Chattanooga won “Most Cost-Effective” city in ForeignDirectInvestment magazine’s U.S. Cities and States of the Future 2005-06 awards.
The Scenic City also won second place for “Best Promotion Strategy” for efforts to market Chattanooga as an ideal place to do business.
More than 40 cities participated in the competition, which was judged by location consultants and corporate executives.
The winners are highlighted in the June/July issue of fDi magazine, and the results are posted on the fDi website at www.fdimagazine.com. The website receives over one million hits a month and 42,000 unique users.
In addition, fDi will run a series of ads, featuring the U.S. Cities and States of the Future in the Financial Times Newspaper.
The magazine citation termed Chattanooga’s rental and salary rates “extremely attractive” to business owners. It said that the city’s workers possess a solid work ethic, job turnover is low and employee dedication is high.
The award for “Best Promotion Strategy” was based on the Chamber’s Tell the World! job growth campaign. The four-year marketing and business recruitment effort to grow 20,000 jobs by 2007 resulted from a private-public investment of $9 million.
With a circulation of 30,000, fDi is the world's leading global foreign investment-related magazine.