With the recent news that the State of Tennessee now ranks number five in the nation for median household income growth, it is time to take notice and pay attention to how Clarksville-Montgomery County stacks up.
Last week, the US Census Bureau released numbers for 2017 that reflect population, income and demographic trends. While some regions in the country are seeing their numbers grow increasingly stagnant and others are witnessing a loss, that is simply not the case for Clarksville and Montgomery County, Tenn. The county increased its annual median household income by $7,500 since 2014 with the city seeing an increase of over $9,500 during that same time. With a current median annual household income of $58,381 for the county and $54,667 for the city, both rank higher than the State of Tennessee average of $51,340. County poverty levels have also decreased to less than 10% and now rank lower than the state average. This is a number that hasn’t been seen in several years.
Income growth isn’t the only number rising. Population continues to trend upward as the county is now home to 200,182, up 16 percent since the 2000 census. It’s been calculated that the community is growing by eight people a day. And that is evident everywhere you look.
“Clarksville and Montgomery County both continually rank as some of the top places in the nation to live, buy a home, raise a family, start a business and/or retire; I could go on as the list has grown over the years,” said Mike Evans, Executive Director of the Clarksville-Montgomery County Economic Development Council (EDC). “The long-term vision of our community leaders has been to create an environment that fosters economic growth for all citizens through job creation and advancement in quality of place. We have seen that vision unfold and are working to ensure that the momentum doesn’t decelerate.”
Through strategic economic recruitment, the city-county has gained over $5 billion in capital investments and 7,600 new jobs from industrial-related projects since 2000. These commitments have created and maintained a thriving, highly sought-after Corporate Business Park. In 2017, Clarksville-Montgomery County manufacturing related jobs alone generated over $247 million in payroll, according to an EMSI data source. To make sure that the community stays competitive in the changing global marketplace and as highlighted in the EDC’s five-year strategic plan, future recruitment will focus on advancing white collar opportunities for residents.
The addition of jobs has created a booming retail, dining and real estate market. According to local real estate numbers, many houses have offers, sometimes multiple, less than 24 hours after being listed and the attractive cost of living is making people take notice of the region like never before. Shops, restaurants and small businesses open almost daily and with $2.9 billion in retail sales in 2017, the community is more than happy to shop local.
The community has strategically grown into its “fifth largest city in the state” ranking and is a key partner in the success of Northern Middle Tennessee. And the reasons are obvious, income is growing, cost of living is reasonable, job options are varied, the local commute times are low and the unemployment numbers are the best they have been in decades.