The former VAAP Site - renamed Enterprise South Industrial Park - will be one of the nation's premier industrial sites, officials said at a public meeting at the Chattanooga Theatre Center on Thursday afternoon.
"When completed, we will have one of the best sites in the whole country," said Gov. Don Sundquist, who took part in the event along with state Economic Development Commissioner Tony Grande.
County Executive Claude Ramsey said 100 acres of the site bordering Bonny Oaks Drive are currently for sale.
He and Mayor Bob Corker said work will begin within 60-90 days on building a landscaped entryway and entrance road.
Bunkers that were part of the site that was formerly a government munitions plant will be leveled, and a new wastewater system will be installed.
Officials said $9 million to $11 million will be spent readying the Enterprise South Industrial Park. They said there should be a payoff of as much as $15 million a year in tax revenue for the city and county when it is fully developed.
The site could bring up to 8,000 jobs and $240 million in payroll, officials said.
"Enterprise South, as the site is now called, has the potential to be one of the greatest economic development opportunities in Chattanooga's recent history," said Mayor Corker. "The planning process was designed to ensure that the industrial park will attract the largest number of high paying jobs and have the greatest economic impact possible after it is fully developed. We believe that based on the strategy outlined today, Enterprise South is well positioned to produce tremendous dividends for our community."
Chattanooga and Hamilton County recently engaged Fluor Corporation’s Global Location Strategies Group to consult on industries ideal for Enterprise South Industrial Park. Building on Fluor’s recommendation, area leaders have developed a strategic marketing plan that will target industries such as medical equipment and supplies, commercial and service industry machinery, and automotive parts. Fluor’s research indicates that by recruiting these industry segments the city can attract manufacturing companies that will provide the most jobs per acre of development.
“Enterprise South’s proximity to key interstate transportation routes and Chattanooga’s urban amenities are attractive to these industry segments,” said Mr. Ramsey. “Our reputation for a highly-skilled industrial workforce and longstanding history of manufacturing makes our area even more attractive to prospective business.”
A full-scale national recruitment effort has been launched in conjunction with the Chattanooga Area Chamber of Commerce. Newly appointed Chief Economic Development Officer Jay Garner will focus on attracting targeted new industries while helping existing businesses grow. Site marketing will begin immediately; the marketing plan includes an advertising, marketing, and public relations campaign, which will focus on site selectors and specific industries.
"Building upon and promoting existing resources is key to economic development," said Gov. Sundquist. "Through preparation and planning for the Enterprise South Industrial Park, city, county and state leaders are laying the groundwork to ensure this region's future economic success."
Site planning consultants Barge Waggoner Sumner & Cannon have mapped out plans that allow for a potential 524-acre “mega-site” parcel for a single, large manufacturer and up to 15 parcels for smaller manufacturers or area businesses seeking to expand their operations. With the site’s master plan complete, engineering drawings are now underway for roads, utilities and other infrastructure. Hamilton County and the City of Chattanooga, supported by state and federal governments, will make the initial investment of up to $11 million to prepare the site for occupancy.
"Enterprise South offers this region and the state a tremendous economic development opportunity," said Commissioner Grande. "We are excited about the work being done at this site and will continue to coordinate with local officials to aggressively market the area."
According to Enterprise South Project Manager Rob Taylor, initial bid packages for site preparation will be issued within 60 days and work should begin late spring.