Every county in Tennessee experienced lower unemployment rates in August, data released by the Department of Labor and Workforce Development reveals.
For the month, 89 counties recorded rates below 5%, while the remaining six counties came in with rates higher than 5% but less than 10%.
Williamson County’s unemployment rate was the lowest in Tennessee during August. At 2.3%, the county’s rate dropped 0.3% from its July figure of 2.6%.
Cheatham County came in with the state’s second-lowest rate for the month at 2.5%, a 0.3% drop compared to the previous month. Moore County’s rate was the third-lowest at 2.6%, down 0.3%.
Perry County recorded the state’s highest jobless number at 5.6%. Its new rate accounted for a 0.7% drop from its July rate of 6.3%.
Bledsoe County had the second-highest rate in August at 5.4%, its rate dropped 0.7%. Shelby County was third-highest at 5.3%, also 0.7% from July.
Statewide, seasonally adjusted unemployment did inch up in August. It was the first increase after three consecutive months of a steady rate. It went from 3.3% to 3.4% between July and August.
Nationally, seasonally adjusted unemployment increased slightly between July and August, up 0.2% to 3.7%.
County unemployment rates are not seasonally adjusted to account for different impacts on the workforce.
Hankook commits to emissions targets
Global tire maker Hankook Tire has committed to the Science Based Targets initiative by submitting its targets for reducing greenhouse gas emissions from its own operations.
The SBTi is a partnership between CDP (formerly Carbon Disclosure Project), the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. More than 3,600 global companies are working with the SBTi to set, measure, and report science-based reduction targets in line with the Paris Agreement, a legally-binding international treaty on climate change.
Hankook Tire joined the SBTi initiative in March this year as the first tire manufacturing company in Korea, where it is headquartered. In August, the company submitted its mid- to long-term science-based emissions reduction targets. The validation is expected in early 2023.
Hankook Tire has established climate change and sustainability as its core initiatives since 2010, and has been making various efforts to reduce greenhouse gasses in the tire production process. Last July, the ESG committee was launched within the board of directors to strengthen the company’s ESG management. The ESG committee accelerated Hankook’s long-term goal of a 50% reduction in greenhouse gas emissions by 2050 from its 2018 baseline to 2030. The committee also created a new 2050 carbon-neutral road map including Scope 3.
Pinnacle touts ’21 deposit growth
Pinnacle Financial Partners, Inc. is the No. 1 bank in Nashville in terms of deposits for the fifth consecutive year and is also the fastest growing based on deposit growth.
FDIC data from June 30 shows Pinnacle holds $16.7 billion in deposits within the Nashville-Murfreesboro-Franklin MSA, which represents Davidson, Williamson and Rutherford counties.
That’s an increase of more than $2 billion from one year earlier, an annual increase greater than any other bank in the market, for a growth rate of 13.97%. Pinnacle’s total market share in the MSA is 18.03%, compared to 16.43% June 30, 2021.
Statewide in Tennessee, Pinnacle is now the third-largest bank in terms of deposits, moving up one place from 2021, and the second largest with headquarters in Tennessee behind First Horizon, which has announced that it is being acquired by Canadian firm TD Bank.
Pinnacle added $2.9 billion in Tennessee deposits in the 12 months ended June 30, bringing its total deposits at that date to $23.4 billion for an annual growth rate of 13.90%, market share of 10.52% and the biggest dollar amount gain in the state during this period.
Dine-in cinema coming to Nashville Yards
Southwest Value Partners and AEG, joint venture partners and co-developers of the Nashville Yards’ creative office, music venue and entertainment offerings, have announced an agreement with EVO Entertainment Group, the nation’s largest operator of cinema-entertainment centers, to open a more than 48,000 square-foot experiential cinema and entertainment destination at Nashville Yards.
Plans for EVO Entertainment Nashville Yards, slated to open in late 2024, include a 12-screen luxury dine-in cinema, eight lanes of bowling, a scratch kitchen and bar, private event spaces, and state-of-the-art gaming and attractions, gravity ropes and advanced virtual reality experiences.
EVO Entertainment Nashville Yards will occupy an entire floor of the 420,000 square foot Class A+ creative office building centrally located in Nashville Yards. The development will also feature an up to 4,500-capacity, state-of-the-art live music venue and a curated collection of food, beverage, entertainment and shopping offerings.
A key feature of EVO Entertainment Nashville Yards will be private event spaces featuring screening rooms, providing an ideal setting for gatherings and celebrations of all occasions and sizes from corporate events to private parties. A scratch kitchen and bar will serve both the private event spaces and guests at a full-service, dine-in restaurant and cocktail bar overlooking the plaza in front of the music venue.
