Economic Development Report 2016

GERMANTOWN, TENNESSEE

DO BUSINESS LIKE NOBODY’S BUSINESS.

––––––––––– GERMANTOWN, TENNESSEE

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GERMANTOWN, TENNESSEE

FROM THE MAYOR

Dear friends, Thank you for considering the City of Germantown for your business.

Whether you’re relocating or expanding, whether you’re a start-up or a Fortune 500 company, we welcome you.

Germantown is an ideal place for growth. We have a thriving business climate. A supportive government. Extraordinary quality of life. And we’re proud to be one of the top three safest cities in Tennessee, year after year.

You’ll find plenty of facts and statistics in this book that confirm all these points. But as you continue to research and explore the City, and spend time here, you won’t need proof that our City is exceptional. You’ll experience it firsthand.

Welcome to Germantown. Here’s to your success.

MAYOR MIKE PALAZZOLO

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GERMANTOWN, TENNESSEE

YOU’RE READY TO GROW. Why should you do it in Germantown? Because it’s the ideal environment for your business to thrive. Because the City will support you. And because, honestly? Germantown’s just a great place to live. So, let’s get down to business.

OUR

5 DISTRICTS

WEST POPLAR AVENUE DISTRICT

WOLF RIVER DISTRICT

CENTRAL BUSINESS DISTRICT

• Located on the Poplar corridor, a major arterial to Memphis • $90 million TraVure development — Class A office space, retail and a Hilton hotel • Home of the small business incubator and coworking space, EPIcenter Germantown • SmartCode zoned

• Germantown’s medical corridor • Campbell Clinic, Baptist Rehabilitation Hospital, West Cancer Center, Sutherland Cardiology, Charles Retina Institute and more • Borders the Wolf River Greenway, part of the City’s 22-mile trail system

• Apple, Whole Foods, Anthropologie, Trader Joe’s, West Fraser corporate headquarters, Methodist LeBonheur Hospital and Germantown Performing Arts Center • $150 million Thornwood mixed-use development • SmartCode zoned

Wolf River District

West Poplar Avenue District

Central Business District

Districts

East Poplar Avenue District

Parks

EAST POPLAR AVENUE DISTRICT

FOREST HILL HEIGHTS DISTRICT

• Includes the wealthiest zip code in Tennessee • Target and Sprouts Farmer’s Market • StoneCrest Investments and Boyle Investment Company properties

• FedEx, ThyssenKrupp Elevator Manufacturing and CTI (Crew Training International) • Includes some of the largest undeveloped land parcels in the City • SmartCode zoned

Forest Hill Heights District

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GERMANTOWN BUSINESS CLIMATE

SUCCEED IN A PROSPEROUS BUSINESS CLIMATE. Global corporations. Luxury retailers. Boutique shops. Leading edge healthcare. Acclaimed restaurants. They all flourish here.

So no matter who you are or what you do, you’ll be in good company.

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WE’RE

#

• Advanced Industry Job Growth1 • State of the Year for Economic Development2 • Overall Infrastructure and Global Access3 • Distribution and Supply Chain Hubs3 • Logistics Leaders (Air Cargo)4 • Foreign Direct Investment Job Commitments5 • Commercial and industrial wastewater bills6

RELAX. YOUR INVESTMENTS ARE SAFE HERE. AAA BOND RATED • Standard & Poor’s • Moody’s

QUALITY CONTROLLED SAFETY PRIORITIZED • Full time police force • Material and • Full time fire design standards department • Comprehensive planning

FLEXIBILITY, FAST-TRACKED. Our SmartCode zoning for mixeduse developments opens up endless possibilities for land use. And developments in SmartCode districts enjoy a streamlined approval process.

ACCESSIBILITY. NASHVILLE

➔

Downtown Memphis: 21 MILES

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Memphis International Airport: 13 MILES

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Arkansas: 22 MILES

Mississippi: 3 MILES

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Interstate 240: 1.5 MILES

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State Route 385: 0.5 MILES

Tennessee. The Brookings Institution, 2016.

Tennessee. Southern Business and Development magazine, 2016.

3 Tennessee. Area Development magazine, 2014.

4 Memphis. Business Facilities magazine, 2014.

5 Tennessee. IBM Institute for Business Value Global Location Trends report, 2016.

6 Memphis. Memphis Light, Gas and Water, 2016.

7 Germantown. WalletHub, 2016.

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TENNESSEE ARKANSAS GERMANTOWN

MEMPHIS

MISSISSIPPI

EDUCATED, MOTIVATED, SOPHISTICATED.

BUSINESS IS BOOMING.

98% 65%

FY16

GERMANTOWN BUSINESS CLIMATE

of residents 25+ have high school diplomas.

have college degrees.

TOP 3%

for personal money management skills.7

$14 MILLION+ in new commercial permit values $15 MILLION+ in commercial renovation permit values INCREASES IN FY16 OVER FY15

39%

in business licenses

10%

in retail sales tax

3%

in employment

LOGISTICALLY SPEAKING… • Memphis International Airport is the second-busiest cargo airport in the world.

• The International Port of Memphis: - second-busiest port on the Mississippi River - fourth-busiest inland port in the U.S. - largest stillwater harbor on the Mississippi River - ice-free year-round • Third largest rail center in the U.S.

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GERMANTOWN GOVERNMENT

WORK WITH A GOVERNMENT THAT’S HEALTHY — AND HELPFUL. Here’s a game-changer: Germantown is all about clear-cut, straight-forward processes. Easy-to-access information. And people and processes that help you succeed. Isn’t it nice to see a business-friendly face?

