New Business Recruitment and Attraction Recruitment:
Develop and enhance key relationships with elected officials and economic development entities throughout the region to ensure broad support for business recruitment and to ensure a consistent message is being communicated by all economic development partners.
Communicate the regional focus of the new initiative to external allies who can be a valuable source for new prospects (i.e., the State of Tennessee, the State of Georgia, utilities, site selection consultants, corporate real estate executives, etc.).
Identify and target businesses and industries that will diversify the regional economy and firms that will complement existing businesses and industries.
Develop a master plan for the long-term development of Enterprise South Industrial Park and continue the effort to market the property globally while enlisting support for the effort from regional allies.
Provide accurate, up-to-date, and comprehensive research on demographics, regional data and other information typically needed by site selectors and corporate decision-makers.
Develop an "Honest Brokerage" approach to handling prospects to ensure prospects are shown all regional properties meeting client criteria. Formalize "rules of engagement" and procedures for involving local economic development professionals, elected officials and volunteers.
Marketing:
Implement company specific marketing using CEO-to-CEO recruitment strategies.
Continue to implement a global marketing strategy designed to attract the attention of site selection specialists and corporate real estate executives worldwide.
Continue to disseminate world-class marketing materials highlighting the business assets of all areas in the Chattanooga region.
Participate in appropriate forums to promote national and international awareness of the Chattanooga region.
Serve as the catalyst for placing favorable articles in national and international business publications.
Projected four-year cost: $4.73 Million ($1,182.225/yr)
Existing Business Retention and Expansion
Collaborate with Southeast Industrial Development Association, Tennessee Department of Economic and Community Development, TVA and surrounding counties to expand current existing business and industry visitation program regionally.
Continue to support and expand the services of the Business Development Center to create and incubate viable new businesses.
Host annual regional business appreciation summit.
Provide liaison services between existing businesses in the region and appropriate city, county, and state officials.
Coordinate local, state and federal financing and incentive programs for expanding regional businesses.
Encourage international trade opportunities for business in the region via the Chambers status as grantee for the Chattanooga Foreign Trade Zone.
Maintain a "swat team" of public officials, financial institutions, attorneys, real estate professionals and educational/training/workforce development agencies and organizations to respond quickly to critical situations.
Projected four-year cost: $2.2 Million ($550,000/yr)
Workforce Development
Complete a workforce audit to identify the skill sets, strengths and weaknesses of the regions workforce.
Monitor the workforce needs of existing businesses and coordinate the regions
workforce development initiatives and training programs to meet those needs.
Continue to host and promote high school and college career fairs.
Support school-to-work programs for 8th through 12th grades in collaboration with Chattanooga State, UTC, UT Extension, along with sponsors for each event.
Study the feasibility of establishing a pre-employment training program delivered through area community colleges with support from businesses experiencing hiring and retention problems.
Continue to market the Career Readiness Certificate (CRC), using the WorkKeys System, to both employers and prospective employees through a partnership with Chattanooga State and the Southeast Tennessee Development District. The CRC is a portable credential that confirms an individuals workplace skills required for 21st Century jobs.
Projected four-year cost: $1Million ($250,000/yr)
Education
Work with the Hamilton County Department of Education to create an industry standards-based academy system.
Help to improve accountability systems within the HCDE.
Establish a Business and Education Council to improve transition points in the pre-school through college pipeline and to include workforce preparation skills in the curriculum.
Engage in business and education partnership projects to improve workforce skills in public and adult education.
Establish short-term and long-term communications plans to win broader engagement and support for education.
Assess business community opinions regarding public education legislation at the state level and galvanize the business community toward political action on behalf of education issues.
Projected four-year cost: $1.37 million ($342,775/yr)
Opportunity Fund
Create and manage an Opportunity Fund to enable quick response to future growth opportunities and threats that would impact the region.
Projected four-year cost: $500,000 ($125,000/yr)
Communications/Investor/Public Policy
Communicate regularly with investors and the wider region through a variety of media and technology, including e-mail, newsletters, private meetings, etc.
Aggressively promote and advocate for the Chattanooga region with local, state, and federal governments and economic development officials.
Projected four-year cost: $200,000 ($50,000/yr)
PROJECTED FOUR-YEAR BUDGET: $10,000,000 ($2,500,000/yr)
