Report touts Knoxville as ‘recession-proof’
A survey released by Duke University suggests a recession looms over America. Almost half of the 500+ CFOs surveyed predict a recession by the end of this year, and a whopping 82 percent of them predict a recession by the end of 2020.
So what can you do?
If you live in Knoxville: Stay put.
A new report from livability.com indicates Knoxville is better positioned to withstand a recession than any other city in the East.
The report lists Knoxville as the No. 5 most recession-proof city in the United States – second in the South to Victoria, Texas, which is ranked No. 4 overall. Lincoln, Nebraska, Wichita, Kansas, and Fargo, North Dakota, were ranked numbers 1-3, respectively.
Livability says, “Knoxville had a smooth ride through the Great Recession, and is poised to do the same should another one hit in the near future.”
The site points to other outlets that have praised Knoxville – including CareerBliss.com, which ranked Knoxville No. 2 on their “Happiest Cities to Work in Right Now” in 2013, and Forbes, which touted Knoxville as one of the most recession-resistant cities for real estate.
Meanwhile, last year Livability ranked Knoxville No. 8 on its “Best Affordable Places to Live” list.
The site also mentions Knoxville’s relatively low median home prices ($134,600), its “vibrant downtown and great restaurant scene,” and its “steady stream of young residents” who come because the city is the home to the University of Tennessee’s flagship campus.
Livability concludes by pointing out Knoxville’s proximity to the Smokies as well as other cities, which make it “a perfect place to put down roots and find peace of mind.”
Lincoln is praised partly because it was named the “Happiest City in America” by Gallup. Wichita gets kudos for its low cost of living and low income-todebt ratio. Fargo lands at No. 3 on the list thanks to its low jobless rate, and Victoria is credited with stable real estate prices and diverse mix of industries.
Source: Knoxville News Sentinel, by Chuck Campbell
The East Tennessee Economic Development Agency markets and recruits business for the 15 counties in the greater Knoxville-Oak Ridge region of East Tennessee. Visit www.eteda.org
Published February 1, 2019