Gov. Bill Haslam and Economic and Community Development Commissioner Bill Hagerty recently announced the Jobs4TN plan, which lays out the administration’s economic development strategy resulting from a top-to-bottom review of the department.
The governor’s Jobs4TN plan focuses on:
• Prioritizing the strategic recruitment of target industries;
• Assisting existing Tennessee businesses in expansions and remaining competitive;
• Supporting regional and rural economic development strategies;
• Investing in innovation and reducing business regulation.
“My top priority is for Tennessee to be the No. 1 location in the Southeast for high-quality jobs,” Haslam said. “Our Jobs4TN plan is a blueprint for doing just that. By leveraging our existing assets in each region, we will be able to attract new businesses to the state while helping our existing businesses expand and remain competitive.”
The governor’s Jobs4TN plan was developed over a 45-day period and involved interviews with more than 300 stakeholders, community leaders, and national experts as well as through seven roundtables across the state.
The plan includes four key strategies:
1. Prioritizing target clusters and existing industries: Tennessee will focus its recruitment efforts on six target clusters in which the state has a clear competitive advantage: automotive; chemicals and plastics; transportation, logistics and distribution services; business services; healthcare; advanced manufacturing and energy technologies.
The state will focus on helping existing businesses expand and remain competitive through a targeted outreach program.
2. Establishing regional “jobs base camps” across the state: The state Department of Economic and Comm-unity Development will fundamentally restructure its field staff to establish a “jobs base camp” in each of nine regions across the state.
3. Investing in innovation: At the Tennessee Next Conference on Thursday in Nashville, Haslam will detail a major statewide innovation initiative focusing on better coordination of innovation activities across the state, increasing technology transfer and commercialization, promoting entrepreneurship and enhancing Tennessee companies’ access to early-stage capital.
4. Reducing business regulation: Haslam has asked the state Department of Economic and Community Development to lead a review of federal and state business regulations. Over the coming months, state officials will work with existing Tennessee businesses, business advocacy groups and state agencies to identify federal and state laws and regulations inhibiting job growth.