The Smoky Mountains are a great place to build your business! There are numerous advantages of deciding to open a business in the Smokies, from the region’s impressive tourism industry to a diversity of attractions, being centrally located to and easily accessible for half the country’s population, and more. Thinking of relocating or starting a new business in the Smokies? Check out the 8 benefits of building your business in the stunning Smoky Mountains:
1. Booming Tourism Industry
The Smoky Mountains have become one of the most popular vacation destinations in the United States! Millions of tourists from all around the world visit the Smokies each year, contributing to a tourism industry that’s as healthy as any other in the country. That makes the area the ideal spot to build your business as visitors are comfortable with spending money, as is expected on vacation. According to a report from the National Park Service, visitors of Great Smoky Mountains National Park spent $2.1 billion in the communities surrounding the park in 2022.
2. Mix of Nature, Adventure & Attractions
The diversity of the area is another great benefit of building your business in the Smoky Mountains. Simply put, the Smokies have plenty to do and see, from the sprawling national park to attractions of all types and one-of-a-kind adventures. That means your business is sure to fit right in! This blend of things to do attracts all kinds of people, so there are surely folks who want to check out what your business has to offer.
3. Central Location
The Smoky Mountains are centrally located in the United States, within a day’s drive of more than half of the country’s population. This easy accessibility is a big reason why so many people visit the region every year. Within the area, public transit options like trolleys, rental cars and ride-sharing services make it easy for visitors to get around town. Because of its central location and endless list of things to do, it’s often common for people to return to the area more than once.
4. No State Income Tax
Did you know that Tennessee has no individual state income tax? We’re one of just eight states that don’t have a state income tax, making us an attractive place to relocate for both individuals and businesses. These tax advantages are beneficial for both your business and your employees. Tennessee’s corporate income tax rate is 6.5%.
5. Family Friendly
Families love the Smoky Mountains! That’s good news for your business because the bigger the clientele pool, the more likely you are to make money. If you’re a parent, you probably are ok with splurging on your family, especially when it comes to family vacation. Being a family friendly destination means there’s always a demand for businesses that appeal to all generations, rather than just one sliver of the population.
6. Demand for New, Exciting Businesses
Because of the popularity as a tourist destination, the Smoky Mountains are always looking for new and exciting businesses. There’s a piece of the pie to go around for every business with how many visitors make their way to the Smokies. While there are many established businesses, people are always looking for something new to do or see. This means plenty of opportunity for your business to be successful in attracting clients.
7. Top 10 State for Business
Tennessee is ranked as one of the top states for business, according to CNBC! The news service ranked Tennessee as the eighth-best state for business in America, based on a number of metrics and categories. The metrics used to build these rankings were determined in conjunction with business and policy experts. Tennessee ranked in the top 10 in each of the following categories: infrastructure, workforce, economy and the cost of doing business. Tennessee’s highest ranking in any category came in the economy metric, where it ranked third nationally.
8. High Quality of Life for Employees
As a business owner, you know the importance of having a great team to run your day-to-day operations. Keeping employee morale high helps all aspects of your business. When you build your business in the Smoky Mountains, your employees won’t have to pay state income tax, meaning more money in their wallets. It’s not just the financial benefits; your employees are going to love living and working in a gorgeous natural area with many different exciting things to do in their free time.
The benefits of building your business in the Smoky Mountains make it an attractive option for entrepreneurs in all industries. We would love to help turn your business dreams into a reality! Learn about why our commercial construction company is the top choice for your project in the Smokies!
