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VOL. 44 | NO. 27 | Friday, July 3, 2020

More people want to relocate to Nashville

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A record 27% of home searchers looked to move to another metro area in April and May 2020, a new report from Redfin finds, with Nashville seeing the biggest jump in the share of people looking to move in since last year.

Thirty-five percent of home searches in Nashville during April and May were from Redfin.com users outside the area, compared with 29.1% a year ago.

“More and more people are moving into Nashville from out of state, especially California, Chicago and the Northeast,” says local Redfin agent Mike Estes.

“A lot of the recent movement is driven by jobs. Now that more people are able to work from home due to COVID, some people are deciding to work virtually from Nashville because they love all the area has to offer.”

The latest migration analysis is based on a sample of more than 1 million Redfin.com users who searched for homes across 87 metro areas in April and May, excluding searches unlikely to precede an actual relocation or home purchase.

Nashville is followed by Dallas, which has experienced a 3.4 percentage-point increase since last year.

Agero adding 900 jobs in Clarksville

Agero, Inc. announced this week it plans to invest $2 million to expand its operations in Clarksville and create 900 jobs by 2025.

To support this growth, Agero has expanded its Clarksville operations by nearly 14,000 square feet.

Agero is a B2B provider of driver assistance services, including roadside assistance and accident management. The company says it supports more than 115 million vehicles in partnership with leading automakers, insurance carriers and other clients and responds to approximately 12 million requests for roadside and accident assistance annually.

Agero first established operations in Montgomery County in 2012 and has about 750 employees at that location. It has a second Tennessee facility based in the Tri-Cities area.

Hiring is underway, and the company is interviewing for a variety of onsite and remote work positions. Applicants can apply online at Agero.com/careers.

Cooper named 6 for COVID funds oversight

Nashville Mayor John Cooper has announced six appointees to the COVID-19 Financial Oversight Committee, in keeping with the amended budget passed by Metro Council on June 17. They are:

• Sara Finley, principal, Threshold Corporate Consulting; former senior vice president and general counsel for CVS Caremark

• Ed Henley, founding principal, Pillars Development, Inc.; chair, Rebuilding Together Nashville

• Sean Henry, CEO and president, Nashville Predators & Bridgestone Arena; chair Nashville Downtown Partnership

• Rep. Harold Love Jr., state representative for District 58; senior pastor of Lee Chapel AME

• Vonda McDaniel, president, Central Labor Council of Nashville and Middle Tennessee

• Junaid Odubeko, partner, Bradley Arant Boult Cummings LLP

“The oversight committee is a vital part of our coronavirus response and Metro’s on-going commitment to good stewardship,” Cooper says. “COVID-19 has touched the lives of every Nashvillian, in one way or another. I fully support the upcoming work of this committee and look forward to working with its members to make sure our federal relief funds are spent responsibly and equitably.”

Three additional committee members are members of the Metro Council appointed by Vice Mayor Jim Shulman. The Council member-appointees are Jennifer Gamble, Courtney Johnston, and Sandra Sepulveda.

The Committee will submit its initial recommendations to the mayor, the director of finance, and Metro Council by Aug. 3, and its final recommendation by Nov. 15. The purpose of the committee is to collect, consider and recommend appropriate uses of all federal and state funds provided to the Metropolitan Government specifically for COVID-19 relief and recovery, including but not limited to, federal CARES Act funds.

To date, Nashville has received approximately $121 million from the federal government as part of the CARES Act. Mayor Cooper committed $24 million to bridging the digital divide for Metro Nashville Public School (MNPS) students and families.

FedEx Ground to hire 320 in Nashville

FedEx Ground continues to experience a surge of package volume due to e-commerce growth and is hiring in Nashville for package handlers.

Thos interested can get information at GroundWarehouseJobs.fedex.com. Interested candidates must be at least 18 years of age.

Legal Aid expands conservatorship services

Legal Aid Society of Middle Tennessee and the Cumberlands, Tennessee’s largest nonprofit law firm, will partner with Nelson Mullins and the Association of Corporate Counsel Tennessee Chapter to provide assistance for parents and guardians wishing to seek conservatorship for young adult family members who have acute special needs or who are medically incapacitated.

