Public Power…. Advantages in Community Economic Development
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Public Power…. Advantages in Community Economic Development. Greg Fay General Manager Clinton Utilities Board. A Little Information about CUB……. Clinton Tennessee. Clinton, TN. We have……… 29,000 Electric Customers 6,000 Water Customers 4,500 Sewer Customers. We have…….

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Public power advantages in community economic development

  • Public Power…. Advantages in Community Economic Development


Public power advantages in community economic development

  • Greg Fay

  • General Manager

  • Clinton Utilities Board


Public power advantages in community economic development

  • A Little Information about CUB……..


Public power advantages in community economic development

Clinton Tennessee

Clinton, TN


Public power advantages in community economic development

  • We have………

  • 29,000 Electric Customers

  • 6,000 Water Customers

  • 4,500 Sewer Customers


Public power advantages in community economic development

We have…….

Combined annual revenue in excess of $55,000,000


Public power advantages in community economic development

  • Question:

  • What responsibly, if any, does a public power utility have to economic development?


Public power advantages in community economic development

Local/Regional Approach

  • Local Industrial Development Association (covers most of our service area)

  • Regional… 16 contiguous counties


Public power advantages in community economic development

Local participation is necessary and popular

Regional participation is VITAL


Public power advantages in community economic development

  • We partnered with our sister utilities and the private sector to combine our resources and market our region …..


Public power advantages in community economic development

  • About 5 years ago we formed East Tennessee Economic Development Agency ……..


Public power advantages in community economic development

We are spending

“huge”

amounts of money branding our region


Public power advantages in community economic development

East Tennessee Economic Development Agency

  • Regional marketing and business recruitment

  • Representing 16 counties in the Knoxville-Oak Ridge Innovation Valley

  • Co-located with the State Department of Economic and Community Development and TVA


Public power advantages in community economic development

Positioned for Success

Regional Efforts

Local Economic Developers

Partners

ECD

TVA

Prospects

ETEDA

Public

Support:

Utilities

Local Governments

Private

Support:

Corporate

Local

Economic Development Organizations


Public power advantages in community economic development

ETEDA Client Services

  • Prospect facilitation

  • Buildings and sites database

  • Community and demographic data

  • Economic development contacts

  • Customized information requests


Public power advantages in community economic development

Target Markets

  • Automotive

  • Distribution

  • Corporate office / shared services

  • Electronics & instruments

  • Medical products & devices

  • Metalworking, machinery & plastics


Public power advantages in community economic development

Competitive Costs

  • Proximity- 75% US market

  • Cost of living- 8% below US average

  • Building costs- 17% below US average

  • Electric rates- 6% below US average

  • Labor costs- 10% below US average

“East Tennessee provides very competitive business costs, and an excellent workforce with outstanding work ethic”

Carl Parsons – Manager of Manufacturing Support

TRW Fuji Valve


Public power advantages in community economic development

Accessibility

  • At the tri-section of I-40, 75, and 81

  • Over 160 daily flights, 16 cities direct

  • CSX and Norfolk Southern mainlines

  • Barge access via the Tennessee River

“We provide timely service to 75% of the US market from our East Tennessee distribution facility”

Patrick Flanagan - Managing Director of Distribution

Wyeth-Ayerst Pharmaceuticals


Public power advantages in community economic development

Knoxville – Oak Ridge

Innovation Valley


Public power advantages in community economic development

Reliable Energy

  • TVA power service 99.999% reliable

  • 30,000 MW of generating capacity

  • Excess capacity in water, gas, and sewer

“TVA’s reliable generating plants, sound power supply processes, and superior transmission system enable it to provide affordable electricity with the highest reliability rating in the nation.”

Bill Baxter, Chairman of the Board

Tennessee Valley Authority


Public power advantages in community economic development

Talented Workforce

  • 3,500 PhD's

  • 45,000 technical workers

  • 75,000 college students

  • 500,000 person labor force

  • Fastest growing metro region in Tennessee – high in migration

“We are particularly pleased with the availability of high quality, intelligent and motivated employees”

Bill Rowe – Plant Manager

Kimberly Clark


Public power advantages in community economic development

Technology Access

  • ORNL and UT

  • Advanced materials research

    • HTML

    • Metals Processing Lab

  • Nanotechnology

    • Center for Nanophase Materials

  • Energy research

“Very few areas in the US offer the technology infrastructure of this region. Even fewer have a comparable quality of life.”

Dr. Terry Douglass - Former President

CTI, Inc. (makers of PET scan technology)


Public power advantages in community economic development

Quality Lifestyle

  • Spectacular natural beauty

  • Twice named America’s most livable city

  • National award winning schools

  • Low tax burden - low cost of living

  • Family oriented environment

“We located our financial services center here for the pro-business environment and the unmatched quality of life.”

Pamela Murray –Executive Vice President

Marriott International - Enterprise Accounting Services


Public power advantages in community economic development

Jobs Now!

Jobs Now:a five-year regional fundraising effort designed to provide additional resources to increase economic growth in the Knoxville Oak Ridge Innovation Valley


Public power advantages in community economic development

Jobs Now! Five-Year Goals

  • Create 35,000 net new jobs

  • Increase capital investment by $2.5B

  • Increase per capita income by $5000

  • (second year-140% above projections)


Public power advantages in community economic development

  • We have a recipe for success and we are in the kitchen cooking…

  • Greg Fay…


Public power advantages in community economic development

  • Questions?????


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