Annual Meeting: Chamber Celebrates Year of Extraordinary Economic Development Growth

The mood at Chamber’s Annual Meeting for 2008 was extraordinarily festive as the business organization celebrated Volkswagen’s decision to locate here, expansions by existing businesses and accomplishments of Chamber councils, volunteers and staff.

We have much to celebrate today," Chamber President and CEO Tom Edd Wilson told the Convention Center audience.

"Even as Volkswagen is preparing its site at Enterprise South, Unum has announced a $20-plus million investment, BlueCross BlueShield’s new headquarters has entered the final phase of construction, Memorial is planning a $300 million expansion that will add hundreds of healthcare jobs and Alstom is transforming the western part of our downtown riverfront with a $300 million project that helps re-establish Chattanooga as a hub of the power generation industry. I can’t remember a time when our prospects were as bright."

The luncheon, which drew almost 900 attendees, featured a keynote address by Dr. Thom Mason, director of the Oak Ridge National Laboratory, where studies will help meet the energy challenge by developing a range of technologies, from lighter cars that get 100 mpg to a new generation of nuclear reactors that will allow for the recycling of spent nuclear fuel instead of storing it for thousands of years.

Mason said for the U.S. to stay competitive in the global economy it must create high-paying, high-quality jobs and develop clean, affordable and reliable energy resources. He urged members of the audience to "stay sharp and keep pushing" to meet those challenges.



During the meeting outgoing Chamber board chair Nick Decosimo, managing partner of Decosimo & Company, turned the gavel over to Tom Griscom, incoming chair and Chattanooga Times Free Press publisher and executive editor.

Decosimo pointed out that the Chamber enjoys a membership of 1,600 businesses of all sizes and that member retention is at 85 percent, the highest in recent memory. He praised the work of the Chamber’s 11 councils that serve the business interests of their neighborhoods and collectively contributed over $100,000 to local schools and community programs during the past year.

Decosimo applauded the Chamber’s dedication to existing industry and business recruitment. "That dedication is paying off as companies announce new jobs and investment," he said. "During the past year the Chamber directly assisted 10 companies (not including Volkswagen) announce $335 million in investment, 704 new jobs and 300 saved jobs."

Griscom praised Chattanooga for developing an economic development strategy with the Chamber as the lead agency in job growth efforts. He said he is eager to expand the Chamber’s burgeoning roles in public education and the regional economy during his tenure as board chair.

The celebration included recognition of Perry Betts of www.TravelTrendsLive.com as Chamber Ambassador of the Year and the North Chattanooga Council as the first recipient of the Chamber Council of the Year Award.