Media

Tennessee's Population Growth Trails National Average
(WBIR and WFTZ, December 31, 2013)

States that saw big growth have been spurred by special circumstances, said David Penn, director of the Business and Economic Research Center at Middle Tennessee State University. He pointed to oil and gas industry growth in North Dakota, Oklahoma and Texas, and states rebounding from the housing crunch, as the ones now outpacing the national rate.

Tennessee Foreclosure Starts Back to '06 Levels
(Nashville Post, December 19, 2013)

The housing market in Tennessee continues to improve, says David Penn of MTSU's Business and Economic Research Center, but not as quickly as it has in recent quarters.

Nov. Kingsport-Bristol, Johnson City MSA Job Sector Winners and Losers
(Kingsport Today, January 7, 2014)

MTSU's Business and Economic Research Center has filed the last component for the Tri-Cities November jobs story.

Tri-Cities Retail Sales Tax Collections Lead East Tennessee November Pace
(Kingsport Today, January 4, 2014)

Here's what November's adjusted collection totals looked like when compared to October, according to the Business and Economic Research Center at MTSU.

Economic Impact of Nonprofit Groups in Nashville Area with Dr. Murat Arik
(YouTube, from MTSU "On the Record," December 17, 2013)

Dr. Murat Arik, associate director of MTSU's Business and Aerospace Center, explains his study of nonprofit organizations in the Metro Nashville area. Among Arik's findings is the fact that nonprofits bring in $2.7 billion to the local economy from outside the region. To hear the recorded interview, go to www.mtsunews.com and scroll down to "Audio Clips" beginning Dec. 16.

Tennessee County Officials: Municipalities Need Right to Tax Hotels
(Tennessee Watchdog, December 9, 2013)

Quoting a new feasibility study written by Middle Tennessee State University officials, Hutto said visitors would have business that lasts more than a day at the Expo Center. That would require them to use area hotels—and pay for the tax revenue needed to fund it, he said.

Study Shows Value of Expo Center

(Wilson Post, December 6, 2013)

A feasibility study about a proposed Expo Center at the James A. Ward Agricultural Center commissioned by the Wilson County Commission yielded a lot of information at Wednesday night's meeting. Conducted by the Business and Economic Research Center at Middle Tennessee State University, the study accomplished its goal, according to Wilson County Finance Director Aaron Maynard.

Opportunities Abound for Expo Center
(Lebanon Democrat, December 5, 2013)

The Wilson County Commission heard the preliminary results of a feasibility study regarding a possible Expo Center Wednesday. Murak Arik presented to commissioners the findings of the study performed by Middle Tennessee State University.

Nonprofits Impact Nashville Economy
(Nonprofit Quarterly, November 8, 2013)

In 2012, NPQ ran a story about a study of the economic impact of the nonprofit sector in Oregon. Recently, a similar study was conducted by a team from the Middle Tennessee State University and commissioned by the Center for Nonprofit Management in Nashville.

MTSU BERC: Tennessee Export Growth "Anemic" in 2nd Quarter
(WMOT, October 22, 2013)

Dr. Steven Livinston, an export specialist with the Business and Economic Research Center at Middle Tennessee State University, says Tennessee exports surpassed $8 billion for the first time in the second quarter of this year. One Tennessean in five depends on exports for employment.

Middle Tennessee's Economy: What a Difference a Year Makes
(SouthPoint, Federal Reserve Bank of Atlanta, October 8, 2013)

At the end of September, Middle Tennessee State University's Business and Economic Research Center hosted the school's annual economic outlook conference. In October of 2012, we reported on the presentation by the center's director, Dr. David Penn. . . . In 2012, his forecast was not particularly upbeat. . . . Fast-forward a year, and the economic picture is much brighter, according to Dr. Penn's presentation at this year's conference.

Tennessee Economy Said to Be Improving Despite Stagnant Jobs Climate
(tnreport.com, October 3, 2013)

Although Tennessee's unemployment rate has remained unchanged for the past three months, the state's economic outlook is nevertheless improving, driven by growth in the Middle Tennessee region. That was the take-home message from Dr. David Penn, director of the Middle Tennessee State University Business and Economic Research Center, who delivered remarks at MTSU's Economic Outlook Conference on Sept. 27.

Tri-Cities Retail Sales Tax Collections Hit Year-to-Year High in August, but. . . .
(Kingsport Today, October 1, 2013)

Tri-Cities retail sales tax collections saw their best year-to-year performance in August. Compared to August last year collections in the seven-county area were up 5.6%. And, according to MTSU's Business and Economic Research Center seasonally adjusted totals they were 2.3% better than July.

