Greater Memphis Chamber

Tennessee General Assembly closes special session on COVID-19 issues

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Nov. 1, 2021 — The Tennessee General Assembly on Oct. 27 gaveled in its special session to discuss COVID-19 related topics. The session started with 82 House bills and 86 Senate bills, but House and Senate leadership pieced together the different bills to make an omnibus bill — HB9077/SB9014.

After an intense three days, the House and Senate adjourned at approximately 1:38 a.m. Saturday morning having passed wide-ranging COVID-related legislation.

Although publicly opposed by the Greater Memphis Chamber, the Tennessee Chamber, NFIB, and almost 30 other business trade associations, HB9077/SB9014 is headed to Gov. Bill Lee for his consideration. Gov. Lee recently noted he is “evaluating each piece of legislation to ensure we push back on harmful federal policies and do right by Tennesseans.”

A number of trade associations and businesses have openly expressed frustration with how rushed and lacking in transparency the amendment review process was ahead of committee votes. Additionally, House and Senate committees did not allow testimony from either supporters or opponents.

SUMMARY OF HB9077/SB9014

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Prospero more than doubles job commitment in major Memphis expansion

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Memphis, Tenn. (Tuesday, Oct. 26, 2021) – Prospero Health, a physician-led home-based medical care company, announced today from its new downtown Memphis location that it will create 530 jobs in Shelby County over the next five years, an expansion of its 2019 commitment of adding 249 jobs over five years. Michael Scarbrough, Prospero’s co-Founder, President, and Chief Operating Officer, made the announcement in conjunction with the Downtown Memphis Commission, the Greater Memphis Chamber, the City of Memphis, Shelby County and the State of Tennessee. 

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New ‘Memphis Moves’ campaign to promote region to the world

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MEMPHIS, Tenn. (Wednesday, Oct. 13, 2021) – The Greater Memphis Chamber’s Center for Economic Competitiveness today launches its first initiative, Memphis Moves, at the Autonomous Robots and Logistics Conference at the Renasant Convention Center in Memphis. The national marketing campaign will highlight some of the many reasons companies are choosing to join the regional movement that is Memphis — including that the region is No. 1 for diversity in its growing technology workforce. 

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Ted Townsend completes transition to Chamber

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MEMPHIS, Tenn. (Oct. 1, 2021) – Ted Townsend today officially completes his transition into the role of chief economic development officer of the Greater Memphis Chamber, allowing him to continue and expand on the major economic victories the Chamber has scored for the region over the past year. 

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Greater Memphis Chamber launches Center for Economic Competitiveness

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MEMPHIS, Tenn. (Sept. 30, 2021) – The Greater Memphis Chamber today launched the Center for Economic Competitiveness, a new initiative aimed at bringing its vision of “prosperity for all” to life. 

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HopeWorks awarded Chamber Quality Cup Award

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Hopeworks , an organization that helps people in Memphis and the Mid-South find meaningful employment through Adult Education, Employment Services, and holistic Reentry was awarded the 2020 Chamber Quality Cup Award during their 30th Anniversary Open House that took place at their new 3337 Summer Avenue location in Memphis on August 2, 2021.  The Award was given a year later based on the Chamber site headquarters in downtown Memphis, that historically hosted the Chamber Quality Cup Award Ceremony, being closed during the Covid-19 Pandemic.  The Award is traditionally given by both the College and Chamber President’s, but neither were available to present the Award at the Hopeworks Open House due to scheduling conflicts.  Dr. Donald Fisher, Executive Director of the Mid-South Quality/Productivity Center, which is a Partnership between the College and the Chamber, presented the Award to Hopeworks.

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Paragon Bank invests to increase local homeownership

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At Paragon, we talk a lot about community. We know customers enjoy the level of technology and services offered by megabanks while also seeking the kind of care and respect they receive from friends and neighbors.

In the tradition of neighbors helping neighbors, we invest in the communities we serve. And one way we do this is through Paragon’s Mortgage Access Program. We want the dream of homeownership to become a reality for as many Memphis and Shelby County residents as possible. We believe homeownership promotes wealth while helping to lift residents out of poverty and strengthen our neighborhoods.

Paragon’s Mortgage Access Program was created for first-time homebuyers who are looking to purchase a primary residence. We provide up to a 103 percent loan value — meaning we’ll give participants 100 percent financing for their homes, plus an additional three percent to pay for closing costs. Paragon’s team partners with various down payment assistance programs throughout the city to further guide people throughout the home buying process.

Homebuyer education is an essential component of the Mortgage Access Program. A homebuyer education course is an online or in-person class designed to help prospective homebuyers better understand what’s involved in finding, buying and owning a home. We connect our customers with courses that help prepare them for what to expect before completing the purchase of their first homes.

This loan program also takes into account a debt-to-income ratio of 45 percent and does not have any income limitations. Debt-to-income ratio can be determined by taking monthly debt payments and dividing them by gross monthly income. Additionally, program participants must have a credit score of at least 600, and the property they’re purchasing must be located in a majority-minority census tract.

We’ve seen how the power of homeownership can transform our communities. Learn more about the Mortgage Access Program here.

Chris Waggoner is Senior Vice President of Mortgage Banking at Paragon Bank.

Outfront Media Offers Free Billboard Advertising to Black-Owned Businesses

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Greater Memphis Chamber investor Outfront Media has committed to expanding opportunities to black businesses through the launch of their new campaign, Black Businesses Matter.

The Black Businesses Matter campaign is giving back to black-owned businesses by providing 30 days of free digital ad space on select billboards throughout the Memphis area. This campaign can provide quite a number of impressions for these businesses while they reopen, pivot their services, and/or continue to run during these trying times.

Update: Due to a great number of responses, Outfront Media is completely filled for the next few months and has had to halt inquiries. To learn more about future opportunities, contact Dan Moran at 901.254.8470 or daniel.moran@outfrontmedia.com

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Atlantic Track, Shelby County Schools & Chamber Announce New Apprenticeship

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On Wednesday, June 2, Chamber investor Atlantic Track was awarded $46K to upskill 20 existing employees with Incumbent Worker Training under the Business Grants offered by Workforce Mid-South, a partner of the American Job Centers(AJC) in conjunction with the State of Tennessee Department of Labor and Workforce Development. Atlantic Track was reconnected with the American Job Centers by the Greater Memphis Chamber in March of 2020, as a result, the company has utilized a multitude of AJC Services to include recruitment and prescreening of candidates, On-the-Job Training reimbursement, and serving as a youth work site. Atlantic Track and Workforce Mid-South/AJC are now exploring options to grow the new federally registered apprenticeship program designed to connect high school students to career pathways within the company.

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