Business Briefs: Business filings up 11% in Hamilton County

Staff photo by Doug Strickland / 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. Staff photo by Doug Strickland / 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 Staff and Wire Reports November 15, 2019 3 min read

Initial business filings in Hamilton County rose during the third quarter by 11% over the same period a year earlier, suggesting that business starts and economic activity in Chattanooga should continue to grow in the new year ahead.

The Tennessee Secretary of State’s office reported Friday that 799 more businesses in Hamilton County filed papers with the state to start new operations, outpacing the strong statewide growth rate of 8.2%.

“Changes in new entity filings are a good leading indicator for non-farm employment, personal income, and total tax revenue growth in Tennessee,” said Dr. Bill Fox, director of the Boyd Center for Business and Economic Research at the University of Tennessee, which prepared the report on the three-month period ended Sept. 30. “Third quarter growth in new entity filings suggests continued economic momentum in the state for the near term.”

Combined with other employment, tax and income data, Fox said the state’s economy continues to grow.

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