Economic Development & Partnership 2020

Partnership 2020

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• Strategic Drivers

  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. Strategic drivers are:
  
  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.
  
  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.
  
  Place/Livability: The Nashville area’s quality of life will continue to be a key asset to the economic prosperity of the region.
  
  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.

• Goals

  Partnership 2020 is executing a five-year economic development strategy from 2011 to 2016. Goals for the five-year period are below.
  
  Overall:

  • Employment growth of average 1.5% per year in the region -- 50,000
  • Population growth of 1.5% per year in the region -- 119,796
  • Increase per capita personal income by average 1.6% per year -- 3,305
  • Increase GDP by average 2.3% per year in the region -- 9,892

  Economic Diversity:

  • Expansions & retentions -- 250 companies
  • Relocations -- 150 companies
  • Percent of projects within target sectors -- 75%

  Talent development:

  • Percent with associate's degree or higher -- 36%
  • Percent of high school graduates achieving a 21 or higher on the ACT -- 50%
  • Graduation rate -- 80%

  Quality of Place/Livability:
  

  • Migration -- 66,000

  
  

• 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 Nissan North America, Dell Computer, HCA, 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.

• Investor Benefits

  Partnership 2020 investors play a key role in growing the economy of Middle Tennessee.

  
  Investors receive the following exclusive benefits:

  • Company profile with logo and link on nashvilleareainfo.com
  • Company profile within each relocation and expansion marketing package and RFP
  • Opportunity to involve one or more senior-level representatives in P2020 committees, task forces and shared interest groups surrounding issues such as corporate relocation, existing business expansion, green jobs, regional issues and relationships, and international business
  • Invitation to attend three P2020 investor meetings, including the Annual Meeting, for the purpose of building relationships with fellow investors and tracking the Partnership's success.
  • Exclusive invitation to participate in the Nashville Area Chamber's annual Leadership Study Mission - a launchpad for tackling issues facing the region. By meeting leaders in other cities, we discuss best practices with an eye toward improving areas such as mass transit, sports and entertainment, workforce development and public education.
  • Receive information about significant economic development news, including major relocation announcements, via breaking news email.
  • Receive P2020's newsletter, Investor, three times annually, and receive copies of other publications produced throughout the year.

  Lead investors* receive all the benefits listed above, plus:

  • Top corporate officer seat on the Lead Investor Council
  • Priority placement for company profile on nashvilleareainfo.com
  • Priority placement of company profile within each relocation and expansion marketing package and RFP
  • Exclusive invitations to VIP events, including special announcements involving major business relocations and expansions
  • Top corporate officer testimonials about doing business in the region featured on nashvilleareainfo.com

  *Requires a minimum contribution of $20,000 per year for five years