NASHVILLE, TN (WGNS) - Tennessee kicked off 2026 with a surge of entrepreneurial energy, setting multiple records in the first quarter and signaling that the state’s business climate remains one of the strongest in the nation. According to Secretary of State Tre Hargett’s latest Quarterly Business and Economic Indicators report, new business filings reached their highest first quarter total in the 33 years the data has been tracked. Annual report filings also hit an all time high, underscoring both business creation and business resilience.
In Rutherford County alone, data from the University of Tennessee Boyd Center for Business and Economic Research shows continued population growth in the years ahead. Projections from the center indicate that by 2050, the population of Rutherford County — located in the Heart of Tennessee — could reach 589,144 residents, bringing with it continued business expansion and additional demand for services, housing and infrastructure. Looking even further ahead, the county’s population is projected to climb to an estimated 665,709 residents by 2060, underscoring the significant growth expected in Rutherford County alone. If those numbers are hard to imagine, then hold onto your hat. The center projects Rutherford County’s population will climb even higher by 2070, when the total number of residents is forecast to reach 741,492.
State leaders say the momentum isn’t accidental. Hargett credits Tennessee’s “recipe of lower taxes, light regulations, and responsible fiscal management” for attracting people and businesses from across the country. And the numbers back that up. During the first quarter alone, 24,852 new entities filed paperwork to operate in Tennessee — a remarkable 20.6 percent increase over last year. High filing numbers typically translate into more jobs, higher personal income, and stronger state revenue.
Annual report filings were even more eye catching. More than 241,000 entities filed in the quarter, a 30.4 percent jump year over year. Over the past 12 months, Tennessee recorded 84,893 new entity filings and nearly 374,000 annual reports, showing that not only are new businesses forming, but existing ones are staying active.
Davidson and Knox counties led the way in new filings, followed by Shelby and Hamilton. Those four counties accounted for 42.6 percent of statewide filings and collectively grew by just over 20 percent. But the rest of Tennessee wasn’t far behind — the other 91 counties actually grew faster, posting a 21 percent year over year increase.
The report also highlights Tennessee’s population growth, which climbed by nearly 64,000 people in 2025, bringing the state’s population to 7.32 million. Net domestic migration was the biggest driver, but international migration and natural growth also played roles. Eighty one of the state’s 95 counties gained population, with Davidson County seeing the largest increase.
Dr. Don Bruce of the Boyd Center for Business and Economic Research says the record breaking filings show Tennessee’s entrepreneurial spirit “really shines through,” adding that new businesses strengthen the job market and tax base — all of which improve quality of life for Tennesseans.
The full Q1 2026 Quarterly Business and Economic Indicators report is available at sos.tn.gov.