Conservatorships are established for people who have been deemed gravely disabled by the court and lack the ability to make or communicate significant responsible decisions concerning their health or safety for themselves. Under a conservatorship, a judge appoints a conservator with the authority and responsibility to make some or all important decisions regarding medical care, treatment care provisions, finances, benefits, education and living arrangements.

The legal system is designed to protect citizens’ rights to make decisions for themselves, including young adults with profound disabilities or medical conditions, who are traditionally expected to make their own financial, educational and medical decisions when they turn 18.

Tennessee Bank & Trust rebranded Fourth Capital

Tennessee Bank & Trust has unveiled a new name that connects to Nashville’s past while positioning the community bank for a promising future. Tennessee Bank & Trust is now Fourth Capital.

“We believe local banks are needed now more than ever before. Fourth Capital is a bank built by and for Nashvillians,” says Brian Heinrichs, president of Fourth Capital. “Our new name alludes to our hometown’s history. Our new headquarters on the banks of the Cumberland River will mark a new chapter for us, and we felt it was the perfect time to unveil a fresh brand and message that lets Nashville businesses and residents know we are your community bank, and plan to be for generations to come.”

Locally owned and privately held, Fourth Capital was originally founded in 2004 and envisioned as a community bank built to serve Music City for generations. The Fourth Capital name is a nod to Nashville being the fourth capital of Tennessee. Three other cities – Knoxville, Murfreesboro and Kingston – served as capitals before Nashville in 1826.

Fourth Capital opened its downtown headquarters June 29 at Peabody Plaza in the historic Rolling Mill Hill district.

The space features more than 15,000 square feet between the corporate office and the ground floor branch, with approximately 61 offices and workstations. In addition to its new Rolling Mill Hill headquarters, Fourth Capital has locations in Green Hills and Franklin.

Four Seasons sells out first residential release

Four Seasons Hotel and Private Residences Nashville development sold $80 million in homes within the development in one day, according to partners The Congress Group Inc. and AECOM Capital.

The development is a five-star, full-service hotel with 236 keys, a world-class spa, an array of lavish amenities, and 143 private residences. Project developers say they believe this to be the biggest real estate launch in the city’s history.

The sales, which occurred in March after a short five-week preview period, were a complete sell out of the residences first released by the developer. Another release of residences will be coming. Four Seasons sales gallery is open by appointment.

The project’s advancement has continued on schedule over the last few months tracking for a 2022 completion. The tower is now on the seventh floor and continuing to rise.

Community Health sells Florida hospital

Franklin-based Community Health Systems, Inc., has announced that an affiliate of the company has signed a definitive agreement to sell 480-bed Bayfront Health St. Petersburg and its associated assets to a subsidiary of Orlando Health.

Orlando Health will assume responsibility for the long-term lease and operations of the hospital. The lease transfer is subject to the consent of the St. Petersburg City Council.

The transaction is expected to close by the end of the third quarter this year, subject to regulatory approvals and closing conditions.

Zondervan Books moving to Nashville

HarperCollins Christian Publishing is relocating the Zondervan Books and Zondervan Thrive imprints from Grand Rapids, Michigan, to Nashville.

The company will continue to maintain an office in Grand Rapids, where other Zondervan brands are based. Those brands include Zondervan Academic, Zondervan Reflective, Zonderkidz and the Zondervan Bible Group.

“Creating a more cohesive structure for our trade book publishing imprints allows for us to manage our nonfiction brands under Don Jacobson’s leadership,” says Mark Schoenwald, president and CEO of HarperCollins Christian Publishing and HarperCollins Focus.

NEXTGEN TV comes to Nashville

Nashville’s WTVF, WKRN, WZTV, WUXP and WNAB are among the first in the nation to begin broadcasting with NEXTGEN TV, a new digital broadcast technology.

Based on the same fundamental technology as the internet, digital apps and other web services, NEXTGEN TV can support a wide range of features currently in development, including immersive audio and video (up to 4K), broadcasting to mobile devices, personalized viewing tools and advanced emergency alerts that provide rich media rather than simple text messages. NEXTGEN TV also allows full integration with 5G and other broadband-delivered internet content.

“The rollout of NEXTGEN TV in Nashville represents another strong step forward in bringing a new and modern broadcasting experience to audiences across the country,” says Brian Lawlor, Scripps local media president.

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