New Future for The Enterprise Center in Motion
Tuesday morning, Chattanooga Mayor Andy Berke, in partnership with Hamilton County Mayor Jim Coppinger, announced The Enterprise Center (TEC) will shift their mission and structure to focus on growing Chattanooga’s innovation economy and addressing issues like access to technology for all citizens.
The announcement follows a report sent to Mayor Berke last week from the Chattanooga Forward task force recommending the “creation of an entity to explore creative strategies to utilize the community’s technological assets such as the high speed gigabit infrastructure.”
“As Chattanooga is becoming a leader in the innovation century, we must capitalize on the momentum of the Gig and our city’s entrepreneurial spirit,” said Mayor Andy Berke. “The Enterprise Center has carried out its vision since 2002, building lasting partnerships with research and technology leaders throughout the region. With this refocus in mission and direction, TEC can now meld its strong history of collaboration with the future of technology and innovation in our community.”
“The Enterprise Center has executed great projects in our community in the past. This is a great opportunity for us to revisit the mission of the organization and form new partnerships to help small businesses leverage technology to grow jobs in Hamilton County,” said Mayor Jim Coppinger.
In 2002, The Enterprise Center was created to lead technology-based economic development initiatives and to identify opportunities to coordinate transfer technology with the region’s research and technology partners including Oak Ridge National Laboratory and the Y-12 National Security Complex.
“It has been my great pleasure to be a part of TEC’s great work,” said Wayne Cropp, President of The Enterprise Center, who will move into a transitional role over the next few months. “Now, the Center is positioned to take on a new role as the hub for connecting the gigabyte as an economic development catalyst. While this approach is more narrowly focused on leveraging our digital assets and building our entrepreneurial community, it builds on the accomplishments of the past decade.”
TEC programs related to Renewal Community programs between 2002 and 2009 resulted in hundreds of jobs and over $50 million in total monetary impact in the region. TEC efforts helped spur development in the Main Street, Northshore and South Broad Street areas.
“I am pleased that Mayor Berke sees TEC as the place to pull together the creative and innovative talent in our community to make the Gig come alive. It is a recognition of the mission of TEC to be a catalyst for change,” said Jim Sattler, Chairman of the Board for The Enterprise Center.
As part of their revitalization program, TEC developed extensive experience in brownfield initiatives aimed at remediation and reuse. Eight clean-up projects have been completed with over 100 acres being made available for redevelopment.
TEC also worked to facilitate the planning of potential high speed rail connecting Atlanta-Chattanooga-Nashville. Cropp will ensure that these projects are successfully completed or transitioned to other entities before new leadership is appointed in the coming weeks.
“As a past board chair of The Enterprise Center, the decision by Mayor Berke continues a critical partnership between the city and TEC. We were created to be a coordinator for technology and Mayor Berke’s approach to innovation rejuvenates our mission,” said Jim Hall, former chairman of the National Transportation Safety Board.
A team has been named to guide the transition of TEC over the coming months, including selecting new board members and a president for the organization. The transition group will work with stakeholders to review TEC bylaws, structure, strategic plan, and projects to ensure a smooth transition.
“We envision this will be a short process, so that a newly focused Enterprise Center can hit the ground running and capitalize on all the opportunity for the gig and the potential for Chattanooga in the innovation economy” said Sydney Crisp, Unum's Vice President for Global IT Infrastructure and Risk Management, who also serves as a member of TEC's transition team.
The TEC transition team includes:
-- Kristina Montague, The Jump Fund
-- Ted Alling, Lamp Post Group
-- Ken Hays, Kinsey, Probasco & Hays
-- David Belitz, Chattanooga Renaissance Fund
-- Sydney Crisp, Unum
-- Sarah Morgan, Benwood Foundation
More Business News
Last Update on August 05, 2015 07:27 GMT
WASHINGTON (AP) -- Payroll processor ADP reports today on how many jobs private employers added in July. The Commerce Department reports on the U.S. trade gap for June and the Institute for Supply Management, a trade group of purchasing managers, issues its index of non-manufacturing activity for July.
Corporate earnings reports are also expected.
GENERAL MOTORS-PLANT INVESTMENT
FLINT, Michigan (AP) -- General Motors says it's investing $877 million to upgrade an assembly plant in Flint.
The company plans to build a new, 883,000-square-foot body shop for Flint Assembly, which makes full-size pickups for the Chevrolet and GMC brands.
The new body shop will be closer to the Flint Metal Center, which supplies sheet metal to the plant. Construction is expected to begin in early 2016 and finish in 2018.
Flint Assembly, which opened in 1947, is GM's oldest plant in North America. GM says the upgrade will reduce the time and cost to ship parts between the two plants.
TOXIC ALGAE BLOOM
SEATTLE (AP) -- The Pacific seafood industry, coastal tourism and marine ecosystems could suffer from a vast bloom of toxic algae off the West Coast.
Researchers say the bloom is denser, more widespread and deeper than scientists feared even weeks ago.
This coastal ribbon of microscopic algae, up to 40 miles wide and 650 feet deep in places, is flourishing amid unusually warm Pacific Ocean temperatures. It now stretches from at least California to Alaska and has shut down lucrative fisheries. Shellfish managers have doubled the area off Washington's coast that is closed to Dungeness crab fishing, after finding elevated levels of marine toxins in tested crab meat.
So-called "red tides" are cyclical and have happened many times before, but ocean researchers say this one is much larger and persisting much longer, with higher levels of neurotoxins.
Dan Ayres, coastal shellfish manager for the Washington Department of Fish and Wildlife, says the bloom likely will bring a premature end to this year's crab season.
SAN FRANCISCO (AP) -- Netflix is giving new parents on its payroll up to a year of paid leave in a move that could pressure other technology employers to improve their baby benefits as they vie for talent.
The employee benefit announced Tuesday on Netflix's blog is generous even by the high standards of Silicon Valley, where free meals and other perquisites supplement lavish salaries in the fiercely competitive battle for computer programmers and other technology workers.
Google, which consistently ranks among the best places to work, offers 18 weeks of paid maternity leave. Parents can also take seven to 12 weeks of paid "baby bonding" time during their child's first year.
The U.S. and Papua New Guinea are the only countries among 185 nations and territories that hadn't imposed government-mandated laws requiring employers to pay mothers while on leave with their babies, according to a study released last year by the United Nations' International Labor Organization.
Netflix's baby-benefit policy covers all of the roughly 2,000 people working at its Internet video and DVD-by-mail services, according to the Los Gatos, California, company.
WASHINGTON (AP) -- The staff of the International Monetary Fund is recommending that China wait until at least October 2016 to join an exclusive club of the world's top currencies.
China wants its currency, the yuan, included in a basket of currencies used in IMF operations along with the U.S. dollar, euro, British pound and Japanese yen. It was hoping the yuan could be added this Jan. 1. The IMF board will consider the staff recommendation later this month.
China believes it deserves to be included because it boasts the world's second-biggest economy. But the yuan is not as widely used or freely traded as the other four currencies.
The IMF staff said in a report released Tuesday that it was also worried that adding a new currency Jan. 1 might rattle financial markets on the first day of trading next year.
There have been estimates by some private economists that the Chinese economy will get a major boost if its currency is added.
Since mid-June, the Chinese stock market has been plunging in value despite efforts by the government to end the free-fall.
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