Economic Development & Partnership 2010

Partnership 2010

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• Mission and Goals

  While proud of our past successes, the leadership team for Partnership 2010 realizes that there are still urgent unmet needs for the region that require our intense focus and commitment for the next four years. Among these needs are:

  • The need to successfully recruit more corporate headquarters and high-wage, high-skill manufacturing operations to Middle Tennessee.
  • The need to pursue sustainable and steady growth for the region in order to maintain the great quality of life that we enjoy.
  • The need to stay focused on addressing workforce quality and quantity issues in the region.
  • The need to nurture the growth and success of our existing industry base.

  These are the cornerstones of Partnership 2010's next four years. Measurable goals for this new phase will include:

  • Personal income growth of $1,300 per capita per year.
  • Population growth of 20,000 per year.
  • Employment growth of 12,500 net new jobs per year.
  • $10 billion in economic impact.

• 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.

  The Partnership 2010 staff has 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 2010 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.