TBA Law Blog


Posted by: Azya Thornton on Apr 16, 2025

Tennessee ranks second in the nation for economic outlook, according to the 18th annual Rich States, Poor States Report from the American Legislative Exchange Council, a conservative organization that drafts model legislation for state governments. The News Herald reports that Tennessee moved up from sixth place in 2024 and 13th in 2023, receiving high marks for its tax policies — including no income or estate taxes — and a minimum wage at the federal level of $7.25 per hour. Tennessee ranked 12th in overall economic performance, with a 76.25% growth in gross domestic product from 2013 to 2023. The state also saw an influx of 405,833 new residents between 2021 and 2023, ranking seventh in population growth.