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MEMPHIS MARKET
Economy & Demographics... A Metro Profile
The commercial real estate market has been booming in
recent years due to a strong economy and healthy
population growth. Memphis offers an unmatched list of
advantages that businesses can employ to become
leaders in global commerce. Superior logistic and
intermodal transportation capabilities have positioned
Memphis to become truly America's distribution center.
Memphis is also at the forefront of electronic commerce
due to significant investments in telecommunications
infrastructure by virtually all of the top service providers.
This is coupled with a diverse workforce, prepared by
nationally recognized schools and training programs, to
help ensure Memphis' competitive edge in the future.
Factors ranging from world-renowned, affordable health
care to a mild climate, contribute to the exceptional
livability of the city. In education, entertainment,
housing and recreation, Memphis provides choices to
fulfill any lifestyle.
Quality of Life
Memphis has its share of parks, museums, music, and
theater; but given its size, people are usually surprised
that such amenities are better represented in Memphis
than in many other cities. Memphis is a city of green
trees and open, grassy playgrounds. Overton Park,
located in the center of town, is one of the largest urban
parks in the country. It's also home to the Memphis
Zoological Gardens and Aquarium, the Memphis College
of Art, Memphis Brooks Museum of Art, and the Overton
Park Shell. The city also boasts a number of other tourist
attractions, including Elvis Presley's Graceland, Beale
Street (Home of the Blues), Mud Island, the National
Civil Rights Museum, the Pink Palace Museum, the
National Ornamental Metal Museum, the Lichterman
Nature Center, and The Peabody - the South's grand
hotel.
Memphis 2005
Memphis took control of its destiny with the formation of
an historical partnership between the highest elected
officials of Memphis and Shelby County and Memphis'
most prominent business and community leaders. What
began as an effort to move Memphis forward into the
21st Century lead to the City's largest and most
ambitious comprehensive, community-wide plan in its
history - Memphis 2005.
In an unprecedented effort, hundreds of citizens were
interviewed, surveyed and brought to the table to
discuss what it would take to make Memphis and its
surrounding area a viable contender in the emerging
world economy. The men and women who joined forces
not only looked at what Memphis was doing right, they
took a hard look at what was holding the City back.
Never before had so many people representing business
and industry met with public officials and administrators
to design goals and objectives to reduce school dropout
rates and crime in neighborhoods, while at the same time
designing economic outcomes that would advance the
City and its people.
These early planners, working with mountains of data
and information, began to see the important correlation
between safe neighborhoods and capital investments.
They recognized the vital link between a successful
school system and an educated workforce. And, they
began to see the relationships between income growth
and minority business development. After months of
analysis, it became crystal clear that to achieve true and
lasting economic growth and prosperity for Memphis,
there needed to be a strategic plan developed that was
holistic in its vision and totally inclusive in its
implementation - Memphis 2005.*
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