The Boyd Center conducts research on behalf of multiple public entities to reveal key insights about the economy in Tennessee and across the nation, as well as the efficacy of public programs. Our research has appeared in publications such as The Economist, The Wall Street Journal, The New York Times, The Washington Post and The Tennessean.
Use the search field below to find Boyd Center for Business and Economic Research publications by title, author, or date of publication.
Tennessee Business and Economic Outlook, Spring 2014
Publication Date: June 1, 2014
In Tennessee, nonfarm employment will grow 1.6 percent in 2014 and 1.7 percent in 2014, slightly below natural rates of growth. Gains in manufacturing employment will begin to taper, growing by only 0.6 percent in 2014 and 0.2 percent in 2015. The state unemployment rate will fall to 6.5 percent in 2014 and 6.1 percent in 2015. Tennessee’s unemployment rate hasn’t fallen below 6.5 percent since 2008. Nominal personal income is projected to rise by 4.3 percent in 2014 and 4.7 percent in 2015. Taxable sales will expand by 3.4 percent in 2014 and 3.6 percent in 2015.
Promoting Advanced Manufacturing Clusters in Tennessee.
Publication Date: March 1, 2014
The University of Tennessee’s Center for Industrial Service (CIS) has a vision for a Tennessee manufacturing industry that is characterized by innovative and prosperous businesses, high-quality jobs, and a safe and healthy workplace. CIS seeks to identify and facilitate growth among advanced manufacturing industries in order to promote the economic well-being and fiscal health of Tennessee. Fostering economic growth requires a high-quality business environment that encourages innovation and rising productivity (Porter, 2001). Consequently, a focus on the development of advanced manufacturing, which is characterized by a higher educated workforce and higher rates of process innovation, may be one of the more direct routes towards further growth and prosperity. This report is supported by the University of Tennessee Center for Industrial Services, with funding from the University Center Program, Economic Development Administration; and the Manufacturing Extension Partnership Program, National Institute for Standards and Technology.
Tennessee's Manufacturing Sector Before and After the Great Recession
Publication Date: March 1, 2014
Tennessee, like the nation, is in the midst of a manufacturing renaissance. After years of trend decline and additional disruptions from the recession of 2001 and the Great Recession of 2007–2009, manufacturing employment has been on a rebound since 2011. Unfortunately, these employment gains are expected to be short lived. The long-range outlook for Tennessee projects employment in the state’s manufacturing sector will once again contract starting in 2018.
An Economic Report to the Governor of the State of Tennessee, 2014
Publication Date: January 31, 2014
This 2014 volume of An Economic Report to the Governor of the State of Tennessee is the 38th 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. Tennessee forecasts, current as of January 2014, are based on an array of assumptions, particularly at the national level, which are described in Chapter One. Chapter Two details evaluations for major sectors of the Tennessee economy, with an agriculture section provided by the University of Tennessee Agricultural Policy Analysis Center. Chapter Three discusses Tennessee’s role in the international economy and presents the long-run outlook and forecast for the state. Chapter Four presents manufacturing trends and advanced manufacturing in Tennessee. The primary purpose of this annual volume—published, distributed, and financed through the Tennessee Department of Finance and Administration, Tennessee Department of Economic and Community Development, the Tennessee Department of Revenue, the Tennessee Department of Labor and Workforce Development, and the Appalachian Regional Commission—is to provide wide public dissemination of the most-current possible economic analysis to planners and decision-makers in the public and private sectors.