Williamson County Overview

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MARKET RESEARCH: WILLIAMSON COUNTY OVERVIEW

Williamson County has attracted people from across the United States and around the world to come live and work in a vibrant community. With well over half of Williamson County residents being born outside the state of Tennessee, it has become a true melting pot for skilled workers to come and raise their families. Due to this highly educated population, Williamson County has been fortunate to attract and grow a diverse array of businesses and headquarter operations, allowing residents to grow through their entire careers locally.

Overview

DEMOGRAPHICS

POPULATION

232,129

Williamson County population


120,986

Williamson County labor force


12%

of Nashville MSA’s population


17%

Williamson County population growth over the last 5 years

HOUSING

73,160

Households


2.89

Average household size


76,485

Housing units

RESIDENT

39

Median age


51%

of the population is female


58%

of Williamson County residents were born in a different state


$103,543

Median household income

BUSINESS

1,280

New business licenses filed in 2017


2.5%

Unemployment in Williamson County

EDUCATION

96%

of the population has attained at least a high school diploma or its equivalent


58%

of the population has a bachelor’s degree or higher


21%

of the population has a graduate degree or higher

COST OF LIVING

The Nashville Region has a cost of living 4% lower than the national average.

A low cost of living is important for retaining a high quality of life for current residents as well as attracting new businesses and residents. In this diagram, the average cost of living for metro areas across the United States is indexed to 100. Williamson County, as part of the Nashville MSA, maintains a lower cost of living compared to the national average and many peer regions. Moving here from an area with a higher cost of living means that new residents will have more disposable income, increasing their overall quality of life while keeping the same level of income – a very attractive benefit for those considering relocation.

NATIONAL TAX BURDEN COMPARISONS

A low tax burden means more disposable income for businesses and residents. Of the 50 states, Tennessee ranks 44th in property tax, and 43rd in income tax. As a percentage of income, Tennessee’s overall tax burden per capita is 7.3%, or 47th in the nation, only behind South Dakota, Wyoming, and Alaska. Debt Per Capita is the total amount of the outstanding general obligation debt issued by and for the use of a state or municipality divided by the population of the issuer. The lower the debt per capita the higher the quality of the bonds and the lower the risk of default. Tennessee’s debt per capita is 42nd in the country, showing great fiscal responsibility in the state and local budgets.

INDUSTRY DIVERSITY

Economic diversity is important to maintaining a strong and stable economy. As illustrated below, Williamson County’s economy is diversified across many industries with stronger concentration in headquarter and back office operations and less employment in manufacturing and government occupations when compared with the nation. Having a diverse economy that is not dependent on any single industry minimizes risk for employers and supports a balanced, resilient economy.

ESTABLISHMENTS BY EMPLOYMENT

A thriving community is one that relies upon establishments of a variety of sizes, allowing for relative economic stability during times of growth and recession. Williamson County is home to 24% of Inc. 5,000 companies located in the state of Tennessee, representing both small start-ups and well-established enterprise companies.