Austin-based EVO Entertainment operates 19 venues across five states. EVO Entertainment Nashville Yards will be the company’s first venture in Tennessee.
Pokemoto opens first TN store in Gallatin
Pokemoto, Muscle Maker, Inc.’s expanding Hawaiian poke bowl restaurant concept, announced the opening of a new Pokemoto Hawaiian poke eatery in Gallatin.
Located at 1025 Nashville Pike in Gallatin, this Pokemoto location offers dine-in, takeout and third party online ordering.
The new Pokemoto is adorned with the brand’s fresh interior design package that features hues of greens, blues and oranges with ukuleles and tunas on the walls providing a Hawaiian centric vibe for guests.
Amindra Wijayanayake, the Gallatin Pokemoto franchisee commented “Gallatin is a growing city full of culture, entertainment and places to dine, a major draw for those looking for something to do. We’re excited to bring our delicious poke bowls and boba tea to the Gallatin community. It was great to see everyone come out for our grand opening to support our new business.”
The Gallatin Pokemoto opening marks the fifth opening announced by the company since August. Pokemoto recently opened locations in Orange Park, Florida; Colchester, Connecticut; Oxford, Mississippi; and Philadelphia, Pennsylvania. The “healthier for you” lineup of bowls, salads and burritos as well as the fruit and milk boba teas have been well received in the new markets as they are in existing markets.
New FlyteVu division geared to metaverse
Entertainment marketing agency FlyteVu has announced FV3, a new division housing Web3 offerings designed to usher brands into the new age of interactive media.
To kick off the initiative, FV3 will host an invite-only inaugural education forum this October in Nashville for C-suite executives and entertainment industry leaders followed by quarterly sessions beginning in November with ongoing educational workshops and a new rollout of strategy services for FlyteVu clients.
The interactive sessions are designed to excite, educate, and engineer strategies for the coming cultural shift from a marketing and business perspective.
Over the past year, FlyteVu has been building next-gen Web3 marketing strategies and educating current clients on the Web3 space. The introduction of FV3 will further expand the agency’s skill set and knowledge of the metaverse and strategy offering.
The one-day inaugural education forum is designed to create a ‘light bulb moment’ for participants, helping marketers understand how to leverage the metaverse as more than just a marketing stunt but a transformative tool for community building, creative storytelling and driving new business.
To learn more about the FV3 services and to reserve a seat for the upcoming workshop series, visit www.flytevu.com/fv3 and follow @FlyteVu on social media.
MyTN mobile app wins technology award
Tennessee’s mobile app connecting citizens to state services is named in the Center for Digital Government’s annual awards.
MyTN provides a single point of access to a growing list of government services whenever and wherever users need it and offers notification and alert systems to keep users up to date.
MyTN is a product of the Department of Finance and Administration’s Strategic Technology Solutions and the Customer Focused Government division.
The MyTN project is one of 13 from across the nation receiving the center’s Government Experience Awards for projects having a single area of focus. The awards recognize the achievements and best practices of states, cities and counties that are radically improving the experience of government services.
The Center for Digital Government is a national research and advisory institute focused on technology policy and best practices in state and local government. CDG is a division of e.Republic, the nation’s only media and research company focused exclusively on state and local government and education.
Scout’s Pub opens new Midtown location
Scout’s Pub, a Southern gastropub from Franklin-based hospitality group A. Marshall Hospitality, opened its new Midtown location Wednesday. The 150-seat restaurant and bar, located at 101 17th Avenue S., will mimic Franklin’s Westhaven location.
Scout’s Pub is a family-friendly, community-focused bar and restaurant with a seasonally rotating menu and handcrafted cocktails, as well as a large selection of imported and domestic beers with a focus on locally-sourced brews, including drafts from favorites like Bearded Iris, Yazoo, Diskin Cider and TailGate Brewery.
The spirited cocktail menu includes classics like a smoked old fashioned and seasonal sangria, as well as unique adds like the Scout’s Swizzle and a TN Blues Martini.
The Midtown location will initially open for happy hour and dinner with brunch and lunch coming later this fall. Diners can anticipate Scout’s Pub specialties like the Whiskey Frites topped with apple bacon, whiskey glaze, Parmesan and a housemade aioli; burgers made with Bear Creek Farm angus beef; select flatbread pizzas; shareables and more. Gluten-free substitutions are available for various menu items.
Named for the beloved Marshall family dog, Scout’s Pub Midtown will welcome four-legged friends on their outdoor patio and will focus on animal welfare nonprofits for charitable partnerships and future events.