Prosper Memphis 2030
Our Strategic Plan for building a GREATER Memphis
Across the U.S. and much of the world, advanced industries powered by innovative technologies are driving economic growth. And that’s true for Greater Memphis as well.
These advanced companies are in areas like automotive and assembly, aerospace, advanced electronics, battery technology, semiconductors, robotics, artificial intelligence, and advanced machinery. What they have in common is a deep need for reliable supply chain and logistics partners and infrastructure and a skilled and diverse workforce.
Greater Memphis has both.
We are a global logistics leader, the “Supply Chain Capital of the World,” with ready access to the ‘Four Rs’ — river, rail, road, and runway. Memphis has the busiest cargo airport in the U.S. and second busiest in the world; the third busiest trucking corridor in the nation; the fifth largest inland port; and we are one of only a handful of cities with five Class 1 railroads.
Memphis is also the largest majority-Black city in the U.S. and leads the nation in its concentration of Black professionals in industries like manufacturing, logistics, and tech.
We leaned into those strengths to create our first strategic growth plan in more than 20 years. It sets bold but attainable goals — including minority participation goals — that are driven by data, oriented to outcomes, and pointed at creating a GREATER and more prosperous Memphis.
We call it Prosper Memphis 2030.
Read it now.
Prosper Strategy
Three big goals for our region to achieve by the end of 2030:
- Add 700 advanced industry companies
- Create 50,000 high-quality jobs (minority goal of 50%)
- Award 20,000 STEM degrees and credentials annually
Ambitious? Yes. Achievable? Absolutely.
The strategic plan to deliver on our Prosper Memphis 2030 targets is refreshed annually and drives the Greater Memphis Chamber’s work each year.
The 2023 plan has two pillars and six goals.
Pillar I. Economy of Innovation. The Chamber leads the region toward inclusive prosperity across three goals:
1 — Economic Development
The delivery of business services that help existing Memphis businesses thrive and grow, and that attract new businesses with high-quality jobs to the region
2 — Diversified Human Capital
Workforce development and educational alignment that fosters a labor force diverse in the skills our employers need and is inclusive of all races and demographics
3 — Infrastructure Development
Direct support to improve and expand regional physical infrastructure and illuminate infrastructure needs that are critical for Memphis businesses
Pillar II. Operational Excellence. The Chamber models the way for Memphis businesses through our own growth ambitions and investments in:
4 — Growth-Minded (revenue, profitability, and influence)
The Chamber team is devoted to leading the Memphis economy into a new era of prosperity and investing in our own resources to do so
5 — Brand Dominance
It will be trusted and valued that the Chamber serves ALL businesses in Greater Memphis – an impact that is felt locally as well as nationally
6 — High-Performing Systems
With cutting-edge tools for success available in our region, the Chamber will model high performance in our work together internally and with our members and partners