To help improve recruitment of the life sciences industry in the Tennessee Valley, TVA is launching a study to identify regions that are best suited for growing and attracting new companies and jobs within the industry.
For the purpose of the study, the life sciences sector includes industries such as discovery and research, product development and pilot plants, manufacturing and drug
product distribution.
The study will help communities in the Valley better understand the life sciences industry and recognize attractive characteristics and marketability of their region to life science companies, officials said.
TVA’s goal is to help grow the region’s economy and job development, it was stated.
TVA will use the expertise of a life sciences industry consultant to facilitate the study and proactively identify and actively engage regions that support the growing life science industry and its potential contributions to the Valley’s overall competitiveness.
Fluor Global Location Strategies of Greenville, S. C., a recognized global leader in the industry, will serve as the consultant for the study. Fluor GLS will issue requests for information to regions this month and begin evaluating areas with the greatest developmental opportunities for the life sciences industry.
A report is expected to be completed by the end of February 2005.
“The life sciences industry is a growing market, and by targeting the sector through this study, we hope to attract more jobs and grow the economy of the Tennessee Valley,” said TVA Senior Vice President of Economic Development John Bradley.
“With Fluor Global Location Strategies’ expertise, TVA will be prepared to assist communities in positioning themselves in a globally competitive market to attract this expanding industry.”
TVA issued a request for proposal to seven consultants capable of providing life science recruitment expertise and negotiated with the top two finalists before selecting Fluor GLS.
In fiscal year 2004, TVA worked in partnership with various economic
development organizations and partners to help attract or retain 50,388 jobs and leverage $2.1 billion in capital investment. TVA also provided more than $13.5 million in economic development loans.