Memphis Fast Forward strategies are based on the common sense premise that economic growth and prosperity, and improved quality of life, will follow once Memphis and Shelby County successfully address the basics: good jobs, quality education, safe streets and efficient government. This initiative relies on strategic Plans in each of the following areas:
- Economic development (MemphisED) emphasizing innovation and entrepreneurship, and global leadership in the bioscience, logistics, tourism and music/film industries
- Human capital development (PeopleFirst!) calling for education and training to help people develop to their full capacity, starting at birth and continuing throughout their careers
- Public safety (Operation Safe Community) providing proven crime abatement and intervention strategies through effective policing, prosecution and law enforcement/community partnerships
- Government efficiency (City and County Efficiency Plans) increasing efficiencies and better return on tax dollar investments for lean government, progressive policy and overall stability
The community has embarked on numerous past economic development initiatives. Some have achieved a measure of success, while others have delivered disappointing results. The Memphis Fast Forward approach learned from these past efforts to create the best probability for success. View our eight guiding principles based on best practices.
Return on Investment
When the Memphis Fast Forward goals are met, the payoff will be significant. Quality of life will be improved for Memphis and Shelby County residents, with an expected financial return for the community overall of:
- 49,395 net new jobs at average wage of $51,364
- Total new income of $2,537,124,780
- Additional $85 million in annual tax revenues*
View the Performance Scorecard which includes the specific economic targets against which the success of the full initiative will be measured.
Funding
Funding from both public and private sources supports Memphis Fast Forward. To date, foundations, corporations, individual citizens, state, local and federal governments have each contributed to the four Plans. Funding will continue to be sought throughout Plan implementation.