Innovation Valley

Companies consider a variety of things when they are deciding where to relocate or expand their business. As companies begin moving towards sustainable futures they are starting to consider the sustainability of the potential area as a serious criteria.  In fact, according to recent surveys 92% of business location decisions involve sustainability factors. In order to help market Knoxville and the surrounding area as a sustainable area a group called Knoxville-Oak Ridge Innovation Valley has been formed. This group consists of six partner groups including Blount County Chamber of Commerce, Knoxville Chamber, Loudon County Economic Development Agency, Oak Ridge Economic Partnership, The Roane Alliance, and Tellico Reservoir Development Agency. This group has an annual budget of $1,643,936 coming from a combination of public funding and private investments.  The majority of this money is spent on education and workforce development, technology and entrepreneurship, global marketing, and business retention and expansion. Innovation Valley, in tandem with other organizations, has already made Knoxville significantly more sustainable and has many projects under way. Some of these completed and under way projects include massively installing solar panels as part of Knoxville’s participation as a Department of Energy Solar American City, electric vehicle charging stations, City of Knoxville facility energy audits, solar farms, wind turbine test facility in Oak Ridge, and an ever expanding Greenway system. The great strides recently made by Knoxville are starting be noticed in the national scene. Recent accolades include Knoxville being named 9th best city for jobs by Forbes Magazine and being named the #1 region in Green Job Growth by the Brookings Institute.