Knoxville Chamber Releases New Five-Year Strategic Vision: Prosperity Through Innovation

The Knoxville Chamber has released its new strategic vision titled Prosperity Through Innovation (PTI), a multi-year road map designed to support the Knoxville Chamber mission of driving regional economic prosperity. PTI leverages innovation to foster a more-cutting edge economy for Knoxville* that will ensure that 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 Knoxville Chamber’s mission and delivering meaningful, measurable results. Unlike its predecessor, Prosperity Through Innovation will consist of quantitative priorities:

• Raise average annual pay 30 percent in Knoxville by 2030
• Lower poverty rate 25 percent in Knoxville by 2030
• Increase 25 – 54-year-old population 7 percent in Knoxville by 2030
• Raise Knoxville’s ranking in the Milken Institute’s Best-Performing Cities to the top ten by 2030 (currently 69th)
• Raise innovation ranking in the Innovation Cities Index 20 places by 2030 (currently 63rd)
• 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 EVP 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:

• Developing and implementing an innovation-growth strategy
• Developing and implementing an innovative business expansion program
• Significantly enhancing the Growth (25-to-54-year-old) demographic talent retention and attraction efforts
• Developing and implementing a digital education/training strategy
• Developing a Chattanooga – Knoxville – Tri-Cities Partnership
• 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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_{*Knoxville is used to signify both the City of Knoxville and Knox County interchangeably unless otherwise noted.}