21st Century jobs initiative - building the foundations for a 21st Century economy. Final main report

The 21st Century Jobs Initiative has been launched in the context of new realities in Washington, D.C., rapid restructuring of the US economy and accelerating changes in the makeup of the East Tennessee economy driven by these and other external economic forces. Continuing downward pressure on Federal budgets for programs that support three key institutions in the region - DOE`s Oak Ridge complex, the Tennessee Valley Authority and research programs of the University of Tennessee - are especially threatening to the region. With a large part of its economy dependent on Federal spending, the area is at risk of troublesome impacts that could ripple out from the Oak Ridge and Knoxville home of these institutions throughout the entire 15-county {open_quotes}Resource Valley.{close_quotes} As these economic forces play out in the region`s economy, important questions arise. How will East Tennessee {open_quotes}earn its living{close_quotes} in the future if the Federal government role in the economy shrinks? What kind of new industries will be formed to replace those at risk due to Federal cutbacks and economic restructuring? Where will the jobs come from for the next generation of job seekers? These are among the questions driving the 21st Century Jobs Initiative, an action-oriented program designed and implemented by local leaders in response to the economic challenges facing East Tennessee. Fortunately, the region`s economy is strong today. Unemployment is at near record lows in most counties. Moreover, leaders are increasingly aware of the threats on the horizon and are already moving to action. And the impacts from the forces at work on the economy will probably come slowly, over the next decade or so. Based on economic research and input from local leaders knowledgeable about the economy, the 21st Century Jobs Initiative has set forth a strategic economic development plan for the region.