Target Industries Benefit from Regional Strengths

The Innovation Valley Strategic Blueprint outlines 13 targeted industries that are perfectly suited to take maximum advantage of the area’s strengths, especially its concentration of scientific and technological assets, central location, well-developed infrastructure, and low cost of living.

The key industry sectors are:

• Agricultural research and development - Improves the quality and quantity of productivity of agricultural endeavors, establishes sustainable systems for global food production through genetic modification, transforms primary products into consumer products, and prevents and corrects harmful environmental effects. Examples of Innovation Valley companies involved in agricultural research and development are DuPont Tate & Lyle BioProducts, DuPont Danisco Cellulosic Ethanol & Genera Energy, Green Mountain Coffee Roasters, Monterrey Mushrooms, and Tate & Lyle.
• Materials science - This sector plays an important role in areas such as medical devices, electronics, telecommunications, information processing, nuclear power and energy conversion. Oak Ridge National Laboratory's Center for Nanophase Materials Science, Advanced Microscopy Laboratory and Spallation Neutron Source make Innovation Valley the world leader in materials science research.
• Media technology - Innovation Valley boasts prominent media companies, such as Scripps Networks, RIVR Media and Jewelry Television, employing East Tennesseans in film and video production, programming for broadcast and cable networks, digital media production, pre-productions, post-production, editing, imaging, graphics, animation, distribution and replication.
• Nanotechnology - This sector refers to the science, engineering and technology of building devices, structures and systems from single atoms and molecules. More than $2 billion has been invested in nanotech research and development facilities. These world class facilities include Oak Ridge National Laboratory's Center for Nanophase Materials Science, the Nanoscale Science and Technology Laboratory and the Spallation Neutron Source.
• Renewable energy - Refers to biomass, geothermal, solar, hydropower and wind energies. Home to the Tennessee Solar Institute, a joint collaboration of the University of Tennessee and Oak Ridge National Laboratory, the Innovation Valley is home to leading research in renewable energy.With over $2 billion investements in the State of Tennessee by Wacker Chemie, Hemlock Semiconductor and Confluence Solar, Tennessee is a leader in renewable energy.
• Automotive suppliers - One-fifth of the Innovation Valley's manufacturing workforce is in the automotive supplier sector. Within a 450-mile radius of fifteen original equipment manufacturers, the Innovation Valley is a prime logistical location for suppliers. Such automotive suppliers as, Denso Manufacturing, Exedy America, and Key Safety Systems have chosen the Innovation Valley as locations for their manufacturing operations.
• Pleasure boat manufacturing - Named as a "Center of Excellence" for boat manufacturing by Area Development magazine, the Innovation Valley is home to Brunswick Boat Group, Sea Ray Boats, and Mastercraft Boats.
• Warehousing/distribution - The Innovation Valley is located at the intersection of Interstates 40, 75 and 81 and within a day's drive of three-quarters of the U.S. population making it a prime location for warehousing/distribution. Approximately 14,000 warehousing and distribution jobs are in the Innovation Valley and account for an annual payroll of $3.8 billion. Examples of warehousing and distribution companies in the Innovation Valley are American Honda/Komyo, H.T. Hackney and Sysco.
• Logistics services - This multibillion-dollar industry deals with the efficient flow and storage of goods, services and related information. Knoxville has been recognized as receiving the highest possible ranking in Southeast Regional Logistics Quotient published by Logistics Today magazine. The University of Tennessee's supply chain management/logistics program is highly regarded worldwide.
• Regional headquarters - Due to an excellent quality of life, low cost of doing business and an skilled professional workforce, regional corporate headquarters are locating in the Innovation Valley. Bandit Lites, Bush Brothers, and Pilot Travel Centers have their headquarter operations located within the Innovation Valley.
• Shared service facilities - CVS Caremark, Kimberly-Clark, SAIC and Marriott moved their shared service facilities to the Innovation Valley for average wages 13% below the national average, substantial tax incentives and an unsurpassed quality of life.
• Venture capital firms - These firms provide seed money to perfect technology into a product potential, bridge money to support full-scale production and marketing efforts. Innovation Valley offers a wealth of talent and a promising track record with more than 100 startup companies assisted in the last 5 years.
• Retirement services - The Innovation Valley is a popular retirement destination primarily because of its small, quiet towns and low cost of living. Well-respected hospital systems, retirement communities, nationally known recreational activities, seasonal climate and natural resources are a few of the added perks.