Nashville may be lauded as one of top business centers in the country but that might not be enough to persuade investors to use an exchange traded fund with a specific focus on the city.
LocalShares recently rolled out the Nashville Area ETF (NYSEArca: NASH), the first city-specific fund, that covers 10 health care companies, three health-care real estate investment trusts and a group of retailers, industrials and financials centered in Nashville. [Will Investors Dance to New Nashville ETF’s Tune?]
The city experienced the fastest job growth in 2012 and provides an environment for a high quality of life, writes Trang Ho for Investor’s Business Daily.
Nashville, home to over 300 health-care companies, is also known as America’s health-care hub.
Forbes has ranked the city and surrounding area as the fifth best place for businesses and careers.
The state of Tennessee also boasts a corporate tax rate of 6.5%, the 11th lowest in the U.S.
“We feel we are ideally situated for continued growth when you consider our geographical location and that Nashville is one of only a dozen major U.S. cities connected to three major interstates,” Ralph Schulz, president and CEO of the Nashville Area Chamber of Commerce, said in a press release. “These attributes along with our competitive tax structure and strong workforce have allowed for a diverse base of publicly traded headquartered companies, and our competitive economic development and recruiting programs have us poised for further growth.” [The First City-Specific ETF Targets Nashville Area]