Ultimate magazine theme for WordPress.

The Greater Memphis Chamber is addressing the economic situation

MEMPHIS, Tenn. – The Greater Memphis Chamber held its annual State of the Economy event on Tuesday and the group believes things are moving in the right direction.

Unlike previous years, keynote speaker David Waddell, CEO and chief investment strategist of Waddell & Associates, said there is good news for Memphis business owners and residents.

“I think the world will go from the crazy post-COVID world to a slightly more normal world,” Waddell said. “Inflation is going down, your grocery bill is going to go down, there is currently no inflation at the pump, the Feds are going to cut interest rates and the tax code is going to be frozen.” So the shortages people are feeling will soon ease, giving people more money in their pockets should give wallets.”

“Take Back the City”: Memphis residents, tired of crime, look to their leaders for action

Economic experts said developments were moving in the right direction. However, we must address the elephant in the room – crime.

“It is a strategic plan that we must continue to focus on. How do we fight crime and come together as a community to fight crime so we can continue to promote Memphis and the Mid-South for what it is,” said Shawn Clayton, President of Resniant Bank.

In 2023, there were 397 murders in Memphis.

Rampant crime is a major problem for small businesses and the Memphis economy

“Businesses say they want to leave the city of Memphis because of crime. Do we have numbers to back this up? “Businesses leaving the city?” said Gwyn Fisher, economic development officer for the Greater Memphis Chamber. “Frankly, our pipeline of companies coming to town and wanting to grow here is no bigger than it’s ever been.”

Fisher says there is still a lot of work to be done.

“Our poverty levels are still unacceptable. We still have too many Memphians who do not have access to quality jobs. So there’s still a lot of work for us to do,” Fisher said.

Executives also said Memphis is leading the way in creating more quality jobs for people with and without degrees than our peer cities. Job openings can be found on the Greater Memphis Chamber website.

Close modal

Suggest a correction

Comments are closed.

%d bloggers like this: