MemphisED – Economic Development

MemphisED – Economic Development

Good jobs, strong businesses, a growing tax base—those goals are the heart of MemphisED. Shaped by economic development experts, grounded in data and informed by community input, the Plan emphasizes innovation, entrepreneurship and global leadership in our core industries of bioscience, tourism, music/film and logistics.The Memphis ED Plan emphasizes innovation and entrepreneurship, and global leadership in the bioscience, logistics, tourism and music/film industries. Goals include:

  • aggressive marketing of local assets
  • growing existing businesses
  • starting and recruiting new companies
  • developing minority businesses, and
  • attracting talented young professionals.

Some communities do what it takes to be successful. Some do not.

Strategies

Memphis/Shelby County will need to focus vastly higher—and consistent—levels of fiscal, programmatic and personnel resources on the following strategies:

  1. Create a national entrepreneurship “center of excellence” to drive creation of high-value ventures and jobs.
  2. Make University of Memphis Technology Transfer Office one of the best in the country.
  3. Grow market share of minority firms through an incubator and loan fund.
  4. Create internal marketing campaign.
  5. Create external marketing campaign to support business recruitment goals.
  6. Adjust Memphis/Shelby County tax and incentive structure to align with MemphisED goals and priorities.
  7. Develop comprehensive Logistics/Aerotropolis Plan.
  8. Execute “Battelle” Bioscience Plan and develop/execute strategies for BioAgriculture and Biologistics.
  9. Establish Sam Phillips Center for Independent Music.
  10. Develop a Plan to grow film and television production in Memphis.
  11. Grow tourism industry.
  12. Develop best-in-class business retention and expansion program that includes an expanded supplier diversity initiative.
  13. Invigorate Memphis’ Downtown and Mississippi Riverfront.
  14. Establish Shelby County’s park system as one of the premier in the country, beginning with the development of a Master Plan for Shelby Farms.
  15. Expand programming to recruit and retain knowledge workers.