Power Poll: Local leaders see Chattanooga economy heating up

Buildings inside a proposed Business Improvement District are seen on Tuesday, April 16, 2019, in Chattanooga, Tenn. The proposed district would encompass downtown Chattanooga from the Riverfront to 11th Street and from U.S. Highway 27 to different areas bordered by Cherry Street, Lindsay Street and Georgia Avenue. Buildings inside a proposed Business Improvement District are seen on Tuesday, April 16, 2019, in Chattanooga, Tenn. The proposed district would encompass downtown Chattanooga from the Riverfront to 11th Street and from U.S. Highway 27 to different areas bordered by Cherry Street, Lindsay Street and Georgia Avenue.

By Dave Flessner July 19, 2019 2 min read

Chattanooga’s economy appears to be heating up with the summertime weather, according to local leaders.

Among business, political and community leaders surveyed this week in the newest Power Poll, 75% of respondents said the local economy is warming up and 24% described Chattanooga’s economy as hot. Only one of the 79 leaders responding to the Power Poll said Chattanooga’s economy is cooling or is cold.

Asked about the direction of the local economy, 56% of the local leaders said it is stable and 25% said it is warming. The other 19% said the economy is cooling.

The economic recovery from the Great Recession became the longest period of sustained U.S. economic growth in modern history this summer. Although economic worries and lower-than-forecast inflation are expected to soon lead the Federal Reserve to cut interest rates, few economists are predicting a recession in the near future.

In the Chattanooga area, the jobless rate has been below the U.S. average for the past three years and new investment continues to pour millions of dollars into local projects.