Last Week's MTSU Economic Conference Shows Rutherford County is DOING GREAT!!!!
(WGNS, September 30, 2013)

BERC director David Penn provided an exhaustive update at the half-day conference, showing statistics on statewide and Midstate economic indicators such as employment rates, income growth, sales tax collections, housing starts and manufacturing, to name a few. You can review Penn’s presentation online at www.mtsu.edu/berc.

Economists Have Mostly Good News for Mid-State Businesses
(WMOT, September 30, 2013)

Economist David Penn, Director of the Business and Economic Research Center at Middle Tennessee State University, noted that Middle Tennessee has one of the hottest job markets in the country.

Economic Experts Offer Optimistic Outlook
(Murfreesboro Post, September 29, 2013)

Middle Tennessee continues to see solid economic growth despite a statewide unemployment rate that has remained the same for three months, said David Penn, a professor of economics at Middle Tennessee State University.

Possible Federal Shutdown Cited as Threat to Economy
(Shelbyville Times-Gazette, September 29, 2013)

Dr. David Penn of MTSU's Business and Economic Research Center, another fixture of the annual conference, reported on local economic trends, and agreed that the battles in Washington weren't helpful.

Rutherford Job Growth Soars
(Tennessean, September 28, 2013)

Population growth in Middle Tennessee was up 6.7 percent, but the number of new households generated did not grow quite as fast, according to Penn.

Conference Experts Mostly Optimistic about Economy (+ video)
(MTSU News, September 27, 2013)

Though the unemployment rate still remains higher than pre-Great Recession levels in Rutherford and other midstate counties, upward trends in job growth rates, housing permits, and construction point to a stronger economic future for the region. "It's mostly good news," said professor David Penn, director of the MTSU Business and Economic Research Center, during his presentation Friday at the annual MTSU Economic Outlook Conference inside the Student Union. "I really had to look for some bad news."

County Job Growth Ranks High Nationally
(Daily News Journal, September 27, 2013)

"Rutherford County, when you pull both private and government jobs, it's ranked sixth in the largest 334 largest counties in the United States," said David Penn, director of the MTSU Business and Economic Research Center, who delivered the annual Midstate economic update at the conference.

Jobs Keep Coming, but Tennessee Companies Struggle to Find Qualified Workers
(Tennessean, September 5, 2013)

"Last month, we had 60,000 people still looking for work in Middle Tennessee, and that has been going up over the past nine months," said David Penn, director of the Business and Economic Research Center at the Jones College of Business at Middle Tennessee State University.

MTSU Professors: Syrian Conditions Grow Worse
(Daily News Journal, August 29, 2013)

"There's apparently going to be a very limited level of involvement," said David Penn, director of the Business and Research Center at the Jones College of Business at MTSU. "We're not going to have people on the ground there."

Wilson County Lands Rodeo Competition
(Tennessean, August 28, 2013)

The economic impact study is being done by Middle Tennessee State University for $15,000.

Job Heat Charts Show Some Johnson City MSA, Kingsport-Bristol Labor Sectors Struggling
(Kingsport Today, August 27, 2013)

Middle Tennessee State University's Business and Research Center came out with its July jobs heat charts this week for the Kingsport-Bristol and Johnson City MSA. The charts compare the percentage growth of each market's 12 labor sectors to the same month of the previous year.

Moon Pie Dreams and Start-Up Wishes
(National Journal, August 22, 2013)

"Chattanooga is still down in manufacturing jobs and still down in its total jobs," says David Penn, an associate professor of economics at Middle Tennessee State University. "It is pulling itself out of the recession trough, but not as fast as some other places in Tennessee, like Nashville or Knoxville."

The Chattanooga Miracle Leaves Out the Working Class
(National Journal, August 21, 2013)

"Chattanooga historically has been very focused on manufacturing," says David Penn, an associate professor of economics at Middle Tennessee State University. "It has made some gains in manufacturing with the Volkswagen plant, but it's still down in manufacturing jobs and still down in the total number of jobs." Penn commends the city for trying to diversify its economy by encouraging growth in tech companies and manufacturing, alongside more traditional companies such as Chattanooga Bakery or the insurance company Unum.

