Knoxville was ranked in the top ten among America's fastest growing cities and places for economic growth according to a business trade magazine.
Business Facilities ranked the Knoxville area eighth among the fastest growing cities and tenth for economic growth potential.
The Knoxville metropolitan area currently has the lowest unemployment rate out of all Tennessee's metro areas.
These new rankings can be partially attributed to Oak Ridge National Laboratory and the University of Tennessee for their high-tech research initiatives and their work in discovering alternative energies.
The Knoxville-Oak Ridge Innovation Valley is a regional economic development initiative, which encourages the work of some of the world's most advanced minds. The Innovation Valley, consisting of areas in both Knoxville and Oak Ridge, includes business like ORNL, Scripps Networks, Pilot-Flying J and other organizations.
Tennessee also earned a first-place ranking in the automotive manufacturing strength category and ranked in eighth for economic growth potential as well.