Transitioning Knoxville’s Economy for the Imagination Age

Knoxville Chamber releases economic issue brief

The Knoxville Chamber has released Transitioning Knoxville’s Economy for the Imagination Age, an issue brief that highlights the shift needed for Knoxville’s business ecosystem to take full advantage of the next industrial revolution and the role that the chamber is willing to play in the transition. The brief addresses topics including average annual pay, population growth, and the projected impact of automation. The research outlines that while Knoxville’s economy is good, there are multiple challenges on the horizon and our economy is falling behind peer geographies.

Multiple catalysts for change are mentioned in the report including recruiting high-wage talent and high-growth companies, cultivating innovative entrepreneurs, and increasing the amount of civic furniture. With significant strides in the aforementioned areas, Knoxville can meet its full potential to become the preeminent location for not only businesses, but also families, to start, scale, and stay.

The issue brief lays out a strategy that will take at least a decade to fully implement. Long-term commitment from local partners and the business community at large will be required for the transition to be successful.