TO
TO ADDRESS THE ISSUES FACING TENNESSEEE TODAY FROM 10:00 NEWS. THIS IS INSIDE TENNESSEEE
WE HAVE BROUGHT IN NINETY AND
NEW COMPANIES INTO THIS STATE
IN THE PAST YEAR 12000 JOBS
OVER TWO BILLION DOLLARS WORTH
OF INVESTMENT. WE HAVE A VERY
STRONG ECONOMY IN THIS STATE
THAT IS TENNESSEES GOVENOR
SUMMING UP ECONOMIC HIGHLIGHTS
IN 2019 GOOD MORNING I'M HERE
INSIDE. TENNESSEEE MODERATOR
JOHN BECKER AND WE'RE GOING TO
DIVE INTO THE HEALTH OF THE
ECONOMY THIS MORNING ON THE
SAME WEEK THAT EXPERTS AT THE
UNIVERSITY OF TENNESSEE DELIVER
THE OFFICIAL ECONOMIC FORECAST
FOR 2020 TO THE GOVENOR EXPERTS
AT YOUTUBE. JUST AGAIN SENT
THAT REPORT TO GOVERNOR LEE AND
RESEARCHERS SAY THE ECONOMY IN
TENNESSEE WILL CONTINUE GROWING
IN 2020 BUT AT A SLOWER RATE
THAN IN LAST FEW YEARS. THE
REPORT ALSO SUGGESTS THERE ARE
NO SIGNS OF A COMING RECESSION
FOR A LOOK AT ANOTHER KEY
FINDING IN THAT REPORT. WE TURN
TO TENNEESSEE REPORTER JIM
MATHENY YOUR FITNESS LIVE ON
YOUR FITNESS JOURNEY IS A
MARATHON NOT A SPRINT AT ORANGE
THEORY FITNESS. JONATHAN
MESCHENDORF HELPS PEOPLE GET
INTO SHAPE BUT IN A WAY HE'S
ALSO HELPING TENNESSEES
ECONOMY. LONG TERM YOU'RE
LOOKING YOUR RISK FOR
CARDIOVASCULAR DISEASE YOUR
MEDICAL BILLS ARE GOING TO GO
DOWN? IF YOU TAKE CARE OF
YOURSELF IN THE LATEST CHECKUP
ON TENNESSEES ECONOMY HE SAYS
THE STATE'S DOING WELL
FINANCIALLY BUT HEALTH IS A
PROBLEM. HEALTH IS VERY VERY
IMPORTANT TO THE OVERALL
ECONOMIC PERFORMANCE OF A STATE
AND UNFORTUNATELY TENNESSEE HAS
RELATIVELY UNHEALTHY POPULATION
YOU CAN LOOK AT MEASURES LIKE
THE INCIDENCE OF CANCER OBESITY
AND THINGS LIKE CIGARETTE
SMOKING IN TENNESSEE VERY POOR
RANKINGS IN THOSE AREAS.
ECONOMISTS SAY THEY INCLUDED A
SPECIAL CHAPTER ON HEALTH IN
THIS YEAR'S REPORT TO THE
GOVERNOR TO RAISE AWARENESS OF
THE ISSUE FOR PEOPLE WHO MAKE
POLICY LIKE THE LAWMAKERS
LOOKING FOR WAYS TO GET THE
ECONOMY TO RUN EVEN FASTER.
IT'S CAN DEAL WITH THAT WILL
HELP INDIVIDUALS IN TENNESSEE
AND CERTAINLY PASS A VERY
RIGOROUS COST BENEFIT TEST
MESCHENDORF SAYS YOU CAN'T PUT
A PRICE ON GOOD HEALTH AND
ANYONE CAN AFFORD TO MAKE
STRIDES TO GET IN BETTER SHAPE.
FITNESS DOESN'T WALLS AND LOUD
MUSIC. E TENNESSEEE WE ARE VERY
BLESSED AND VERY LUCKY THAT WE
HAVE ALL KINDS OF DIFFERENT
PARKS RUNNING TRAILS. WE'VE GOT
THE MOUNTAINS AROUND HERE FIND
SOMETHING THAT YOU LOVE STICK
TO IT IT'S GOING TO BECOME A
PASSION OF YOURS STATE. JIM
MATHENY SETTING THE SCENE FOR
US A DEEPER DISCUSSION OF THE
ECONOMY AND WHERE IT'S HEADED
IN 2020 IS UNIVERSITY OF
TENNESSEE ECONOMICS PROFESSOR
DR. BILL FOKS GREAT TO HAVE YOU
BACK. DOCTOR THANK YOU JOHN
GLAD TO BE HERE. ABSOLUTELY OUR
PANEL THERE DON VOSOT IS ON THE
END. HE'S A DEMOCRAT SO FUN OFF
AIR. JOHN AND I COMPLIMENT YOUR
COLOR OF SUIT USIRAN RICHARDSON
WAYTHATS IS A REPUBLICAN AND
RUNS HER OWN PR COULDVE MORNING
DR. WAYTHATS I'M SO GLAD IT WAS
SUSAN ALL RIGHT. DR. FOKS ONE
OF THE THINGS THAT THIS REPORT
ALSO HIGHLIGHTS IS THAT THE
ECONOMY IS DOING WELL BUT IT
REALLY DEPENDS ON WHERE YOU ARE
THE DIFFERENCE BETWEEN CITIES
AND RURAL AREAS IS QUITE
DRAMATIC. IT IS DRAMATIC AND
INDEED ACROSS CITIES IT'S
DRAMATIC. IF YOU LOOK AT THE
U.S. AS A WHOLE THERE'S SOME
CITIES LIKE NASHVILLE AUSTIN
TEXAS WHERE THE ECONOMY IS
BOOMING? AND THEN THERE ARE
OTHER GIGGY RURAL PLACES WHERE
THE ECONOMY IS ACTUALLY
DECLINING. MANY COUNTIES EVEN
IN TENNESSEE ARE SEEING
POPULATION DECLINES AND VERY
LITTLE ECONOMIC GROWTH. WE'RE
GOING TO COVER A LOT BUT LET'S
START THERE BECAUSE RURAL AREAS
ARE ONE OF THE GOVERNOR'S
FOCUSES WHAT CAN THOSE
COMMUNITIES DO ON THEIR OWN AND
THROUGH HELP FROM THE STATE TO
REINVIGORATE THE ECONOMY. THERE
AREN'T ANY EASY ANSWERS HERE.
