Chattanooga approves $22K innovation grant to Innersign Corporation for job creation

During a recent meeting of the Chattanooga City Industrial Development Board, members confronted the challenges posed by tough economic times and the need for strategic financial decisions. The discussion highlighted the importance of utilizing unspent funds currently held in reserve, with a focus on a significant project that could benefit the community.

One board member expressed concerns about the allocation of approximately half of the available funds for a project that has seen extensive planning and community involvement. This project aims to address various local issues, including substance use disorders, through the resources available at the American Job Center. The member indicated a willingness to support the project, emphasizing the necessity of making decisions about the funds that have remained idle for an extended period.

In addition to the primary discussion on fund allocation, the board reviewed an innovation grant request. A resolution was proposed to authorize a payment of $22,000 to Innersign Corporation. This grant is intended to support the creation of 22 new jobs over the past 18 months, as verified by the Tennessee Department of Labor. The funding will also facilitate the implementation of innovative equipment systems, aligning with the city’s goals to diversify its economy and promote local innovation.

The meeting underscored the board's commitment to addressing economic challenges while fostering job creation and innovation in Chattanooga. As discussions continue, the board will need to navigate the complexities of funding allocation and community needs, with the next meeting anticipated to further explore these critical issues.