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Dept. of Economic & Community Development. November 19, 2012 Presented by Allen Borden, Assistant Commissioner. Jobs4TN. Strategy 1 Prioritize Key Clusters and Existing Businesses. Strategy 2 Establish Regional “Jobs Base Camps”. #1 location in the Southeast for High Quality Jobs. - PowerPoint PPT Presentation
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Dept. of Economic & Community Development
November 19, 2012Presented by Allen Borden, Assistant Commissioner
Jobs4TN
Strategy 2Establish
Regional “Jobs Base Camps”
Strategy 3Invest in
Innovation
Strategy 1Prioritize Key Clusters and
Existing Businesses
Strategy 4Reduce
Business Regulation
#1 locationin the
Southeast for High
Quality Jobs
Department Reorganization
Reorganized the department into a regional structure Recruiting assets in direct, day-to-day contact with businesses Nine regional Jobs Base Camps established
Led by a Regional Director Serve as a single point of contact for all jobs and business-
related issues in the region
Leaner department with overall
reduction in staff size by more than
42%
At the same time, business
recruitment team grew by more than
70%
Key Clusters
Motor Vehicles Automotive Parts
Automotive Components Forgings & Stampings
Flat Glass Production Equipment
Small Vehicles & Trailers Tires & Inner Tubes
Automotive
Intermediate Chemicals & Gases Packaged Chemical Products Other Processed Chemicals
Refractories Ammunition
Plastic Materials, Resins & Products Paints & Allied Products
Synthetic Rubber Carbon Fiber & Advanced Composite
Chemical Products & Plastics
Headquarters Data and Call Centers
Financial Services Online Information Services
Computer Services & Programming Facilities Support Services
Business Services Healthcare
Surgical Instruments & Supplies Dental Instruments & Supplies Medical Devices & Equipment
Diagnostic Substances Healthcare Services
Healthcare IT Biological and Biotechnology Products
Health Insurance Products
Health Care
Motors, Generators & Batteries Refrigeration & Heating Equipment
Appliances Lighting Fixtures & Electrical Parts
Turbines & Turbine Generators Clean Energy Products
Electric Services
Advanced Manufacturing & Energy Technologies
Air & Land Transport Transportation Arrangement &
Warehousing Merchandise, Apparel, Accessories,
Food Products, Farm Material & Supplies Wholesaling Catalog & Mail-order
Airports & Bus Terminals Trucking Terminals
Transportation, Logistics, & Distribution Services
Jobs Base Camps
Job Creation and Outreach
From January 2011 – October 2012:
More than 35,174 new jobs announced
More than $6.2 billion announced
3,887 stakeholder meetings held
6,057 existing company visits
Major Announcements: 2012
Smyrna, TNRutherford, County
Decherd, TNFranklin County
HCA, Parallon, Sarah Cannon Nashville, TN
Davidson County
Chattanooga, TNHamilton County
Pulaski, TNGiles County
Clarksville, TNMontgomery County
Bristol, TNSullivan County
Spring Hill, TNMaury County
Dayton, TNRhea County
Major Announcements
Knoxville, TNKnox County
LaVergne, TNRutherford County
Trenton, TNGibson County
Knoxville, TNKnox County
Union City, TNObion County
Memphis, TNShelby County
Nashville, TNDavidson County
New Economic Development Fund
Reimbursable grants made to local industrial development boards
Supports projects in a variety of ways: relocation expenses, temporary office space, capital improvements, retrofitting and other expenditures not previously covered
Only to be used in exceptional cases where the impact of the project on a given community is significant
ECD’s FastTrack program expanded to create economic development fund providing additional grant support for projects
ECD Trade Missions
Mexico
Trade mission on July 17 - 20, 2012, focusing on the state’s automotive industry
Companies attending: Andersen Flaps, BPS Engineering, Colonial Diversified Polymer Products, eSpin Technologies, Global Industrial Components, Gayle Technologies, Quality Filtration
China and South Korea
Trade mission on April 15-21, 2012, focusing on TN’s medical device manufacturers and other health care companies
Companies attending: ABT Molecular Imaging, Christie Medical Holdings, Dream Systems, E-Spin Technologies, Fillauer, Gryphus Diagnostics, Hollywog, iScreen Vision, Silicone Arts Laboratories, Stinger Medical, VenX Medical
SEUS JapanTennessee served as host state
for the 35th Annual Joint Meeting of the Southeast U.S./Japan and Japan-U.S. Southeast associations in Tokyo from Sept. 13-15, 2012
Promotes trade, investment, understanding and friendship between Japan and member states of the Southeast U.S.
