Chattanooga Booms Despite Covid-19
Oct 13, 2020
Fueled by low interest rates, a big city exodus, an industrial renaissance, and an influx of expendable stimulus money, private development in Chattanooga remains strong. Like many other small southern cities, the Scenic City’s economy continues to churn at an impressive clip. The single-family residential market exploded amidst the summer shutdowns and builders simply can’t replenish their supply fast enough. Industrial clients are getting calls daily about any leasable space they have available, and Ragan-Smith’s Chattanooga Office has been forging ahead, designing a mixed-use community that will forever change the dynamics of downtown Chattanooga.
Our private sector clients in Chattanooga have seen very little decline in business activity in the new world of COVID. In fact, most suggest that their business has seen an uptick in activity through 2020. Now, with more companies offering the option of working remotely, one of the primary barriers that was keeping families from relocating to Chattanooga is removed. It’s not just households seeking to move away from big cities; corporations are equally interested in making Chattanooga home. With a low cost of living, no state income tax, low corporate taxes, a hip outdoor vibe, and some of the fastest internet in the country, “Gig City” has become a national destination. Despite the pandemic environment, growth appears to be steady, and the outlook is promising for the Chattanooga Region.