New business filings in Tennessee continued at a “record-shattering” pace during the second quarter of 2021, according to state officials.
In those three months, paperwork was completed for 19,983 new business entities here. That’s up 61.6 percent form the same period last year. Secretary of State Tre Hargett said it the most number of new business filings ever recorded in one quarter in the 28 years that such data has been collected. First-quarter 2021 broke the previous record.
“The entrepreneurial spirit is alive and well in Tennessee,” Hargett said in a statement. “Our business-friendly environment encourages investment and jobs. The record number of firms choosing to establish in Tennessee is a testament to the stewardship of our state leaders and an encouraging sign for the future.”
Shelby County led the way in new business filings, followed by Davidson (Nashville), Knox (Knoxville), and Hamilton (Chattanooga) Counties.
Hargett reported that Tennessee’s June unemployment rate (4.9 percent) continued to decline from its pandemic high of 15.8 percent and remains below the national rate of 5.4 percent. In June, employment in Tennessee grew by 22,100 jobs, but total employment remained below the pre-pandemic peak in February 2020.