Chattanooga IDB reviews pilot policy overhaul, fund balances and program priorities

Charita Allen, senior advisor for Economic and Workforce Development, and Adam Myers, vice president for economic development at the Chattanooga Area Chamber, briefed the Chattanooga Industrial Development Board on a rewrite of the city’s economic-development pilot policies and on how the board’s fee-funded programs are currently resourced.

The presentation laid out why the pilot policy update matters: the city wants a clearer, more predictable process for pilots, stronger reporting and monitoring, and a matrix to score projects on jobs, wages, capital investment and community benefits, Allen and Myers said.

The chair opened the session by noting the briefing would recap work from prior meetings. Allen said the Industrial Development Board (IDB) derives authorities from state law and uses a mix of city-appropriated funds and pilot-related economic-development fees to support programs. “The IDB has the authority to decide how it wants to spend those funds,” Allen said, describing a set of accounts the board controls for small-business grants, innovation grants, tech workforce programs and other initiatives.

Myers said the Chamber’s draft policy codifies several longstanding practices and sets new minimums and evaluation criteria. “We want to be a steward here of public resources while also creating a very clear and predictable process,” Myers said. The policy package being taken to the City…