OUR ECONOMIC DEVELOPMENT STRATEGIC PLAN. We’re unrelenting when it comes to planning for long-term economic success. Here are our five guiding principles:

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MONITOR SUCCESS WITH CONTINUED AND EXPANDED MEASURES OF PERFORMANCE. We believe in continuous improvement. That means constantly taking our City’s economic pulse. Tracking progress. Abiding by our business plan. And thinking ahead.

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REPOSITION GERMANTOWN WITHIN THE REGIONAL ECONOMY. The word is out: we have a lot to offer. High quality of life, an educated workforce and state-of-the-art healthcare to name a few. These assets are attracting new businesses like yours, making our City healthier — literally and figuratively.

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CREATE AN ENABLING ENVIRONMENT. We give your business clear processes.

So you can start, locate and grow in an environment of certainty and predictability.

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GUIDING PRINCIPLES FOR ECONOMIC SUCCESS IN GERMANTOWN

2 LEVERAGE ASSETS TO ATTRACT NEW INVESTMENT. We’ve invested in infrastructure, amenities and City facilities to clear the way for you to set up — and succeed — here.

3 BUILD VALUE FROM WITHIN. Our existing businesses are some of our most valuable assets. So once you’re here, we’ll support you with infrastructure, assistance, processes and guidelines that keep you strong.

GERMANTOWN GOVERNMENT

HOW WE WORK.

TENNESSEE FAST FACTS:

Our Board of Mayor and Aldermen (BMA) sets City policies.

• • • • •

20+ resident-led boards and commissions advise the BMA on everything from public safety to neighborhood preservation.

The Economic Development Commission • Reports on the economic life of Germantown • Advises on long-term planning and City development • Promotes economic stability, vigor and balance • Encourages business retention and productivity

A right-to-work state AAA bond rated No personal income tax on wages or salaries Low state and local taxes paid per capita Low state debt per capita

ALL YOUR RESOURCES IN ONE PLACE. Need to know where to go to register your business? Get a certificate of occupancy?

Or find out about regulations for signage or renovations?

We’re West Tennessee’s only

TVA PLATINUM SUSTAINABLE COMMUNITY. We’re striving for • a healthy environment • a thriving community • long-term economic prosperity

Go to GermantownEDP.com/Resources for all that and more.

PILOT and TIF programs available for qualifying businesses.

STAY IN THE LOOP. Get up-to-speed on economic development, and find resources for expanding or attracting new business at GermantownEDP.com.

And connect with us on social media. @GtownTNED facebook.com/CityofGermantown germantowntenn 5

GERMANTOWN QUALITY OF LIFE

ENJOY EXCEPTIONAL QUALITY OF LIFE. Want an energized, productive workforce? It starts outside the workplace. With miles of biking and running trails. City parks for days. Access to the arts, public festivals and excellent healthcare. And safety and security. Guess what? You’ll find all that and more, right here.

GO OUT AND PLAY.

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COMMUNITY PARKS

MILES

covering 700 acres

of paved running and biking paths

30

10

+

FREE COMMUNITY EVENTS A YEAR

3,000+ residents involved in

COMMUNITY LEAGUE SPORTS

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22+

ACRE COMMUNITY GARDEN producing 13,000 pounds of produce a year

MEET THE NEIGHBORS. 40,123 residents $154,355 average household income $281,300 median home value 78.2% family households $20 million new residential permit values in FY16

GERMANTOWN QUALITY OF LIFE

YOU’VE GOT EDUCATIONAL OPTIONS.

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ELEMENTARY SCHOOLS

HIGH SCHOOLS

NEARBY COLLEGES AND UNIVERSITIES

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MIDDLE SCHOOLS

PRIVATE SCHOOLS

including Union University in Germantown

SAFE AND SOUND.

3 6

Police response in Fire response in

minutes or less

SAFEST CITIES IN TENNESSEE, YEAR AFTER YEAR

minutes or less

Ambulance response in

200

TOP 3

7

minutes or less

full-time police officers, fire-fighters and dispatchers

GERMANTOWN FORWARD 2030.

A+ SCHOOLS. Houston High • Top 5% of the most academically challenging schools in the U.S. by Newsweek.

• One of America’s Best High Schools by the Washington Post.

• Germantown Municipal School District had the highest ACT composite in Tennessee.8 8

Tennessee Department of Education.

When it comes to planning for the future, we mean business. Recently, 30 residents partnered with City leadership and local experts. They spent a year planning for a sustainable social, environmental and economic future for Germantown. Want the details? Visit Germantown-TN.gov/2030.

GET A SNEAK PEAK. Learn more about what life in Germantown is like. Go to Germantown-TN.gov/LifeandStories.

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GERMANTOWN, TENNESSEE

CONVINCED? We hope so. Call us. Send us an email. Or just drop by.

Let’s take care of business.

__________________

Marie Lisco, RLA, TCEcD Economic Development Manager 901.751.7637 mlisco@Germantown-TN.gov 1920 S. Germantown Road Germantown, TN 38138 GermantownEDP.com

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GERMANTOWN, TENNESSEE

OUR PARTNERS

ECONOMIC DEVELOPMENT

GROWTH ENGINE FOR MEMPHIS & SHELBY COUNTY

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GERMANTOWN, TENNESSEE

GERMANTOWN DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT 1920 S. GERMANTOWN ROAD | GERMANTOWN, TN 38138 901.757.7281 | GERMANTOWNEDP.COM ©2016 GERMANTOWN DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT. ALL RIGHTS RESERVED.

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