Over the past five years, Chattanooga’s economic development programs have worked to attract nearly $3.2 billion of new investment and generated 10,985 more jobs in Hamilton County, according to the Chattanooga Area Chamber of Commerce.
But with the local jobless rate near a historic low and technology disrupting many traditional industries, the Chamber and other community groups are launching a new economic development strategy to focus more attention on growing, recruiting and diversifying talent, entrepreneurs and the community assets needed in the changing 21st century economy.
Billed as “Chattanooga Climbs,” the new, five-year plan seeks to elevate Chattanooga by attracting more than $1 billion of new capital investment and boosting the average annual pay in Chattanooga above $55,000.
The new development strategy is part of the overall Velocity 2040 goals that emerged from more than a year of community meetings and studies on what Chattanoogans want for the next two decades. Chattanooga Climbs broadens the focus of the Chamber’s previous “Can Do” development strategy by working with more community groups and giving more attention to recruiting and developing talent for today’s increasingly skilled jobs. The plan also encourages businesses to work in schools, colleges and even jails to promote more economic opportunity for all people.
