Demographics

Roane County laborshed

Tennessee & Roane County Demographics

• Tennessee is a right-to-work state.
• Tennessee's 2003 union membership for all industries/manufacturing is lower than the national average:
  • Tennessee..........9.2%
  • United States.....12.9%
• Tennessee's 2002 population of 5,797,289 represents a 1.9% increase over the 2000 census.
• Tennessee has the second largest inland port in the United States on the Mississippi River in Memphis.
• Tennessee is one of only 8 states with a AAA bond rating.
• Tennessee has over 200 Fortune 500 industrial and service companies within state facilities.
• Tennessee's Constitution requires a balanced state budget.
• Tennessee has no personal income tax on wages.
• Tennessee offers the nation's most dependable power source. The Tennessee Valley Authority operates one of the nation's largest electric power systems in terms of generating electricity.
• Tennessee is located in the Sunbelt area of the Southeastern U.S. and has a mild year round climate.

State Tax Structure

• Sales Tax: 7%
• Income Tax
  • Personal: 6% on Interest and Dividends
  • Corporate (Excise): 6.5% of Net Earnings
• Franchise Tax: 25 cents per $100 of Capital Properties
• Unemployment Tax - New Employers: 2.7% of First $7,000