Chattanooga Industrial Development Board approves $70K for competitive analysis study

Chattanooga's Industrial Development Board has taken significant steps to enhance the city's economic landscape during its recent meeting on June 2, 2025. The board approved a $9,375 payment to support AIS, a company that has exceeded its job creation and capital investment commitments for 2024. AIS has successfully created 18 new jobs with an average wage of $59,836 and completed over $2 million in capital investments. This funding marks the first of five payments, with future payments expected to streamline the process by allowing staff to confirm job creation and report back to the board without needing to seek approval each time.

In addition to supporting AIS, the board discussed a resolution to allocate up to $70,000 for a competitive analysis of Chattanooga's key traded industry sectors. This initiative, backed by the Chattanooga Chamber of Commerce, aims to identify the city’s competitive advantages and gaps in attracting businesses. The study will involve collaboration with Hamilton County and is expected to take six to eight months to complete. The findings will help refine the city’s economic development strategies and enhance its appeal to potential investors.

The board's actions reflect a proactive approach to economic development in Chattanooga, particularly as industrial space becomes increasingly limited. By focusing on smaller companies with higher wages, the city aims to adapt to changing economic conditions while fostering job growth and capital investment. The collaborative efforts with local chambers and government bodies underscore a commitment to building a robust regional economy that can compete effectively in the marketplace.