Freshmen Prepare for APSU Move-In Day
(Clarksville Now, August 20, 2013)

Last year, the Business Economic Research Center (BERC) at Middle Tennessee State University looked at APSU’s impact on the regional economy and found that, on a per capita basis, every 100 new APSU students create $2.18 million in local business revenue, 30 new local jobs and $127,000 in state and local taxes.

Freshmen to Arrive at APSU on Aug. 22
(apsu.edu, August 20, 2013)

Last year, the Business Economic Research Center (BERC) at Middle Tennessee State University looked at APSU’s impact on the regional economy and found that, on a per capita basis, every 100 new APSU students create $2.18 million in local business revenue, 30 new local jobs and $127,000 in state and local taxes. The report also stated that APSU-related activities account for nearly $234 million in business revenue and $13.63 million in state and local taxes for the Clarksville area and $201.2 million in business revenue and $11.24 million in state and local taxes for the Montgomery County area.

Chattanooga's Makeover Secret: A River Runs Through It
(National Journal, August 19, 2013)

The river made downtown Chattanooga hip: a place for residents and tourists to hang out, walk around, and spend money. David Penn, an economist at Middle Tennesee State University, visited the city one Labor Day weekend in recent years only to be surprised by the crowds near the aquarium. "In terms of making it a place people want to live, city officials have done that," he says.

State Lagging, but Knox Job Numbers Show Slight Uptick
(Knoxville News Sentinel, July 26, 2013)

The Business and Economic Research Center at Middle Tennessee State University has released its latest update of economic indicators for the state. Seasonally adjusted nonfarm employment dropped 0.6 percent in June, the largest one-month decline since 2009, according to the report.

June Is Another Down Mnth for Tri-Cities Jobs Compared to Last Year; Where the Cuts Came
(Kingsport Today, July 25, 2013)

MTSU has posted the June 2013 v. 2012 jobs heat chart comparisons and the picture isn’t especially pretty in the Tri-Cities.

Is Tennessee's Rising Unemployment Rate A Data Glitch?
(WPLN, July 23, 2013)

Middle Tennessee State University’s David Penn says there may be a problem with some of the household survey data that feed into the unemployment rate.

Unemployment Rises despite Yearly Job Gains
(Times Free Press, July 19, 2013)

"We're seeing improvement in most areas of the economy and I think we're moving in the right direction despite what the unemployment rate might suggest in the short term," said David Penn, director of the Business and Economic Research Center at Middle Tennessee State University. "We're in one of those periods where we are getting different signals. Auto sales, building starts, home sales and sales tax collections are all headed higher but unemployment is also going up."

U.S. Factory Output Continues to Increase
(Memphis Business Journal, July 16, 2013)

David Penn, associate professor of economics at Middle Tennessee State University and director of MTSU's business and economic research center, said that durable goods manufacturing is up more than 3.5 percent over the year. "Manufacturing over the last two or three years has been very surprisingly positive," Penn said.

Despite Heartbreak, Love Affair with Homeownership Hasn't Faded
(Tennessean, July 14, 2013)

David Penn, director of the Business and Economic Research Center at Middle Tennessee State University, said the incentives remain strong for people to buy a home, even though it's no longer the highly profitable proposition it used to be. . . . "There are still large tax advantages in owning a home. . . . If you have a 30-year mortgage, you know what the payment is going to be for a long time."

May Tri-Cities Retail Sales Tax Collections Up after 4-Month Downtrend
(Business Journal of Tri-Cities, July 8, 2013)

Here's how the seven-county regional year-to-year collections have tracked according to seasonally adjusted numbers compiled from a MTSU Business and Economic Research Center report: January, down 2.8%; February, down 0.3%; March, down 3.3%; April, down 5.8%; May, up 5.1%.

Strong Jobs Report Mirrors Tennessee Employment Difficulties
(Memphis Business Blog, July 5 2013)

According to David Penn, associate professor of economics at Middle Tennessee State University and director of MTSU's business and economic research center, government employment in Tennessee is down 1.4 percent, or nearly 6,000 full-time jobs, and Memphis' public jobs are down by 1 percent this year. Penn believes that those job in public sector employment are unlikely to return.

Manufacturing Industry Rebounds in June
(Memphis Business Blog, July 1 2013)

In a recent interview with the Memphis Business Journal, David Penn, associate professor of economics at Middle Tennessee State University and director of MTSU's business and economic research center, pointed out that manufacturing employment was one of Tennessee's bright spots. "Manufacturing over the last two or three years has been very surprisingly positive," Penn said. "Tennessee is up in durable goods manufacturing more than 3.5 percent on the year."