Hosted the Tennessee Existing Industry Luncheon for the
Tennessee delegation and officials of Japanese companies operating in the state
International OfficesInvestment Promotion Contracts for investment promotion offices awarded through a
competitive bid process in Japan, Canada and Germany, with the UK in process
Trade RFPs for trade offices issued for India, Germany, China, Mexico and the UK
within the next few months. These offices will be supported by federal STEP funding from the SBA.
Film, Entertainment and Music
Incentive delivery process streamlined
Refundable tax credit repealed
ABC’s “Nashville” television show filming in Music City has met with early critical acclaim
Renewed focus on music and entertainment company recruitment
Marketing New collateral created
Fact sheets include: Japan investment; Memphis Regional Megasite; Transportation, Logistics and Distribution; Advanced Manufacturing; Automotive Industry; European Investment; Canadian Investment; Incentive Snapshot and ECD Accolades
New reports: ECD 2011 Annual Report, ECD Regulatory Reform Report
New directories: 2012 Automotive Supplier Directory, Foreign Investment Guide
New quarterly e-newsletter for site selectors: Site Select TN
New megasite website launched
Renewed focus on social media and growing audience and engagement
Accolades Area Development: 2012 Gold Shovel Award, for
states that have achieved significant success in terms of job creation and economic impact
Chief Executive: Named Tennessee one of the top four states in the nation for business in its annual survey of Best and Worst States for Business
Area Development: Tennessee ranked seventh in Top States for Doing Business list; also scored the #1 ranking for overall infrastructure and global access and #1 for distribution/logistics hub access
Business Facilities: Tennessee ranked No. 1 state in the nation for Automotive Manufacturing Strength for an unprecedented third consecutive year
Site Selection: ranked Tennessee the nation’s eighth best state for business climate for the second year in a row
Three Star
Simplified and tied to measurable outcomes Focus on Governor’s five key priorities Retain the state’s incentive dollar match for economic
development projects Provide grant dollars to assist rural communities Based on MORE principle: Measureable, Outcome
oriented, Reward results, Efficient
Select Tennessee Certified Sites A new, statewide site certification program
to help Tennessee communities prepare available sites for investment and expansion consistent with modern global standards
Sets a consistent and rigorous standard upon which companies can rely in making critical location decisions
ECD partnered with Austin Consulting and The Foote Consulting Group to develop and administer the program
42 applicants, 20 more in the pipeline
Helps further distinguish Tennessee in the site selection community
Helps our communities understand the global competitive environment for their sites and target modernization efforts to achieve certification
Creative Community Summits
Tennessee Main Street and Tennessee Downtowns held a series of Creative Community Summits in Jackson, Franklin and Greeneville
Focused on innovative solutions and strategies to generate economic growth in rural communities
Free of charge to participants, sponsored by ECD and USDA Rural Development
Transparency
Launched the transparency website OpenECD.tn.gov
Easily accessible public information and documents pertaining to ECD grants and incentives
Updated quarterly
Public can sign up to receive email alerts when information has been added and/or updated
INCITE Initiative
$50 million initiative to support innovation across the stateCalled INCITE for its focus on Innovation, Commercialization,
Investment, Technology and EntrepreneurshipGoal is to raise Tennessee’s profile in innovation-based
economic development and drive growth in the creation of knowledge-based jobs
Four areas of focus: Innovation Coordination Commercialization Entrepreneurship Co-Investment Funds
Launch Tennessee
A 5-year strategic initiative with ECD and the Tennessee Technology Development Corporation to create new innovation opportunities in the state
Four key areas of focus: entrepreneurship, commercialization, capital and outreach
In 2012, the nine regional accelerators have screened nearly 500 companies, raised over $10 million in private sector capital, and engaged over 300 mentors
INCITE Fund
Began taking qualified investment applications in February
Since inception, the $30 million INCITE co-investment fund has invested $6.8 million in 17 companies, representing investments in software, internet services, health care and consumer services companies
This investment has directly resulted in follow-on investment of $17.7 million, resulting in cumulative investment of $24.5 million into Tennessee-based businesses
The co-investment fund has $21.8 million of capital which will continue to be invested on a first-come, first-serve basis