Target Industries Benefit from Regional Strengths
The Innovation Valley Blueprint 2.0 outlines 5 target recruitment clusters that are perfectly suited to take maximum advantage of the area’s strengths, especially its concentration of scientific and technological assets, central location, well-developed infrastructure, and low cost of living.
The key target recruitment clusters are:
- Advanced Technology & ManufacturingHome to leading research in advanced materials at Oak Ridge National Laboratory and a strong existing manufacturing base, Innovation Valley focuses on automotive suppliers, carbon fiber and composites, medical equipment and specialty foods within this target recruitment cluster.
- Corporate ServicesDue to an excellent quality of life, low cost of doing business and an skilled professional workforce, corporate service companies are locating in the Innovation Valley. Over 70 companies' headquarter operations are located within the Innovation Valley. An example of these companies are Bandit Lites, Bush Brothers, Pilot Travel Centers, Scripps Networks Interactive and Tennessee Valley Authority. Over 25 back office (HR, Finance, Customer Service) operations are also within the Innovation Valley. An example of these companies are Elavon, Kimberly Clark, Marriott Financial Service Center, and Whirlpool.
- Creative Media Services - Innovation Valley boasts prominent media companies, such as Scripps Networks, RIVR Media and Jewelry Television, employing East Tennesseans in film and video production, programming for broadcast and cable networks, digital media production, pre-productions, post-production, editing, imaging, graphics, animation, distribution and replication.
- Energy - Refers to energy storage systems and advanced batteries, nuclear component manufacturing, smart grid technologies, and renewable energy. Innovation Valley is home to leading research in energy at Electric Power Research Institute, EnerNex, Oak Ridge National Laboratory, Tennessee Valley Authority, University of Tennessee and Y-12 National Security Complex.
- Transportation - Located at the intersection of Interstates 40, 75 and 81, CSX and Norfolk Southern main rail lines, a short line rail owned by Gulf & Ohio, and within a day's drive of three-quarters of the U.S. population, Innovation Valley is a prime location for transportation related companies, such as distribution and logistics. Approximately 14,000 warehousing and distribution jobs are in the Innovation Valley and account for an annual payroll of $3.8 billion. Examples of warehousing and distribution companies in the Innovation Valley are American Honda/Komyo, H.T. Hackney and Sysco.