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Economic Prosperity

Growing prosperity anchors within the context of the framework of our state, but it must also consider the city's particular economic characteristics. As a result, my plan is adapted to the specific conditions that exist inside the city limits of District 9 and continues to uphold the following principles shared by our people and business leaders.

Develop Data-Driven, Place-Based Development Strategies

We will encourage growth and investment in the city's core business district and communities through a data-driven, place-based approach. We will identify investment prospects, and there will be an ideal fit between company demands for location, property, parking, and transit access. We will explore big and small-scale opportunities wherever the match is correct. We will consistently assess return on investment, financial ability to execute, and the development group's experience before engaging in a project that may need the assistance of an economic partnership or in-kind support.

Create a Workforce That is Well-Prepared and Well-Positioned for Success

Economic growth relies entirely on a capable, skilled workforce; thus, training the Memphis education system is critical to keep and deploy qualified people. Education and workforce training programs in our state, to include city and local employers, must continue to work together to help current personnel and those who have not yet entered the workforce develop the skills needed for productivity and personal success.

Existing Businesses with Growth Potential Should be Promoted

Economic growth depends entirely on a capable, skilled workforce; hence, educating the Memphis education system is vital for retaining and deploying qualified individuals. Our state's education and workforce development programs, including city and local businesses, must continue to collaborate to assist current employees and those who have not yet entered the workforce in developing the skills necessary for productivity and personal success.

Existing Businesses with Growth Potential Should be Promoted

Economic growth usually favors attracting new businesses above retaining and developing existing ones. Our strategy must be balanced, with an emphasis on fostering STEM firms that are related to asset clusters.

Encourage Public-Private Collaboration to Maximize Resources, Knowledge, and Innovation

To enhance the efficacy of limited economic development resources, partnerships and collaboration between public and private leaders are essential.

Make the Road to Development Less Difficult

All levels of government must simplify and streamline their processes, programs, and rules to make the path to investment and employment for inner-city businesses less challenging to navigate.

Declare the City's Positive Vision

Public and private leaders must maintain a positive vision and sense of optimism about what Memphis is becoming, leveraging strengths, and marketing Memphis as a desirable location to live and work.

Enhance the City's Quality of Life and Location-Based Assets

Economic growth is affected by the standard of living. The location is even more critical. Memphis' cultural and civic life must be nourished by governmental and private leaders, as well as neighborhood Church leaders, who must work collaboratively to make the city's neighborhoods safe and livable for a growing range of current and future residents and companies.

Attract and Nurture Environmentally Conscious Businesses

The economic development strategy will work to green the city in general and Memphis in particular by retaining, expanding, and recruiting environmentally friendly businesses and organizations supporting Memphis's evolving sustainability culture.

Adopt a customer-centric mindset

As with businesses, city governments must recruit and engage with consumers, and current and potential businesses and residents must be considered as customers, with an understanding of the city's competition with other municipalities and regions.

Approach Business Support in a Balanced and Equitable Manner

Large enterprises, small and medium-sized businesses, start-ups, conventional and innovative entrepreneurs, and, because of the challenges they confront, businesses owned by people of color, women, immigrants, and persons with disabilities must all be included in strategies.

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