Why Is Tennessee's Unemployment Rate Still Increasing?
(Memphis Business Journal, June 25, 2013)

One problem may lie in the way that the data are collected, according to David Penn, associate professor of economics at Middle Tennessee State University and director of MTSU’s business and economic research center. "The complicating factor is that (the unemployment rate) is falling while the payroll number has been rising during the same period," says Penn.

MTSU Center Releases Q1 Stats on State Housing, Jobs
(MTSU News, May 28, 2013)

David Penn, director of the center and a professor of economics, notes that job growth accelerated in Tennessee during the first quarter of 2013 with employers adding 20,000 nonfarm jobs from the previous quarter, expanding at a 3 percent annual rate.

Retail Sales Tax Collections Go Negative in Kingsport-Bristol and Johnson City MSAs
(Kingsport Today, May 28, 2013)

According to the Business and Economic Research Center at Middle Tennessee State University, adjusted collection were down 0.8% from March and 3.4% lower than April last year. The year-over-year collections have been down for three of the four months of this year.

Nashville Living Expenses Are Too High for Many
(Tennessean, May 27, 2013)

"It's only going to get worse unless wages start to increase again," said David Penn, an economist at Middle Tennessee State University. "And over the last 10 years, we haven't seen much upward pressure on wages, except for high-skill sectors." Nashville's recent job growth gives it an advantage over many cities facing affordability challenges, Penn said. If jobs continue to be added and the labor market tightens, "theoretically," he said, "that should help drive wages up."

Tennessee Companies Move Back to the USA
(Tennessean, May 26, 2013)

In Tennessee, durable-goods manufacturing jobs increased by 17,800 from 2010 (the recession’s low point) to 2012, said David Penn, an economist at Middle Tennessee State University who tracks Tennessee manufacturing.

The Housing Numbers Are Not Looking That Positive for Tennessee and Rutherford County
(WGNS radio, May 20, 2013)

The first quarter report from the Tennessee Housing Market indicates that home sales are literally up and down in Rutherford County and the state of Tennessee.

Tennessee Jobless Rate Up
(Times Free Press, May 17, 2013)

"We haven't seen much change over the past year," said Dr. David Penn, director of the Business and Economic Research Center at Middle Tennessee State University. "I think in the first quarter, the payroll tax increase and the budget sequestration have combined to make people a bit more stressed, and that has held down employment growth around the country and in Tennessee."

Housing Market Shows Continued Improvement
(Murfreesboro Post, May 16, 2013)

According to David Penn, director of the Business and Economic Research Center at Middle Tennessee State University, single-family home construction for Tennessee was out of step with the South and the United States in the first quarter.

Nonprofits Make Meaningful Contribution to Economy
(Tennessean, May 5, 2013)

Under the aegis of the Center for Nonprofit Management, the Business and Economic Research Center at MTSU conducted a study to assess the economic impact of our nonprofit sector in the Nashville metropolitan area.

Nashville Nonprofits Pack Big Economic Punch
(Tennessean, May 4, 2013)

The nonprofit sector contributed $20.9 billion to the regional economy in 2011, according to a study Middle Tennessee State University conducted on behalf of the Center for Nonprofit Management.

Tennessee Economic Recovery Slows, but Nashville Outperforming State
(Tennessean, May 2, 2013)

Tennessee's economic recovery continued to slow down in March, according to several economic indicators tracked by Middle Tennessee State University. Unemployment rose while the labor force, housing permits and sales tax collections fell statewide, the university's Business and Economic Research Center reported in its latest economic snapshot.

Middle Tennessee Leads State's Employment Recovery
(WMOT, April 26, 2013)

In other economic news, an analysis from Middle Tennessee State's Business and Economic Research Center says job growth in Tennessee is being led by the manufacturing, durable goods, transportation and business services sectors. The state is losing jobs in government services and construction.

Want to Work at a Coffee Shop? Get a Bachelor's Degree
(Tennessean, April 21, 2013)

Tennessee's unemployment rate among college grads 24 years old or younger from 2009 to 2011 was more than double the rate of 35- to 44-year-olds with a bachelor's degree, according to an analysis of the latest figures from the U.S. Census by Murat Arik, associate director of the Business and Economic Research Center at Middle Tennessee State University.

Feb. Johnson City Labor Market Shows Month-over-Month Seasonal Hiring
Kingsport Today, April 9, 2013

A timeline of the year-over-year changes can be found at the MTSU's Business and Economic Research Center website.

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