Blount County headlines as Innovation Valley earns Five-Star business ranking
July, 2005
Great news for Blount County - A leading national business publication now recognizes the Knoxville-Oak Ridge Innovation Valley as one of America’s best places for business opportunities.
The “Five-Star” ranking, which appears in Expansion Management magazine’s 2005 Mayor’s Challenge, indicates that the region’s business climate is in the top 20 percent of the nation’s 362 metro areas.
The article cites the special role Oak Ridge National Laboratory (ORNL) and the University of Tennessee play in enabling the region “to create a world-class environment in industry sectors upon which the knowledge environment will be built.”
Jeff Wadsworth, Director of Oak Ridge National Laboratory, said, "Merging the fantastic resources of Tennessee's flagship university and one of the world's leading research laboratories has resulted in the creation of more than 60 new companies in the last five years. The potential for East Tennessee, quite literally, is unlimited."
The ranking in Expansion Management’s 2005 Mayor’s Challenge is based upon positive performance during the past 12 months. The Innovation Valley has earned Five-Star rankings for its quality of life and high ratio of knowledge workers. The metro area also ranked 14th among America’s “Hottest 50 Cities” for economic development. The region was not even mentioned in previous year’s hottest cities polls. In addition, the region also earned high marks for its transportation and logistics infrastructure.
Expansion Management quotes Knox County Mayor Mike Ragsdale, who praises the Innovation Valley for its “educated work force, a technology industry that is second to none, a strong business environment and our geographical location.”
Expansion Management circulates to some 45,000 business decision makers nationwide and is closely read by experts who advise companies considering the best location for a future facility.
‘”This ranking is another example of how the Knoxville-Oak Ridge Innovation Valley is focusing on creating a knowledge-based economy that will lead us to the next level in growing our region," according to Rhonda Rice, Executive Vice President of the Knoxville Area Chamber Partnership.
Blount County is a key part of this Greater Knoxville initiative and is served by the Jobs Now! program, which encourages job growth, capital investment and higher average wages. Jobs Now! enjoys the support of 170 private and public investors throughout the region. Day-to-day activities are coordinated by the East Tennessee Economic Development Agency, the Oak Ridge Economic Partnership and the Knoxville Area Chamber Partnership. |
