Tuesday: Sunny with an afternoon high in the mid/upper 70s. A northeast wind at 10mph.
Tuesday Night: Clear and cool with an overnight ... More...
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 September 22, 2014 17:29 GMT
NEW YORK (AP) -- Hundreds of activists protesting what they say is Wall Street's role in the climate crisis have gathered in lower Manhattan's financial district.
Scores of environmental activists dressed in blue are marching, carrying signs, chanting and sitting down on Broadway and elsewhere as workers and tourists look on.
Organizers say the protest is meant to highlight the role corporations play in stalling political action to combat global warming. It comes a day after more than 100,000 participated in the People's Climate March through Manhattan.
Participants in Monday's sit-down say they anticipate being arrested to push home their political point.
Urban farmer Ben Shapiro from Youngstown, Ohio, says he came to disrupt Wall Street and actively "confront the system."
WASHINGTON (AP) -- Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce.
The National Association of Realtors says sales of existing homes fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million. That snaps a four-month streak of gains. August sales are down from a July rate of 5.14 million, a figure that was revised slightly downward.
Much of the slowdown came from the exodus of investors, who had been buying properties in the aftermath of the housing bust and recession. Investors accounted for just 12 percent of August purchases, compared to 17 percent a year earlier.
Overall, the pace of home sales has dropped 5.3 percent year-over-year.
Rising prices through much of 2013 and weak income growth priced out many would-be buyers.
FRANKFURT, Germany (AP) -- The head of the European Central Bank is warning that the eurozone's already tepid economic recovery "is losing momentum."
Mario Draghi is telling members of the European parliament that recent economic indicators have given "no indication" of an upturn since August. The 18 countries that use the euro saw no economic growth at all in the second quarter.
Draghi says growth is being threatened by geopolitical disturbances and the failure of member governments to reform their economies and make them more efficient.
The ECB chief also defended the bank's new stimulus program, an offer of cheap, long-term loans to banks. Banks took only 82.6 billion euros at the first offering last week, less than many market analysts expected. Draghi says the takeup was within the bank's expectations.
NEW YORK (AP) -- Apple says it sold more than 10 million iPhone 6 and 6 Plus models, a record for a new model, in the three days after the phones went on sale.
A year ago, Apple Inc. said it had sold 9 million of the then-new iPhone 5C and 5S models.
The iPhone is available in the U.S., Australia, Canada, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore and the U.K. It will go on sale in 20 more countries on Sept. 26 and others by the end of the year.
CEO Tim Cook said Monday that demand for the phones has exceeded the company's expectations. Besides larger screens, the new phones offer faster performance and a wireless chip for making credit card payments. The phones start at $199 with a two-year service contact.
WASHINGTON (AP) -- Charles Plosser, a leading inflation "hawk" at the Federal Reserve, says he will retire in March.
Plosser, who has been president of the Fed's Philadelphia regional bank since August 2006, has been among the leaders of the officials known as hawks for their concerns that a continuation of low-interest rate policies could ignite inflation.
He has dissented at the past two Fed meetings, when the central bank voted to maintain its plan to keep a key short-term rate at a record low for a "considerable time."
Plosser, 66, would have given up his vote on the Fed's policymaking committee next year as part of the normal rotation of votes among the regional bank presidents. And the rules governing the Fed's 12 regional banks would have required his retirement in 2016.
GENERAL MOTORS-IGNITION SWITCH DEATHS
DETROIT (AP) -- The death toll from crashes involving General Motors small cars with faulty ignition switches has risen to at least 21.
Compensation expert Kenneth Feinberg says in an Internet posting he received 143 death claims as of Friday. He has determined that 21 are eligible for compensation so far. Last week 19 death claims were deemed eligible for payments.
Feinberg also has received 532 injury claims. Of those, 16 are eligible for compensation thus far. The rest are still being reviewed.
GM has admitted knowing about the ignition switch problem in small cars like the Chevrolet Cobalt for more than a decade. Yet it didn't begin recalling the cars until February.
The switches can unexpectedly shut off the engine and cause crashes.
GM hired Feinberg to compensate crash victims.
PARIS (AP) -- Air France pilots are rejecting the company's offer to delay the expansion of its low-cost carrier, Transavia, after a seven-day strike that the airline says is costing it up to 20 million euros ($25 million) a day.
Pilots unions went on strike last week after Air France-KLM announced plans to save 1 billion euros ($1.3 billion) over several years in part by transferring European operations to Transavia. The company, which is cutting costs to try to stay competitive with budget airlines, says talks are deadlocked. About half the airlines' flights have been cancelled since the strike began.
The main pilots' union, SNPL, says Monday's offer to delay the expansion until December is a smokescreen, accusing the airline of trying to outsource jobs to countries with lower taxes and cheaper labor.
OAKLAND, Calif. (AP) -- Clorox is shutting down its operations in Venezuela, citing restrictions by the government, supply disruptions and economic uncertainty.
Shares jumped 3 percent before the opening bell Monday.
The U.S. consumer products company said that for almost three years it has had to sell more than two-thirds of its products at prices frozen by the Venezuelan government. Over that same time span, there has been a sharp rise in inflation that resulted in significantly higher costs for Clorox. The company says it's selling products at a loss in the country.
The Clorox Co. met repeatedly met with government authorities and said it had expected significant price hikes. However, the increases that were approved were "nowhere near sufficient" and it said the company would be forced to continue operating at a loss.
The Good LifeCelebrating the events, adventures and activities that represent "The Good Life" in the NewsChannel 9 viewing area.
SideroadsTake a ride with Brian Smith to explore the unique people and places to be found along the Sideroads of the NewsChannel 9 viewing area.
Road TrippinCome Road Trippin' with us and see all the great sites in your area!
Closings and DelaysThese are the latest School and Business Closings reported to NewsChannel 9. If you see errors or need to add a school or business, call 423-757-7320.
This N ThatLearn about the latest in community affairs and great events with Brian Smith on This 'N That.
Educator of the WeekNominate now for Educator Of The Week!
Deaf & Hard of HearingInformation provided to NewsChannel 9 by members of the Deaf and Hard of Hearing Community.
Sponsored EventsCheck Back Often for NewsChannel9 Sponsored Events!