Chamber Assists 11 Expansions, 3 New Companies Between July 1, 2015 And End Of 2017

Monday, February 26, 2018

The Chattanooga Chamber of Commerce assisted 14 companies between July 1, 2015 and Dec. 31, 2017, including 11 expansions and three companies new to our area, officials said.

 

These companies include West Star Aviation, Yanfeng Automotive Interiors, Chattanooga Seating Systems, HomeServe USA and M&M Industries, whose recent decision to expand will create more than 110 jobs in the Highland Park area.

 

A recent economic impact analysis examines both the one-time and ongoing economic impact of that growth. The study measures the dollar value of total economic output, jobs, wages, local tax revenue and consumer expenditures resulting from the Chamber’s economic development work.

 

Highlights of the Chamber’s impact based on this analysis include:

 

·        A one-time economic impact, from private capital investment, of $582 million

·        Additional school tax revenue of $3 million from that investment

·        Creation of more than 5,000 direct and indirect jobs during the study period of July 1, 2015 to Dec. 31, 2017, with $251 million in wages

·        New city and county tax revenue of $6.9 million generated by these jobs

·        A return of $4.27 for each dollar Hamilton County and the City of Chattanooga contributed to the Chamber’s economic development efforts during the study period

·        A return of $10.95 for each dollar Hamilton County and the City of Chattanooga contributed to the Chamber’s economic development efforts, when considering a 10-year period of continuous operation for the companies the Chamber assisted

 

“This study tells the story of the ripple effect of economic development on our community, not only capital investment and jobs, but also additional tax revenue and consumer spending generated by economic activity — restaurants, grocery stores, housing, entertainment and more,” said Charles Wood, Vice President of Economic Development, Chattanooga Chamber of Commerce. “We are proud of these results we achieved with our public and private partners, and we know our continued work is important for many people in the region who still need good jobs.”

 

Read the full analysis here.



Gas Prices Drop 0.6 Cents In Chattanooga

Gasoline prices in Chattanooga have risen 0.6 cents per gallon in the past week, averaging $2.47 per gallon on Monday, according to GasBuddy's daily survey of 170 stations in Chattanooga. This compares with the national average that has fallen 0.8 cents per gallon versus last week to $2.83 per gallon, according to GasBuddy. Average gasoline prices on Sept. 24 in Chattanooga ... (click for more)

TN Rand Employees Complete Customized Training

Chattanooga State’s Division of Economic and Workforce Development responded to the request of TN Rand for an employee leadership-training program. Chattanooga State, along with TN Rand, developed a customized training solution that covered topics of Communication; Building Effective Teams; Coaching; Delegation; Morale Motivation and Discipline; Decision Making; Problem Solving; ... (click for more)

City Council Considering Possible Curbs On Steep Slope, Flood Plain Development

The City Council, which is considering possible curbs on steep slope and flood plain development, heard a presentation on the topic from the Regional Planning Agency staff on Tuesday. Councilman Darrin Ledford said a public hearing will come next. He said the council hears frequent criticism of development on steep hillsides and lowlands, "and I expect a great turnout for the ... (click for more)

Judge Denies New Trial For Unjolee Moore In 2010 Murder

Criminal Court Judge Don Poole has denied a new trial for a man convicted of a 2010 murder. Unjolee Moore, at a recent hearing, claimed that he made a confession after being beaten by a detective and held for over 13 hours while handcuffed behind his back. He a lso said he had ineffective assistance of counsel. His current lawyer, Daniel Murphy, said he was able to obtain ... (click for more)

Why I'm Voting Republican And So Should You

For much of my life, the commitment to the Democratic Party has puzzled me. I was raised to analyze both sides of issues and to make an intelligent decision based upon that information. The values of self-reliance, hard work, and individual liberty that I grew up with were the same American values that have made this country exceptional. As I have grown older, I have witnessed ... (click for more)

Roy Exum: UT’s Genius Stroke

If all goes as (very carefully) planned, the most dynamic president to be hired at the University of Tennessee since the legendary Andy Holt retired in 1970, will be ushered into office today by the university’s board of trustees. The selection of Randy Boyd to take over his ala mater is a genius stroke and certainly seems to solidify two of life’s greatest truths. The first ... (click for more)