Tennessee is the forty-sixth in a series of annual reports compiled in response to requests by state government officials for assistance in achieving greater interdepartmental consistency in planning and budgeting efforts sensitive to the overall economic environment. Both short-term, or business cycle-sensitive forecasts, and longer-term, or trend forecasts, are provided in this report. The report’s special section, the State of the Labor Market in Tennessee, reviews the labor force recovery from the initial pandemic shock.

As part of a modernization effort, KUB plans to upgrade its electrical grid by installing an extensive fiber system, which will provide a more reliable electricity service, better efficiency, and shorter downtimes in the event of power outages. The fiber system would also enable KUB to offer cheaper, ultra-fast internet to all households and businesses in its electric grid service area. This report documents the various benefits associated with expanding access to ultra-fast internet connections.

The Boyd Center for Business and Economic Research at the University of Tennessee, under contract with the Department of Finance and Administration of the State of Tennessee, conducted a survey of Tennessee residents to ascertain their insurance status and use of medical facilities and their level of satisfaction with the TennCare program. A target sample size of 5,000 households allows us to obtain accurate estimates for subpopulations. The Boyd Center prepared the survey instrument in cooperation with personnel from the Division of TennCare.

Many business leaders from across Tennessee responded to the Boyd Center’s semi-annual Business Leaders Survey, providing a unique perspective on Tennessee and the nation’s economy. Responses were provided between August 9 and August 23, 2021. Respondents, nearly 60 percent of whom are CEOs or company owners, represent a broad sample of Tennessee’s businesses, both by size and by industry.

The Boyd Center for Business and Economic Research at the University of Tennessee, under contract with the Department of Finance and Administration of the State of Tennessee, conducted a survey of Tennessee residents to ascertain their insurance status and use of medical facilities and their level of satisfaction with the TennCare program. A target sample size of 5,000 households allows us to obtain accurate estimates for subpopulations. The Boyd Center prepared the survey instrument in cooperation with personnel from the Division of TennCare.

Many business leaders from across Tennessee responded to the Boyd Center’s second Business Leaders Survey, providing a unique perspective on Tennessee and the nation’s economy. Responses were provided between January 19 and February 1, 2021, which represents a very challenging time in the nation’s economy because of continuing COVID-19 issues.

Business formation is a critical component of local and national economic growth. The creation of new jobs and establishments from newly minted firms helps ensure the vitality of entrepreneurial activity in the United States. However, Pugsley and Sahin (2019) document a prominent and problematic 30-year decline in new employer business startups, something closely linked with “jobless recoveries.” This is especially concerning given that nearly 20 percent of entrepreneurship stems out of necessity, as opposed to opportunity, during cyclical downturns (Fairlie and Fossen, 2019). The extent to which new firms are able to begin operating as innovative vessels during depressed economic times directly influences the pace at which the national economy can recover to pre-recession levels.

This 2021 volume of An Economic Report to the Governor of the State of Tennessee is the forty-fifth in a series of annual reports compiled in response to requests by state government officials for assistance in achieving greater interdepartmental consistency in planning and budgeting efforts sensitive to the overall economic environment. Both short-term, or business cycle-sensitive forecasts, and longer-term, or trend forecasts, are provided in this report.