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Article published Jan 23, 2008 New regional development program launched
By Rick Laney of The Daily Times Staff
The Blount County Chamber of Commerce and five other regional economic development agencies have formed Innovation Valley Inc. to encourage successful regional development and bring more businesses to East Tennessee. The privately funded new partnership — announced Tuesday — includes the Blount Chamber, the Knoxville Area Chamber of Commerce, the Loudon County Economic Development Agency, the Oak Ridge Economic Partnership, the Roane Alliance and the Tellico Reservoir Development Agency. Innovation Valley Inc. will build on the efforts of the “Jobs Now!” program that ends this summer after operating for the past five years. While Jobs Now! was a Knoxville and Oak Ridge development program focused solely on recruiting companies to East Tennessee, organizers say Innovation Valley Inc. has an expanded scope. “We want to identify regional issues and work together because we’re truly in a regional economy,” said Bryan Daniels, executive vice president of the Blount County Economic Development Board. “We’ll focus on technology-led economic development as well as education and workforce development. That’s a big differentiator from Jobs Now! which was specific to recruiting.” A board of directors consisting of Kevin Clayton, chief executive officer of Alcoa-based Clayton Homes Inc., Jimmy Haslam, president of Pilot Travel Centers LLC and Thom Mason, president and chief executive officer of UT-Battelle LLC will lead the efforts of Innovation Valley. With the help of Atlanta-based consulting firm Boyette Levy, the six regional economic development agencies crafted a five-year Economic Development Strategic Blueprint last year that recommended the formation of Innovation Valley Inc. and defined its activities. The blueprint includes suggestions in six primary program areas: — Education and workforce development — Technology and entrepreneurship — Global marketing — Business retention and expansion — Public policy — Resources for living “The partnership will provide a holistic regional approach to economic development through coordinated activities, a specific program of work and a successful funding mechanism,” Clayton said. “Innovation Valley Inc. will be responsible for ensuring that we follow the recommendations contained in this very comprehensive blueprint.” Matt Murray, a professor of economics at the University of Tennessee and chairman of the Economic Development Board of Blount County, said Innovation Valley Inc. recognizes the workforce development needs East Tennessee will have if it plans to grow technology-oriented businesses in this area. “These businesses require a skilled workforce and continuing education,” Murray said. “We will seek out every asset we have in the region — the University of Tennessee, Maryville College, Pellissippi State Technical Community College — to recruit and retain the skilled workers these businesses will need.” The Economic Development Strategic Blueprint recommends targeted business sectors for the region and makes specific recommendations for attracting, retaining and growing those industries. The plan also provides specific performance measures and quarterly checkpoints to ensure successful implementation of the programs. According to Daniels, the program of work for Innovation Valley Inc. is still being finalized. Once the program of work is in place, the group plans to seek funding from companies currently involved in Jobs Now! and other businesses.