Editing Morristown, Tennessee (section)

== Economy ==
Being centrally located in the [[East Tennessee]] region, Morristown serves at the hub for a [[labor market area]] pulling most of its labor force from a surrounding seven-county area of 337,000 people.<ref name="labor market"/> Morristown and its metropolitan area in 2019 was reported to have a [[gross metropolitan product]] of {{US$|5.1 billion}}.<ref name="forbes">{{cite web |title=Best Small Places for Business and Careers 2019: Morristown, TN |url=https://www.forbes.com/places/tn/morristown/#3093270e38a1 |work=[[Forbes]] |access-date=October 22, 2020 |date=October 2019}}</ref>

The town is also home to a [[National Weather Service]] forecast office serving much of [[East Tennessee]] as well as several southwestern [[Blue Ridge Mountains|mountain]] counties in the neighboring states of [[Virginia]] and [[North Carolina]].<ref>{{Cite web |last=US Department of Commerce |first=NOAA |title=Morristown, TN |url=https://www.weather.gov/mrx/ |access-date=2024-05-07 |website=www.weather.gov |language=EN-US}}</ref>

===Top employers===
According to a March 2021 survey by the Morristown Area Chamber of Commerce,<ref name="topemploy">{{cite web |title=Top 20 Employers |url=https://selectmorristowntn.com/top-20-employers/ |website=Morristown Area Chamber of Commerce |access-date=April 14, 2021}}</ref> the top 15 employers in the city are:
{| class="wikitable"
|-
! #
! Employer
! # of Employees
|-
|1
|Hamblen County Department of Education
|1,284
|-
|2
|[[Koch Foods]]
|1,100
|-
|3
|[[MAHLE Powertrain]]
|1,015
|-
|4
|Team Technologies
|853
|-
|5
|[[Arconic]]
|833
|-
|6
|[[Walmart]]
|749
|-
|7
|[[Walters State Community College]]
|743
|-
|8
|Morristown-Hamblen Healthcare Systems
|716
|-
|9
|[[JTEKT]]
|693
|-
|10
|[[Rich Products]]
|540
|-
|11
|Tuff Torq Corporation
|500
|-
|12
|[[Food City (K-VA-T)|Food City]]
|422
|-
|13
|Healthstar Physicians
|373
|-
|14
|Otics USA Inc.
|366
|-
|15
|City of Morristown
|338
|}

===Real estate===
As of August 2020, Morristown has seen a high demand for both single-family and multi-family residential developments.<ref name="subdivision">{{cite news |last1=Moore |first1=Robert |title=Subdivision planned for South Cumberland |url=https://www.citizentribune.com/news/subdivision-planned-for-south-cumberland/article_eb48b812-de4a-11ea-8c43-1365763ebf95.html |access-date=August 17, 2020 |work=Citizen Tribune |date=August 14, 2020 |quote=As residential growth – mostly apartments – in Morristown is proceeding at breakneck speed.. Kramps says the demand for single-family homes in Morristown in all price ranges remains high.}}</ref><ref name="stevens">{{cite news |last1=Stevens |first1=Blake |title=Red-hot housing market in Morristown area highlights need for new construction |url=https://www.wate.com/news/top-stories/red-hot-housing-market-in-morristown-area-highlights-need-for-new-construction/ |access-date=January 11, 2021 |work=[[WATE-TV]] |date=December 30, 2019}}</ref> Morristown reported a 110% increase in residential construction in the city's annual economic and community development report in 2020.<ref name="hightowerboom">{{cite news |last1=Hightower |first1=Clff |title=Morristown in midst of housing boom |url=https://www.citizentribune.com/news/local/morristown-in-midst-of-housing-boom/article_5cfbce7e-828b-11eb-a9a2-0f55970f9812.html |access-date=March 12, 2021 |work=The Citizen Tribune |date=March 11, 2021}}</ref>

A study by [[Middle Tennessee State University]] found that the Morristown metropolitan area saw an 8.1% increase in housing prices in the third quarter of  2019 compared to the same period in 2018.<ref name="hartq3">{{cite web |last1=Hart |first1=Jimmy |title=BERC report: Positive trends continue in Q3 with rising home prices across TN |url=https://mtsunews.com/berc-housing-report-q3-2019/ |website=MTSU News |date=December 20, 2019 |publisher=[[Middle Tennessee State University]] |access-date=January 11, 2021}}</ref>

