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The 21st Century
The Memphis region has a rich and colorful history. However, the greatest period for Memphis may lie in its future. Forces of global change have created opportunities and opened the door for Memphis to become a key global center in the 21st century. While historic changes create opportunities, it is people with the knowledge, the will, and the ambition to answer the challenges and seize the opportunities that build the great metropolises of the world.
Mission:
To firmly establish the Memphis Region as a dynamic, growing, energetic metropolitan region that is strongly connected to the global economy.
The Memphis region is one competitive unit
The region's role in the national and global economy has
depended on Memphis' ability to provide the connections vital
to maintaining trade flows and passenger traffic across the
Mississippi River. The Memphis region's strong transportation,
logistics and communications infrastructure provides the
access and doorway to the global economy. Within the super
region, Memphis has the largest concentration of
transportation facilities of any region in the super region.
Two distinct, but functionally connected and interactive parts form the two million-person Memphis region. The metropolitan, or metro area, is the intensely urbanized, three-state, multi-city core of the region with a population of one million people. An additional one million people reside within the region in a pattern of cities surrounding the metro. The metro area and surrounding region are linked by economic, social, cultural and service relationships. The Memphis region is a competitive market area in the national and the new global economy. Within this area, each city, county, and state is a functional component and plays an important role in strengthening the competitive nature of the region.
The Memphis Region: An emerging global hub
The Memphis region is a significant hub because of its important role in the global distribution and logistics network. This hub creates the platform for the region to access the global marketplace. The demands of a new global age will require the region to significantly strengthen the existing platform to gain global market access.
Linking the Memphis region to the continental grid
Historically, Memphis' has served as a transcontinental hub in the U.S. transportation network. The North America Free Trade Agreement (NAFTA) treaties have resulted in the economic integration of North America. A new vertical NAFTA Corridor will soon cross the traditional east-west connection at Memphis. Strengthening the pattern of linkage has been, and will continue to be, vital to insure the region's continued economic success.
Building the resources necessary to compete in the new economy
Globalization has resulted in a new wave of economic activity described as the new economy. This economy is knowledge-based and highly dependent on a skilled workforce, major research institutions, higher education, and medical schools. Only top-level institutions with quality resources can provide the foundation necessary for the region to compete effectively in the new economy.
Enhancing the quality of life in the region
The competition for people and a skilled workforce is vital for business growth. Quality of life within the region is critical in attracting and retaining a strong workforce, as well as new business. The region's enviable location along the Mississippi River and its world-renowned music and arts create the framework for its fine quality of life.
Building a positive mindset about the region
Memphis has the opportunity because of its location and resources to emerge as an important global center. However, great regions are not built on opportunity alone; success requires people who recognize the potential and who have the will and desire to capitalize on their assets to build a cooperative, competitive regional unit. Today, there is an imperative need for a new and positive way of thinking about the region and its future.
A strategic future
Globally competitive regions cannot emerge on an ad hoc basis; they must be constructed through the coordinated involvement of the public, private, and institutional sectors. The future of Memphis requires strategic coordination across the three-state region of Tennessee, Mississippi and Arkansas.
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