Chattanooga’s lofty dreams of building an innovation economy reached street level Wednesday as city crews painted portions of Market Street and hung banners on streetlights downtown to mark the city’s new Innovation District, centered around the newly renovated Edney Building at Market and 11th Street.
Chattanooga Mayor Andy Berke said Wednesday the markings are more than just symbols of a refashioned downtown.
“Just in the last few months, you’ve seen a tremendous amount of enthusiasm and growth in the district and we’re excited about how it is diversifying and adding to our local economy,” Berke said, citing the recent opening of a local office by VaynerMedia and the expansion of BellHops, Southtree and Open Table in the downtown district.
Next week, the Company Lab will relocate its business accelerator program from Main Street into the hub of the new Innovation District – the 10-story Edney Building the Enterprise Center acquired from TVA in March. In October, the Enterprise Center plans to also move into the Edney Building and other space for startup venture should be added by the end of the year.
“This is a long-term play, but we’re getting the ball rolling and we definitely feel like we have some great momentum,” said Ken Hays, president of the Enterprise Center, the nonprofit agency trying to promote more tech business startups in Chattanooga.