FREQUENTLY ASKED QUESTIONS ON INNOVATION VALLEY, INC.

Innovation Valley Inc. is a regional partnership created to implement a new five-year economic development Blueprint for the Knoxville-Oak Ridge Innovation Valley. Partner organizations include: Blount County Chamber of Commerce, Knoxville Chamber, Loudon County Economic Development Agency, Oak Ridge Economic Partnership, The Roane Alliance, and Tellico Reservoir Development Agency.

• The Blueprint includes recommendations in six primary program areas to cement the region’s excellent reputation as the Innovation Valley. Program areas are:
  • Education and Workforce Development
  • Technology and Entrepreneurship
  • Global Marketing
  • Business Retention and Expansion
  • Public Policy
  • Resources for Living
• The Blueprint was developed in 2007 based on extensive economic and demographic research, community stakeholder interviews, and analysis of comparable cities including: Richmond, Raleigh, Albuquerque, Orlando, and Austin
• In addition, the blueprint recommends specific tactics for attracting, retaining and growing targeted business sectors for the region including:
  • Agricultural Research and Development
  • Materials Science
  • Media Technology
  • Nanotechnology
  • Renewable Energy
  • Automotive Suppliers
  • Pleasure Boat Manufacturing
  • Warehouse/Distribution
  • Logistics Services
  • Regional Headquarters
  • Retirement Services
  • Shared Service Facilities
  • Venture Capital Firms
• Innovation Valley Inc. will be led by a board of directors initially made up of Kevin Clayton, Chief Executive Officer of Clayton Homes, Inc.; Jimmy Haslam, President of Pilot Travel Centers LLC; and Thom Mason, Director of the Oak Ridge National Laboratory, with others to be added from the representative communities.

Potential Questions

1. Why do we need a new economic development plan for the region?
The Knoxville-Oak Ridge region has enjoyed good economic success in recent years, thanks in part to a strategic plan that was developed to guide our efforts from 2003 to 2007. Developing a new economic Blueprint was the next phase in looking toward long-term economic success. This plan will extend our momentum for five more years as we continue our efforts to be recognized as the Innovation Valley.

2. How were the regional partners selected?
Research for the new economic Blueprint included a study of the regional labor shed. The six economic development organizations that have joined the Innovation Valley Inc. partnership are representative of the communities that are directly impacted by economic development along the Innovation Valley Technology Corridor.

3. How does this relate to Jobs Now!?
Jobs Now!was a five-year program that was completed in 2007. The new Blueprint has been developed to further build on the successful development that resulted, in part, from the Jobs Now! effort.