Economic Outcomes
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The recommendations of the new strategic framework for Memphis, including leveraging Memphis’ existing medical and research assets to form the core of a future biomed economy, resulted in one-third of all new economic development in the region, representing thousands of new jobs and over $200 million in new investments in Memphis. Over a billion dollars worth of transportation infrastructure was planned, including a new road/rail bridge over the Mississippi River.
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The Gallis Report recommendations resulted in $200 Million to support downtown initiatives, $90 Million in capital investment. The region began a “Great Cities Symposium Series” and embarked on a public art / civic space enhancement program. Plans for a 150-mile river park were developed, with the first pieces now in place – supporting economic activities such as Paddlefest – an annual Ohio River festival.
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“The Gallis Report had a role in the formation of Main Street Ventures. I carried it at all times as I built support for the initiative. The report stirred up fresh thinking about this community’s need to focus more on opportunities in life sciences.”
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George Molinsky, Partner,
Taft Stettinius & Hollister
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