Economic Development & Partnership 2020

Partnership 2020

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• Mission and Goals

  The five-year economic development strategy for Partnership 2020 capitalizes on Middle Tennessee's strongest opportunities, addresses challenges and improves the region’s overall competitiveness.
  
  Measurable goals for this new phase will include:
  
  1. Economic diversity: The Nashville region will provide a diverse range of job opportunities, with emphasis placed on creating jobs in five target industry sectors where Nashville has a competitive advantage:

  • Corporate operations
  • Health care
  • Advanced manufacturing
  • Music, entertainment and creative fields
  • Supply chain management

  2. Talent development: The region’s work force will meet and exceed the needs and ambitions of the companies and industries that are starting, expanding and relocating in the region — today and in the future.
  
  3. Place/Livability: The Nashville area’s quality of life will continue to be a key asset to the economic prosperity of the region.
  
  4. Regionalism: Nashville-area business leaders will implement partnerships that enhance regional collaboration, reflecting a unified approach to issues that impact the region’s economic future.

• Milestones

  Since the Partnership began, the region has seen a radical transformation in economic development. Growth Strategies Organization's Ross Boyle sums it up in the Partnership strategic plan by saying, "[The Partnership] has contributed to the transformation of the Nashville region from a minor-league Southern to a major-league national community." Milestones of the program's success include:

  • Population growth of the region from 53rd in the United States to 38th.
  • Income growth of the region from 138th in the United States to 49th, moving the region from 5 percent below the U.S. median household income average to 7 percent above it.
  • Successful landing of major brand-name corporate relocations including Dell Computer, Saturn Corporation, the HCA headquarters, Caterpillar Financial, Ford Motor Credit and more than 350 other successful relocations.
  • Success in bringing manufacturing operations to Middle Tennessee and working in close partnership with TVA to successfully close those deals. Projects in which the Partnership collaborated with TVA include the Dell relocation, IBP, major expansions at Nissan and Saturn, Bridgestone/Metalpha's location in Clarksville, and numerous others.

• Economic Impact

  Over the last 12 years, the money invested in the Partnership program has had a tremendous economic impact in the Middle Tennessee region.

  Partnership 2020 staff have developed an Economic Impact Model to show the phenomenal return on each dollar invested in the program.

  As the economic model demonstrates, investment in Partnership 2020 ultimately builds more business for investor firms. When successful in our job creation efforts, the Partnership will:

  • Create more than $10 billion in economic impact in the region's economy.
  • Create 50,000 new jobs for the Nashville region, which then translates to:
    • 2,911 new businesses being created in the region.
    • $1 billion in new bank deposits in the region.
    • 22,227 new housing units being added in the region.
    • $1.3 billion in new investment in commercial space in the region.
    • $3.6 billion in new consumer spending in the region.

• Investor Benefits

  Partnership 2010 investors play a key role in growing the economy of Middle Tennessee. Investors receive the following exclusive benefits:

  • A seat on the Partnership 2010 Investors' Council, which will convene for roundtable discussions several times yearly with Mayor Karl Dean and other top regional business leaders to discuss economic development strategies, opportunities and program direction.
  • An invitation to the Partnership 2010 Annual Meeting.
  • A profile of each investor company by business category included under a "resource" tab in every marketing package that is sent to relocation and expansion prospects for the Nashville area. This mechanism will deliver new business directly to investor firms, connecting relocating company needs (e.g. legal or accounting services, real estate agents, contractors) with Partnership investor firms. Only Partnership 2010 investor firms will be included in this resource section.
  • A company profile on our investors' listing.
  • Opportunity for more than one employee of an investor firm to get involved in Partnership 2010 committees and task forces and to receive Partnership 2010 communications.
  • A Partnership 2010 newsletter and other communications throughout the year that demonstrate your return on investment and keep investor companies up-to-date on progress toward Partnership 2010 goals.
  • Opportunity to participate in Partnership 2010 team recruiting trips, trade show opportunities and special events with relocation prospects.