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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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Presentation Transcript
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Greg Fay
  • General Manager
  • Clinton Utilities Board
slide5
We have………
  • 29,000 Electric Customers
  • 6,000 Water Customers
  • 4,500 Sewer Customers
slide6
We have…….

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

slide7
Question:
  • What responsibly, if any, does a public power utility have to economic development?
slide8
Local/Regional Approach
  • Local Industrial Development Association (covers most of our service area)
  • Regional… 16 contiguous counties
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Local participation is necessary and popular

Regional participation is VITAL

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

“huge”

amounts of money branding our region

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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
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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

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ETEDA Client Services
  • Prospect facilitation
  • Buildings and sites database
  • Community and demographic data
  • Economic development contacts
  • Customized information requests
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Target Markets
  • Automotive
  • Distribution
  • Corporate office / shared services
  • Electronics & instruments
  • Medical products & devices
  • Metalworking, machinery & plastics
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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

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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

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Knoxville – Oak Ridge

Innovation Valley

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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

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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

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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)

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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

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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

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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)
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