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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 October 02, 2014 08:13 GMT
UNDATED (AP) -- Financial markets got off to a rough start in October as disappointing economic news and Ebola fears drove stocks lower. Surveys indicated German and U.S. manufacturing had slowed last month.
Asian stocks fell Thursday amid similar anxieties.
Japan's Nikkei 225 index lost 1.7 percent to 15,815.45 points and South Korea's Kospi fell 0.9 percent to 1,973.31. Australia's S&P/ASX 200 declined 0.7 percent to 5,295.7. Stocks in Southeast Asia also lost ground. Markets in Hong Kong and China were closed for a public holiday.
In New York, investors dumped airline stocks amid concerns that travel will decline because of the Ebola threat, and bought a handful of drug companies working on experimental treatments for the deadly disease.
Nervous investors shifted their money to havens like bonds and gold.
The blue chip Dow index lost 238.19 points, or 1.4 percent, to 16,804.71. The Standard & Poor's 500 index lost 26.13 points, or 1.3 percent, to 1,946.16 and the Nasdaq composite lost 71.30 points, or 1.6 percent, to 4,422.09.
ECONOMY-THE DAY AHEAD
WASHINGTON (AP) --The Labor Department will report on the number of people who applied for unemployment benefits last week. Economists forecast that weekly applications rose a slight 5,000 to a seasonally adjusted 298,000.
Also today, the Commerce Department reports on U.S. factory orders for August. In July, factory orders rose 10.5 percent, the biggest one-month increase on record going back to 1992.
Freddie Mac will report on average U.S. mortgage rates for this week. Last week, the average for the 30-year loan eased to 4.2 percent from 4.23 percent the previous week.
UNDATED (AP) -- The first reported case of Ebola in the United States has caused concern among airline investors and is raising the prospect that some frightened travelers might stay home.
Details of the man's 28-hour trip from western Africa emerged Wednesday. He flew on two airlines, took three flights, and had lengthy airport layovers before reaching Texas on Sept. 20.
Still, federal officials say other passengers on the flights are at no risk of infection because the man had no symptoms at the time of his trip.
Thomas Eric Duncan left Monrovia, Liberia, on Sept. 19 aboard a Brussels Airlines jet to the Belgian capital, according to a Belgian official. After layover of nearly seven hours, he boarded United Airlines Flight 951 to Dulles International Airport near Washington, D.C. After another layover of nearly three hours, he then flew Flight 822 from Dulles to Dallas-Fort Worth International Airport, the airline confirmed.
WASHINGTON (AP) -- The Labor Department is following through on President Barack Obama's pledge to get the ball rolling on a higher national minimum wage in the absence of any congressional legislation to accomplish this goal.
Labor Secretary Thomas Perez has finalized a federal rule raising the minimum wage for employees of federal contractors to $10.10 an hour.
Wednesday's move puts in force a step that Obama announced last February. The Labor Department said nearly 200,000 American workers will benefit from the new minimum, which takes effect Jan 1.
The minimum federal wage is now $7.25 an hour. Obama has proposed the higher pay level for all workers, but that has drawn resistance from Republicans in Congress. In announcing the new rule, Perez says that by raising the minimum wage for workers on federal contracts, the administration "is rewarding a hard day's work with fair pay."
STOCKTON BANKRUPTCY TRIAL
SACRAMENTO, Calif. (AP) -- A federal judge dealing with the bankruptcy issue has struck at the sanctity of public pensions in California.
U.S. Bankruptcy Judge Christopher Klein ruled Wednesday that federal bankruptcy law allows the city of Stockton to treat pension fund obligations like other debts, meaning the city could trim benefits.
The city of Stockton argued that it must make its pension contributions for public employees before its creditors are paid the entire amount they are owned.
The case is being closely watched because it could help clarify who gets paid first by financially strapped cities around the nation -- retirement funds or creditors.
The ruling was prompted by a key creditor's contention that pension obligations should be treated like other debts.
DETROIT (AP) -- Emergency manager Kevyn Orr has testified in bankruptcy court that when he took over Detroit's finances, he found a city with poor services for residents, next to no cash flow and significant neighborhood blight.
Orr, hired by the state in March 2013 to fix Detroit's finances, took the city into the largest municipal bankruptcy in U.S. history. He was called to the stand and questioned by a city lawyer in federal court in Detroit.
Judge Steven Rhodes is to decide whether Orr's plan to remove $7 billion in debt is fair to creditors. Orr has said Detroit's unsecured debt is about $12 billion.
Orr said Wednesday that before he filed for bankruptcy, every creditor wanted to be "paid in full."
PORTLAND, Ore. (AP) -- Oregon's labor commissioner has filed a complaint against heavy-duty truck and school bus manufacturer Daimler Trucks North America, alleging five employees at its Portland plant were subjected to racial slurs and threats.
A statement Wednesday from Commissioner Brad Avakian says the accusations will be investigated, and if they bear out, workers could be awarded damages including back pay if they've quit.
Among the allegations, according to the statement, is that a Daimler Trucks employee threatened a black co-worker with a noose, saying he'd drag the African-American behind a car.
A statement from Daimler Trucks said it doesn't tolerate discrimination and trains employees to avoid it. It also said the company is cooperating with the investigation and has hired an outside investigator to look into the allegations.
KANSAS CITY, Mo. (AP) -- A consumer group is suing the U.S. Department of Health and Human Services to obtain information used to justify insurance rates in Missouri.
The Consumer Council of Missouri filed the complaint Tuesday in federal court. The agency didn't immediately respond to an email to its press office seeking comment.
The consumer group says the new health insurance law requires the agency to make the rate information public so consumers have the chance to challenge the costs they pay for health insurance. But the suit alleges that HHS has denied its records request.
Missouri is one of several states allowing the federal government to run their health insurance exchange. The suit says Missouri is reliant on HHS for any information regarding health insurance plans to be sold in 2015.
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