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Memphis Fast Forward – a comprehensive blueprint for success Southeast Conference American Association of Airport Executives Annual Conference April 19,

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Presentation on theme: "Memphis Fast Forward – a comprehensive blueprint for success Southeast Conference American Association of Airport Executives Annual Conference April 19,"— Presentation transcript:

1 Memphis Fast Forward – a comprehensive blueprint for success Southeast Conference American Association of Airport Executives Annual Conference April 19, 2010 Tom Schmitt, Chairman Greater Memphis Chamber

2 Memphis Fast Forward A plan that works MemphisED – Corroborating evidence – Gaining ground in a difficult economy – Return on investment – Five major goals The Aerotropolis – a MemphisED initiative with a long reach 2

3 A comprehensive blueprint for success Memphis Fast Forward is an aggressive plan designed to bring new businesses and jobs to Memphis and create a culture that makes the right workers want to keep Memphis as their home.  MemphisED - emphasizing innovation and entrepreneurship, and global leadership in the bioscience, logistics, tourism and music/film industries  People First - calling for education and training to help people develop to their full capacity, starting at birth and continuing throughout their careers  Operation Safe Community - providing proven crime abatement and intervention strategies through effective policing, prosecution and law enforcement/community partnerships  City and County Efficiency Plans - increasing efficiencies and better return on tax dollar investments for lean government, progressive policy and overall stability 3

4 Envisioning Success – Memphis in 2012 When the Memphis Fast Forward goals have been achieved by the end of 2012, our community will: – Have 50,000 more jobs – Generate nearly $85 million more in annual tax revenues from the expanded job base – Be among the safest communities of its size in the country – See improved student outcomes at all levels – Be positioned as a major economic center of the southern United States 4

5 Developing a culture of innovation Marketing Memphis and Shelby County Pursuing Key Targets Growing Existing Firms Becoming a ‘Place of Choice’ for knowledge workers INNOVA investments provide new jobs and enable life-saving research. The Chamber markets Memphis to the right audience. 1,540 new jobs and $90 million of new investment. BioWorks Foundation Awarded $30 million in federal New Markets Tax Credits and $2.9 million from US Dept. of Labor to promote "green" jobs Chamber helped 64 companies expand 5,269 new jobs $1.062 billion in new investment. MMBC - Held 20 Matchmaker events with 90+ corporations and 550+ W/MBEs. New contracts awarded exceed $122 million. Shelby Farms – Woodland Discovery Playground An innovative new play space in the heart of Shelby Farms Park Partner project “Rebirth of an Urban Forest” Large scale privet removal and tree replanting tied to urban forest education for children Our five major goals 5

6 FY 2010New Jobs Capital Investment New M/WBE Receipts 1 st Quarter1,166$379,868,295$48,354,425 2 nd Quarter1,484$118,215,152$27,137,165 2,648$498,083,447$75,491,590 CY ,880$1,673,605,708$149,226,489 Eight Funded Partners FY10 Target4,275$665,300,000$113,200,000 FY10 To- date 2,647$492,213,152$64,719,754 (62%)(74%)(57%) Measuring our progress 6

7 Corroborating Evidence  Site Selection – Top Metros of 2009:  Memphis ranked 9 th among metros with 1 million or more population. (No other large TN metro ranked in top 10).  Moody’s Economy.com – Memphis metro “Employment Growth Rank” compared to 392 U.S. metro areas:  2 nd quartile (#128) for 2008 – 2010  2 nd quartile (#109) for

8 Memphis Fast Forward A plan that works MemphisED – Corroborating evidence – Gaining ground in a difficult economy – Return on investment – Five major goals The Aerotropolis – a MemphisED initiative with a long reach 8

9 America’s Aerotropolis - building on our strong capabilities Building on our strong existing capabilities Road: Road: I-40 and I-55 converge 400 trucking companies in the area Overnight by truck to 152 US markets I the “NAFTA Highway” Runway: Runway: 4.4 million tons of cargo $28 billion-plus into a five-county metro area economy 220,154 jobs (34.4% of total area emp.) Rail: Rail: Norfolk Southern Burlington Northern/Santa Fe Union Pacific CSX Illinois Central/ Canadian National River: River: The 4 th largest inland port in the U.S. Second largest port on the Mississippi River More than 19 million tons of cargo annually 9

10 Memphis: America’s Aerotropolis We are seeing results in four key areas – Improving the “curb appeal” – Branding Memphis as “America’s Aerotropolis” – Upgrading/improving the Infrastructure – Getting Memphis on the global map 10

11 Making a better first impression for visitors $1.6 million approved by City Council’s for Plough Boulevard beautification 289 trees scheduled for planting in spring along Winchester Road at the airport entrance and another 900 trees slated for fall Several “clean-up days” made a dent in litter and debris in surrounding areas – “Clean Memphis” collaboration with Memphis Airport Area Development Corporation and Airways-Lamar Business Association 11

12 Memphis: America’s Aerotropolis Nine “Memphis: America’s Aerotropolis” signs have been placed along roadways leading to the airport. 12

13 A Facebook fan page is increasing brand awareness. Twitter gets regular Aerotropolis updates Memphis Aerotropolis and Social Media 13

14 Improving the infrastructure Specific strategies created for critical Aerotropolis roadway improvement – Completion of I-69 – Airways/I-240 interchange – Holmes Road/I-55 interchange I-22/Lamar Corridor key to new BNSF rail yard – Facility includes 44,000 feet of track, 6,000 truck parking slots – Generates 500 trucks movements a day – The Commercial Appeal calls it a $200 million vote of confidence in the city's strategic importance in moving consumer goods across the nation. 14

15 Improvements are not just in the corridors The new full-service facility for ground transportation, targeted to open in spring 2012, is a key element in transforming Memphis International. 15

16 A third Mississippi River bridge Environmental Impact Study and location selection is underway for a multi-modal bridge crossing the Mississippi River – TDOT provided $500,000 in matching funds – Arkansas has committed $500,000 and Mississippi $250,000 for the study.  Interruption to the current two bridges would have an impact of $11 billion to $15 billion to the U.S. economy. 16

17 Putting Memphis on the global map The Aerotropolis team is working with FedEx to co-market its Three Hub Strategy (Memphis/ Paris/Guangzhou, China). Officials at the 2010 Beijing Airport Cities World Conference & Exhibition will officially announce Memphis as host for the 2011 conference. 17


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