Tennessee experienced the highest number of business filings for a second quarter in the 25-year history of data, according to the latest Quarterly Business and Economic Indicators report.
In the second quarter of 2023, 19,996 new entities filed in Tennessee. That shows that businesses continue to establish in Tennessee at high rates, building on the elevated rates of filings that began back in 2020.
Over the past year, 77,044 new businesses filed, and employment rose by 84,600 jobs. State unemployment in June matched its all-time low at 3.2%.
A high level of business filings typically leads to jobs, personal income and state revenue growth, and all are growing in Tennessee.
To review the complete Second Quarter 2023 Tennessee Business and Economic Indicators report and past reports, visit sos.tn.gov.