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July 10, 2005
Chattanooga Cheap~the GOOD, the BAD, the NEW
[Pardon me, boy. Isn't that the Walking Bridge you're riding on?]
The GOOD News
If you're a business person, as I have been off and on over the years as a marketing consultant to small businesses, you have to be excited by the news that Chattanooga was picked by fDi (ForeignDirectInvestment) as the Most Cost Effective city in the United States (fDi article is here). And why?
Obviously, the city is a remade paradise for recreation seekers with the Waterfront, the Riverwalk, and the North Shore--much of it available all day for residents and visitors. Not bad for public property. But fDi was thinking of some other indicators, namely that Chattanooga office and industrial space is cheap to lease. And for a tri-state metro area of almost a half-million people, property prices have to be some of the best in the Southeast. The salaries are lower than national averages, good if you're an employer. And, yes, our cost-of-living is lower too (see my Boom & Bust Economies piece). We receive high marks because of our low labor turnover as well as good marks for providing employers with "dedicated" workers.
Still, we have to stop and ask: Are we capturing new businesses and industries? And if not, why? And what can be done about it?
CLICK TO READ ABOUT THE BAD NEWS & THE NEW NEWS
Posted by wjbailes at July 10, 2005 09:46 PM
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