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 September 04, 2015 18:06 GMT
WASHINGTON (AP) -- The unemployment rate tumbled to a seven-year low in August as employers added a modest 173,000 jobs, complicating the U.S. Federal Reserve's decision whether to raise rates in two weeks.
The Labor Department says the unemployment rate fell to 5.1 percent from 5.3 percent, the lowest since April 2008.
Hiring in August was the weakest in five months, but the government revised up the June and July figures by a combined 44,000 jobs. The economy generated 221,000 jobs a month from June through August, up from an average 189,000 in March through May.
Steady hiring could encourage the Fed to raise rates for the first time in a decade. Still, stock market turbulence, a persistently low inflation rate and a sharp slowdown in China could weigh on officials.
LABOR DAY GASOLINE PRICES
CHICAGO (AP) -- For the first time in a decade, the average price for a gallon of gas is below $2.50 for the final summer getaway of the season.
Patrick DeHaan, who's a senior petroleum analyst at GasBuddy.com, says the national average is $2.42 a gallon. That's 20 cents lower than a month ago and about a dollar less than a year ago.
DeHaan adds that gas prices could be under $2.00 a gallon by Christmas, with GasBuddy.com predicting a nationwide average of $1.98 a gallon.
BERLIN (AP) -- German factory orders dropped a larger than expected 1.4 percent in July compared to the previous month, dragged down by flagging foreign demand.
The Federal Statistical Office reported Friday that it revised June's 2 percent increase downward to a rise of 1.8 percent, adjusted for seasonal and calendar factors.
In July, domestic orders increased by 4.1 percent but foreign orders decreased 5.2 percent. New orders from the euro currency area were up 2.2 percent, but new orders from other countries dropped 9.5 percent.
UniCredit economist Andreas Rees says the July drop, greater than the 0.6 percent drop predicted by analysts, seems more of a "technical breather after a strong rally" than a matter for concern.
Rees says the strong rises in both eurozone and domestic demand are "outright positive details."
USDA PROMOTIONAL PROGRAMS-CONTROVERSY
WASHINGTON (AP) -- The Agriculture Department says it is looking into documents that show that an egg industry organization under government oversight tried to harm sales of an imitation mayonnaise.
According to email documents provided to The Associated Press, the American Egg Board tried to prevent Whole Foods retailers from selling Hampton Creek's eggless Just Mayo spread.
The egg board is one of many industry promotional boards overseen by USDA but paid for by the industries themselves. By law, the boards cannot disparage other commodities.
A USDA spokesman said the department is looking into the documents but declined to say if it would take action.
The egg industry board is only the latest to draw scrutiny. In 2012, USDA's inspector general issued a report saying department needed to improve oversight of the programs.
FLORIDA TIMBER BOOM
LIVE OAK, Fla. (AP) -- The demand for pine, pulp and other timber products is on the rise and that is good sign for much of north Florida and for other timber-producing regions of the southeastern United States.
Dozens of lumber mills and pine straw, bark and wood pellet processing plants have located in north Florida in recent years. Industry experts say the region's warm, moist climate and soil composition allow pine trees to thrive.
Lumber supply issues in the American northwest and in Canada have prompted companies to look to the Southeast. Issues with wood boring beetles and restrictions on cutting timber in federal land have contributing to the supply issues in the northwest and Canada.
Among those banking on Florida's timber is industry is the Austrian company Klausner, which recently opened a $100 million mill in Live Oak.
EAST PALO ALTO, Calif. (AP) -- Toyota is investing $50 million with Stanford University and the Massachusetts Institute of Technology in hopes of gaining an edge in an accelerating race to phase out human drivers.
The financial commitment announced Friday will be made over the next five years at joint research centers at the schools located in Silicon Valley and another technology hub in Cambridge, Massachusetts.
Toyota has hired robotics expert Gill Pratt to oversee research aimed at developing artificial intelligence and other innovations that will enable future car models to navigate the roads without people doing all the steering and stopping.
Major tech companies such as Google and Uber are competing against a range of automakers to make robot cars that will be better drivers than people and save lives by causing fewer accidents.
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