Vision 2020
Overview
Bartlett is the 10th largest city in Tennessee and serves as the hub for a market of over 250,000 residents within the Memphis Metropolitan Area. The area consists of a strong and diversified business community and workforce. The Bartlett Area Chamber of Commerce’s (BACC) strategy is to define the economic strengths of the community and develop and implement a cohesive long term plan of action resulting in sustainable capital investments and job growth.
In 2007 the Bartlett Area Chamber created a Public/Private partnership to embark on a three year economic development initiative (Phase I) aimed at: identifying stakeholders, securing initial funding, hiring a full-time Economic Development professional, assessing the area’s strengths and the development of a conceptual plan. With impressive results Phase I was completed in June 2010. Upon completion, the BACC Board of Directors and Strategic Partners have unanimously approved moving forward to Phase II.
Phase II of the Bartlett Area Chamber’s economic development initiative, was launched in July of 2010 as “Vision 20/20 A Clear Vision for the Future.” This program is the first comprehensive economic development strategy to encompass Bartlett and the Northeast Corridor of Shelby County. It targets specific industries, includes a detailed course of action and provides an outline of goals & objectives. Four target growth industries have been identified as major focal points of the initiative. The long term plan will also address other major topics such as Workforce Development, Office/Industrial Park Development, Existing Business and Retention, Community Development and Revitalization. The four focus industries are:
Focus Industries
Life Science Industry
Establish the Bartlett Area as a magnet for Life Science companies building upon the cluster of companies already existing within the area.
Agribusiness Industry
Establish the Bartlett Area as an anchor for agribusiness companies. Build upon the strong concentration that currently exists.
Growth Industries
Highlight the growth-mode industries within the Bartlett Area and the business friendly environment that makes doing business so attractive.
Retail and Tourism
Promote the Bartlett area as a viable market for retail and commercial entities and to improve the viability of existing retail, hospitality and tourism investment.
Vision 20/20 Phase II - Ten Year Performance Goals
$2 Billion New Capital Investments
10,000 New Jobs / 10,000 Indirect Jobs
60 Life Science Companies
30 Agribusiness Companies
30% Population Growth
$2.5 Billion Total New Income
Median Household Income 150% of national median
Public / Private Funding
Investments from the public and private sectors play a crucial roll in the success of Vision 20/20. The BACC and its Strategic Partners will continue to solicit financial support from area businesses and individuals who have the most direct benefit from Economic Development in the Bartlett Area.
The funding for Vision 20/20 is structured into three investment categories identified below: Investments can be made either to the Bartlett Area Chamber of Commerce a Non Profit 501(C)6 or the Bartlett Chamber Foundation a Community focused charitable 501(C)3 organization.
Strategic Partners
Strategic Leaders
This investment level represents the premier group of public / private partners that are the decision makers on the direction and scope of the Vision 20/20 Initiative. This influential body understands the importance of long term economic development strategy and the impact that a successful program will have on the community.
The Strategic Leaders serve as the Vision 20/20 Executive Committee and meet regularly to discuss the development and implementation of Vision 20/20 and to approve major expenditures. This group will establish the policies and guidelines to be used throughout the Ten Year initiative. A majority vote will be required on major expenditures as determined by policy. Only Strategic Leaders have voting privileges.
Tactical Advisors
Tactical Advisors play an important role by serving in an advisory capacity to the Executive Committee. Their knowledge and expertise assists the Leadership in making informed decisions regarding economic development. Tactical Advisors may be asked to attend certain meetings of the Leadership when appropriate.
Economic Investors
Economic Investors understand and appreciate the importance of a strong economic development program. Their investment in Vision 20/20 is a commitment to the community as well as to the future of their business. Economic Investors know that as the community prospers so, too, do they. Economic Investors may be asked for their professional input by serving in focus groups that relate directly to Vision 20/20 initiatives.
