Mayor Berke believes a growing local economy ensures the health and well-being of our city. To provide a high quality of life for our residents, Chattanoogans need access to economic opportunity. This means ensuring residents have the job training they need and employers have the support from local government to expand and thrive in our city. With this in mind, the City’s Economic Development office was created to focus on growing jobs in Chattanooga.
The main areas of focus for the Economic Development office are:
Growing Small Business
Chattanooga's small businesses are the backbone of our local economy. The City’s Economic Development office works to provide opportunities for entrepreneurs who wish to design and manufacture products in Chattanooga, including tailored pathways to incent and foster business development in various sectors. Efforts are also being taken to enhance the number of minority, veteran and women-owned businesses in Chattanooga.
Recruiting & Retaining
Recruiting and retaining large and small businesses from a variety of sectors enhances economic growth in our region. The City and its partners are developing and expanding targeted initiatives to pool resources from multiple sources and drive business recruitment efforts. These efforts are intended to capitalize on Chattanooga's unique sense of place to recruit businesses that highlight economic strengths – outdoor activity, sustainability, technology, and advanced manufacturing. In addition, the Economic Development office is working to develop initiatives aimed at filling vacated brownfield sites and maximize vacant retail and office space.
Leading the Innovation Economy
Cities are the natural hub for economic growth, research, and business creation. The global resurgence of high tech manufacturing has the capability to create high-quality jobs and will drive the need for more software developers, analytics specialists, and engineers. Chattanooga is leading the way in the Innovation Economy by capitalizing on our unique assets, including the fastest, most pervasive and least expensive Internet in the Western Hemisphere, an urban university, relatively low cost of living. These assets, coupled with strong public private partnerships, enables entrepreneurs and existing businesses to better collaborate, design innovative products and build stronger companies.
Housing Payment in Lieu of Taxes (PILOT) Program
The Residential PILOT Program is a financial incentive, which is designed to encourage multi-family rental development by freezing property taxes at the predevelopment level for a predetermined period of time.