THE REALITY IS BUSINESSES SEEM
TO WANT TO LOCATE NEAR BIG
CITIES. I THINK A LOT OF THAT
IS A QUALITY OF LIFE ISSUE.
PEOPLE WANT THE OPTIONS THAT
EXIST IN CITIES LIKE KNOXVILLE
AND NASHVILLE AND YOU CAN'T
TRANSFORM THAT TO A RURAL
PLACE. AND SO THOSE RURAL AREAS
THAT ARE CLOSEST TO A BIG CITY
WHERE THEY CAN ACCESS THE
AMENITIES OF LIFE BUT STILL
OFFER THE ADVANTAGES OF A RURAL
PLACE THEY'RE IN THE BEST
SITUATION. TRULY RURAL PLACES
REMOTE RURAL PLACES THERE'S NOT
A LOT THAT CAN BE DONE. MAYBE
THERE'S SOMETHING SPECIAL IN
THAT PARTICULAR PLACE WHERE WE
CAN PUT FISHING OR SOMETHING
BUT IT WOULD HAVE TO BE VERY
UNIQUE TO THAT PLACE WHERE
WE'VE SEEN IN WYOMING WHERE
THEY'VE DONE A LOT OF NATURAL
GAS DRILLING AND ALL OF SUDDEN
THAT PROVIDES A BOOM. YEAH
THERE'S SOMETHING UNDERNEATH
THE GROUND YOU CAN TAKE
ADVANTAGE OF BUT IT'S GOING TO
BE VERY LOCATION SPECIFIC BUT
THERE'S THINGS WE CAN DO TO
HELP THE PEOPLE IN THOSE PLACES
RATHER THAN THE GEOGRAPHY OF
THOSE PLACES. SO EDUCATION
BROADBAND ACCESS ARE EXAMPLES
OF THINGS THAT ARE KEY TO
HELPING THE PEOPLE AND MAKE
SURE THEY CAN HAVE THE ECONOMIC
ADVANTAGES EVEN IF THEIR
GEOGRAPHY IS IN A DIFFICULT
SITUATION WE KNOW NASHVILLE IS
BOOMING YOU CAN. ALL YOU GOTTA
DO IS GO DOWN THERE SEE THE
CRANES ON EVERY CORNER AND A
STENNIS YOUR REPORTS OF EAST
TENNESSEE IS DOING FAIRLY WELL
DOING SOME GROWTH BUT WEST
TENNESSEE ISN'T WHAT WHY DO YOU
THINK THAT IS? WHAT ARE THE
FACTORS THERE? BECAUSE IT'S
MOSTLY RURAL AND THEY'RE JUST
NOT. THERE'S JUST NO GROWTH
THERE. AGAIN THEY'RE GOING TO
MEMPHIS OR JACKSON OR NASHVILLE
I DO THINK THE RURAL PART IS IS
A BIG ASPECT OF THAT STORY. I
MEAN ONCE A PLACE GETS GOING
AND GROWING LIKE NASHVILLE IT
BUILDS ON ITSELF THE SYNERGIES
EXIST. ONE AUTO PLANT LEADS TO
ANOTHER AUTO PLANT COMING
THERE. ONE HEALTH CARE FIRM TO
ANOTHER ONE IN AND SO. SO
HAVING SOME DYNAMIC REALLY
MATTERS WE ALSO HAVE A LOT OF
REALLY GOOD UNIVERSITIES AND
THIS IS NOT A UNIVERSITY.
TENNESSEES SALES PITCH BUT
THERE'S A LOT OF GOOD
UNIVERSITIES IN THIS AREA AND
HIGHER EDUCATION PELOSI AS AN
EXAMPLE. BUT ALSO IN NASHVILLE
AND I THINK THAT OFFERS REALLY
GOOD OPPORTUNITIES BECAUSE OUR
EDUCATED LABOR FORCE MATTERS IS
MEMPHIS. DERRICK OR IS IT
GROWING. IT'S PRETTY STATIC.
