Tennessee is a great place to live. For residents of Mirrostown, it’s about to get a little better. New Tennessee jobs are on the way for residents of this city, roughly three hours from Nashville.
Nashville recently received a spot on US World and News Report’s list of Top 10 Places to Live. However, a few hours away in Morristown, a new factory is about to take root.
Van Hool NV is a Belgian manufacturer of buses, coaches, and industrial equipment. Recently, they’ve decided to open their first manufacturing plant in the United States in Morristown, Tennessee.
“Van Hool’s decision to establish its first U.S. manufacturing plant in Morristown and create more than 600 jobs underscores the robust pro-growth environment of job creation we’ve fostered in Tennessee,” Governor Bill Haslam said.
The factory will create 600 jobs for local residents and is expected to begin producing vehicles as early as 2020.
New Tennessee jobs are on the way! What impact, if any, will this have on cost of living? It’s unlikely that Van Hool’s factory will significantly alter the landscape of Morristown or Tennessee in general.
We know that large companies have the power to transform a city’s economy, such is the case with Seattle and Amazon. However, the effects aren’t always positive in the long-term.
A small increase in cost of living is still possible. New industries create new jobs. In turn, housing and other services respond to market forces. Rents and home prices may go up slightly. However, the increased taxes collected from a large factory may lower the tax burden on residents.
It’s too early to tell, however for residents of Morristown looking for a job: help is on the way!
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