Stories of Technology, Innovation, & Entrepreneurship in the Southeast

The Knoxville Chamber has released its new strategic vision titled Prosperity Through Innovation (PTI), a multi-year roadmap designed to support the Chamber’s mission of driving regional economic prosperity. PTI leverages innovation to foster a more-cutting edge economy for Knoxville that will ensure it will not be left behind with the onset of the coming industrial revolution. Executed properly and achieving the stated priorities, sizable strides can be made in true economic opportunity for all Knoxvillians.

Like its predecessor, Path to Prosperity, PTI is designed to be a map for fulfilling the Chamber’s mission and delivering meaningful, measurable results. Unlike its predecessor, Prosperity Through Innovation will consist of quantitative priorities:

1. Raise average annual pay 30 percent in Knoxville by 2030;
2. Lower poverty rate 25 percent in Knoxville by 2030;
3. Increase the 25 to 54-year-old population by seven percent in Knoxville by 2030;
4. Raise Knoxville’s ranking in the Milken Institute’s Best-Performing Cities to the top 10 by 2030 (currently 69^th);
5. Raise innovation ranking in the Innovation Cities Index 20 places by 2030 (currently 63^rd); and
6. Align with The 2030 Protocol.

“We believe that the execution of this plan will allow Knoxville to take a significant step toward positioning itself as an economic leader, ” said Dave Miller, Knoxville Chamber Board Chair and First Horizon Executive Vice President of Bank Strategy and Performance. “Investors in the Knoxville Chamber should be proud of the work they are funding as it supports a commitment to building a brighter tomorrow.”

The quantitative priorities outlined above will be achieved through the delivery of six consequential initiatives, including:

1. Developing and implementing an innovation-growth strategy;
2. Developing and implementing an innovative business expansion program;
3. Significantly enhancing the Growth (25-to-54-year-old) demographic talent retention and attraction efforts;
4. Developing and implementing a digital education/training strategy;
5. Developing a Chattanooga – Knoxville – Tri-Cities Partnership; and
6. Updating the Path to Prosperity strategies.

The overarching theme of the new strategic vision is innovation and how proactivity in preparing for the future can redefine Knoxville’s economy. The PTI initiatives aim to quickly identify and assist companies poised for growth, raise a key population sector, ensure that all residents can take advantage of a computing-based economy, and increase regional economic opportunities.

“This new forward-thinking vision will help build a thriving future,” added Miller. “By propelling local businesses expansion and fostering collaboration, we can stimulate our community’s growth and innovative direction.”

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