Forbes ranks Innovation Valley 17th

Communications Director

Kristin Farley
(865) 215-2589

400 Main St., Room 691
Knoxville, TN 37902

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Forbes ranks Innovation Valley 17th

Posted: 05/09/2005
Forbes magazine has ranked the Knoxville-Oak Ridge Innovation Valley the 17th best place in the nation to do business and have a career.

It is the only Tennessee metropolitan area to make the top 20 overall ranking. The annual Forbes Business and Career survey studies the 150 largest metro areas in the nation.

It bases overall rank upon performance in nine categories. The Innovation Valley did especially well in two of the three most important measures --- the cost of doing business (20th place) and in job growth (at 24th spot).

Knoxville's job growth was well ahead of all other metro areas in the state. Only our score in educational attainment seems to be keeping the region from moving even higher in the rankings.

In giving its overall Business and Career rankings, Forbes also considers six other categories: number of engineers (considered a key to high tech growth), cost of living, crime rate, culture and leisure, income growth and net migration.

Boise, Idaho, received the top overall ranking, but Knoxville actually got a better score than Boise for the cost of doing business (20th versus Boise's 22nd ranking). Knoxville's also outpaced 2nd overall Raleigh in the important sub-category of job growth (24th ranking compared to Raleigh's 53rd ranking).