As of 2010, the median price for a home in the Morristown-Hamblen area was $125,600, compared with $142,000 in the [[Knoxville metropolitan area]], and $177,900 nationally.<ref name="mrpc">{{cite web |title=Ambition 2030 Plan |url=http://cms.revize.com/revize/morristown/Dev&Planning/Ambition%202030%20Plan-%20original.pdf |website=Morristown Regional Planning Commission |access-date=July 27, 2020 |archive-url=https://web.archive.org/web/20200727215822/http://cms.revize.com/revize/morristown/Dev%26Planning/Ambition%202030%20Plan-%20original.pdf |archive-date=July 27, 2020 |url-status=live }}</ref>

In 2010, the Morristown-Hamblen area was home to over 1,000 businesses, employing over 25,000 people.<ref name="mrpc"/> Total property tax revenue was almost equally divided amongst residential, commercial, and industrial properties, with residential property tax supplying 50.1%, commercial at 26.1%, and industrial at 20.1%.<ref name="mrpc"/>

===Manufacturing===
Morristown is considered to be one of the largest [[Manufacturing in the United States|manufacturing]] and industrial hubs in the state of Tennessee.<ref>{{cite web |last1=Morristown Area Chamber of Commerce |title=Why Morristown? |url=https://selectmorristowntn.com/why-morristown/ |website=selectmorristowntn.com |access-date=June 7, 2020}}</ref> There are several industrial parks located in the eastern, western and southern parts of the city,<ref name="etpcgrant">{{cite web |last1=City of Morristown |title=East TN Progress Center Receives State Grant |url=https://www.mymorristown.com/news_detail_T2_R303.php |website=mymorristown.com |access-date=June 7, 2020}}</ref> and over 100 manufacturers have based their facilities in Morristown, ranging from [[food processing]], [[aerospace manufacturer|aerospace technology]], [[machine industry|machine and parts production]], [[plastics engineering]], and many other industries.<ref>{{cite web |last1=Morristown Area Chamber of Commerce |title=Existing Industry |url=https://selectmorristowntn.com/why-morristown/existing-industry/ |website=selectmorristowntn.com |access-date=June 7, 2020}}</ref><ref>{{cite news |last1=Jordan |first1=Miriam |title=ICE Came for a Tennessee Town's Immigrants. The Town Fought Back. |url=https://www.nytimes.com/interactive/2018/06/11/us/tennessee-immigration-trump.html |access-date=July 1, 2020 |work=The New York Times |date=June 8, 2018}}</ref>

In 2019, the Morristown area was reported to be home to 109 manufacturing companies, with projections showing Morristown could gain 3,000 jobs and over $600,000,000 in investment in the manufacturing sector alone by the year 2024.<ref name="stevens"/>

Morristown's manufacturing market employs nearly 10,000 or 24% of the workforce in Hamblen County, and an extra 11,000 [[commuting]] from surrounding counties such as Jefferson, Grainger, [[Cocke County, Tennessee|Cocke]], and [[Hawkins County, Tennessee|Hawkins]] for employment.<ref name="labor market">{{cite web |last1=Morristown Area Chamber of Commerce |title=Labor Market & Workforce |url=https://selectmorristowntn.com/why-morristown/labor-market-workforce/ |website=selectmorristowntn.com |access-date=June 7, 2020}}</ref>

===Retail===
Morristown is considered a hub for retail, with the indoor regional [[College Square Mall (Tennessee)|College Square Mall]] serving an area of 300,000 people, and a diverse array of locally owned shops and franchised stores in retail developments dispersed around Morristown and in its downtown area.<ref name="economicdev">{{Cite web|title=Economic Development|url=https://www.mymorristown.com/departments/community_development/economic_development.php|access-date=July 12, 2020|website=City of Morristown}}</ref><ref name="shop">{{cite web |url= http://www.visitmorristowntn.com/accommodations/where-to-shop |title= Where to Shop |work= Morristown Chamber of Commerce |access-date= August 12, 2015}}</ref> In 2016, the city saw nearly $1.4 billion in retail sales.<ref name="about">{{cite web |title=About Morristown |url=https://www.morristownchamber.com/about/about-morristown |website=Morristown Area Chamber of Commerce |access-date=July 30, 2020}}</ref>