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Memphis Fast Forward – a comprehensive blueprint for success

Memphis Fast Forward – a comprehensive blueprint for success. Southeast Conference American Association of Airport Executives Annual Conference April 19, 2010 Tom Schmitt, Chairman Greater Memphis Chamber. Memphis Fast Forward. A plan that works MemphisED Corroborating evidence

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Memphis Fast Forward – a comprehensive blueprint for success

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  1. Memphis Fast Forward –a comprehensive blueprint for success Southeast Conference American Association of Airport Executives Annual Conference April 19, 2010 Tom Schmitt, Chairman Greater Memphis Chamber

  2. Memphis Fast Forward • A plan that works • MemphisED • Corroborating evidence • Gaining ground in a difficult economy • Return on investment • Five major goals • The Aerotropolis – a MemphisED initiative with a long reach

  3. A comprehensive blueprint for success • Memphis Fast Forward is an aggressive plan designed to bring new businesses and jobs to Memphis and create a culture that makes the right workers want to keep Memphis as their home. • MemphisED - emphasizing innovation and entrepreneurship, and global leadership in the bioscience, logistics, tourism and music/film industries • People First - calling for education and training to help people develop to their full capacity, starting at birth and continuing throughout their careers • Operation Safe Community - providing proven crime abatement and intervention strategies through effective policing, prosecution and law enforcement/community partnerships • City and County Efficiency Plans - increasing efficiencies and better return on tax dollar investments for lean government, progressive policy and overall stability

  4. Envisioning Success – Memphis in 2012 • When the Memphis Fast Forward goals have been achieved by the end of 2012, our community will: • Have 50,000 more jobs • Generate nearly $85 million more in annual tax revenues from the expanded job base • Be among the safest communities of its size in the country • See improved student outcomes at all levels • Be positioned as a major economic center of the southern United States Envisioning Success

  5. Our five major goals D B C A E Developing a culture of innovation Becoming a ‘Place of Choice’ for knowledge workers Marketing Memphis and Shelby County Pursuing Key Targets Growing Existing Firms INNOVA investments provide new jobs and enable life-saving research. BioWorks Foundation Awarded $30 million in federal New Markets Tax Credits and $2.9 million from US Dept. of Labor to promote "green" jobs • Chamber helped 64 companies expand • 5,269 new jobs • $1.062 billion in new investment. • MMBC - Held 20 Matchmaker events with 90+ corporations and 550+ W/MBEs. • New contracts awarded exceed $122 million. The Chamber markets Memphis to the right audience. 1,540 new jobs and $90 million of new investment. • Shelby Farms – Woodland Discovery Playground • An innovative new play space in the heart of Shelby Farms Park • Partner project “Rebirth of an Urban Forest”Large scale privet removal and tree replanting tied to urban forest education for children

  6. Measuring our progress Performance to date

  7. Corroborating Evidence • Site Selection – Top Metros of 2009: • Memphis ranked 9th among metros with 1 million or more population. (No otherlarge TN metro ranked in top 10). • Moody’s Economy.com – Memphis metro “Employment Growth Rank” compared to 392 U.S. metro areas: • 2nd quartile (#128) for 2008 – 2010 • 2nd quartile (#109) for 2008 - 2013

  8. Memphis Fast Forward • A plan that works • MemphisED • Corroborating evidence • Gaining ground in a difficult economy • Return on investment • Five major goals • The Aerotropolis – a MemphisED initiative with a long reach

  9. Runway: • 4.4 million tons of cargo • $28 billion-plus into a five-county metro area economy • 220,154 jobs (34.4% of total area emp.) • Road: • I-40 and I-55 converge • 400 trucking companies in the area • Overnight by truck to 152 US markets • I -69 - the “NAFTA Highway” • Rail: • Norfolk Southern • Burlington Northern/Santa Fe • Union Pacific • CSX • Illinois Central/ Canadian National • River: • The 4th largest inland port in the U.S. • Second largest port on the Mississippi River • More than 19 million tons of cargo annually America’s Aerotropolis - building on our strong capabilities Building on our strong existing capabilities

  10. Memphis: America’s Aerotropolis • We are seeing results in four key areas • Improving the “curb appeal” • Branding Memphis as “America’s Aerotropolis” • Upgrading/improving the Infrastructure • Getting Memphis on the global map

  11. Making a better first impression for visitors • $1.6 million approved by City Council’s for Plough Boulevard beautification • 289 trees scheduled for planting in spring along Winchester Road at the airport entrance and another 900 trees slated for fall 2010. • Several “clean-up days” made a dent in litter and debris in surrounding areas • “Clean Memphis” collaboration with Memphis Airport Area Development Corporation and Airways-Lamar Business Association Curb Appeal

  12. Memphis: America’s Aerotropolis • Nine “Memphis: America’s Aerotropolis” signs have been placed along roadways leading to the airport. Branding America’s Aerotropolis

  13. Memphis Aerotropolis and Social Media • A Facebook fan page is increasing brand awareness. • Twitter gets regular Aerotropolis updates Branding America’s Aerotropolis

  14. Improving the infrastructure • Specific strategies created for critical Aerotropolis roadway improvement • Completion of I-69 • Airways/I-240 interchange • Holmes Road/I-55 interchange • I-22/Lamar Corridor key to new BNSF rail yard • Facility includes 44,000 feet of track, 6,000 truck parking slots • Generates 500 trucks movements a day • The Commercial Appeal calls it a $200 million vote of confidence in the city's strategic importance in moving consumer goods across the nation. Infrastructure improvements

  15. Improvements are not just in the corridors • The new full-service facility for ground transportation, targeted to open in spring 2012, is a key element in transforming Memphis International. Infrastructure improvements

  16. A third Mississippi River bridge • Environmental Impact Study and location selection is underway for a multi-modal bridge crossing the Mississippi River • TDOT provided $500,000 in matching funds • Arkansas has committed $500,000 and Mississippi $250,000 for the study. • Interruption to the current two bridges would have an impact of $11 billion to $15 billion to the U.S. economy. Infrastructure improvements

  17. Putting Memphis on the global map • The Aerotropolis team is working with FedEx to co-market its Three Hub Strategy (Memphis/ Paris/Guangzhou, China). • Officials at the 2010 Beijing Airport Cities World Conference & Exhibition will officially announce Memphis as host for the 2011 conference. The Global Map

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