NOT A LOT OF GROWTH IN MEMPHIS
OVER THE LAST DECADE. YOU KNOW
THIS IS THE LONGEST ECONOMIC
RECOVERY IN THE MODERN HISTORY
OF THE US TEN AND A HALF YEARS
LONG. THAT'S AMAZING NONE OF US
WOULD HAVE IMAGINED AND WE
MISSLE SECUAL. I MEAN WE
EXPECTED AT SOME POINT PROBABLY
THEY COULD TURN DOWN BECAUSE IT
ALWAYS DOES. IT ALWAYS DOES.
BUT BUT JUST BECAUSE IT'S SPENT
A LOT OF TIME DOESN'T MEAN IT'S
GOING TO TURN DOWN SO WE WE
DON'T EXPECT A RECESSION IN THE
NEXT YEAR SOME SOME SHOCK TO
THE STATE WOULD HAVE TO TAKE
PLACE THOUGH FOR THE NATION.
ERBIL I WANT TO TOUCH AGAIN ON
THE RURAL URBAN DISPARITY AND
REALLY WHAT COMES TO MIND AS
YOU SAY THAT IS YOU KNOW
HISTORICALLY RURAL HAS MEANT
FARMING IN OUR STATE AND
AGRICULTURE AND WE'VE SEEN SO
MANY DIFFICULTIES FIRST
BEGINNING WITH SORT THE OF THE
SMALL FARMER GETTING BOUGHT UP
AND FORCED OUT OF THE MARKET
AND THAT'S AFFECTED A LOT OF
FAMILIES. AND THAT'S JUST A
FUNCTION OF CORPORATE AMERICA
FRANKLY. BUT HAVE YOU SEEN
WE'RE TALKING ABOUT THIS YEAR'S
REPORT. HAS THE ISSUE WITH A
TARIFF FOR WHICH HAS AFFECTED
AGRICULTURE IN A GREATER
DISPROPORTION WAY THAN ANY
OTHER INDUSTRY PROBABLY EXCEPT
POSSIBLY AUTO AND STEEL HAVE
YOU SEEN THAT HAVE A MEANINGFUL
EFFECT IN THE ECONOMIC REPORT.
WELL THE TARIFFS MATTER NO
QUESTION ABOUT THAT. BUT THE
REALITY IS IF WE GO BACK TO
LOOK AT THE HISTORY OF
TENNESSEES RURAL PLACES IT WAS
SOME AGRICULTURE PICKETING IN
THE WESTERN PART OF OUR STATE.
THAT'S RIGHT. BUT ACTUALLY WE
HAD A LOT OF MANUFACTURING. THE
SHIRT FACTORY'S THE COTTON SO
FACTORIES THEY WERE MANY OF
THEM IN RURAL PLACES. NOW WE
HAD A FEW OF THEM IN KNOXVILLES
BUT A LOT OF THEM WERE IN RURAL
PLACES AND PARTS MANUFACTURERS
FOR AUTOMOBILES ARE IN MANY
RURAL COMMUNITIES IN OUR STATE
DEFINED RURAL. YOU KNOW I THINK
OF THE PARTS I KNOW THERE'S
SOME AUTO MANUFACTURING AND
GREEN BACK BUT IT HAS PROXIMITY
MARYVILLE. ARE YOU TALKING
ABOUT AUTO MANUFACTURING PARTS
OF THAT WERE 150 MILES AWAY
FROM MEMPHIS OR OR EVEN JACKSON
TRICITIES OUTSIDE OF
METROPOLITAN AREAS IS HOW I'M
DEFINING A RURAL PLACE AND WE
DO HAVE A FAIR NUMBER AND MY
CONCERN IS FIRST OF ALL THE
SHIRT FACTORIES WENT AWAY AND
AND I THINK WE'RE ALREADY
BEGINNING TO SEE DECLINES IN
THE NUMBER OF AUTOMOBILES
MANUFACTURED AROUND THE COUNTRY
EVEN EVEN IN CHINA BY THE WAY
THEY HAD COMBINED THE LAST TWO
YEARS. TWELVE PERCENT FEWER
VEHICLES SOLD THIS YEAR THAN
TWO YEARS AGO IN THE US JUST A
COUPLE PERCENT OFF. SO WE'RE
SEEING THAT DECLINE BUT WHEN WE
GET TO AUTONOMOUS CARS WE'RE
GONNA GET THIS HUGE REDUCTION
IN THE AMOUNT OF PARTS AND
ELECTRIC. THE GUY WHO RUNS BMW
RECENTLY SAID THERE'S TWELVE
HUNDRED PARTS IN AN INTERNAL
COMBUSTION ENGINE VEHICLE
THERE'S 17 IN AN ELECTRIC CAR.
WOW. WE'VE GOT TO TAKE A BREAK
CHEW ON THAT FOR A MOMENT.
WE'RE BACK WITH MORE OF OUR
ECONOMIC DISCUSSION