Memphis is the only region among the benchmarks to have four out of the five bioscience industry sectors stand above the national level of concentration, with three of the sectors - medical devices, hospitals and organic chemicals - reaching a high level of regional specialization.
Battelle Memorial
Institute Study - 2003

Smart Growth

Strategic Growth to Affect the Bioscience Future

The redevelopment of the Memphis Medical Center District is crucial to the ability to recruit, retain and increase the bioscience stake in the area. When done well, land use plans create a synergy among traffic, businesses, and residents. Termed "Smart Growth," this strategy is an important part of the renaissance taking place in the area in and around the Memphis Medical Center District. If the area is not transformed into a vibrant community, high-tech facilities alone will not be enough to attract bioscience businesses.

The “Smart Growth” focus on bioscience expansion in Memphis includes the coordinated efforts to effectively use land, create smooth traffic and transportation movement in and around the district, and provide opportunities for new businesses and residential development. It is extremely important to have a synergy between all these facets to be able to successfully move forward with the creation of 9,000 new jobs and establishing an international center of excellence.

The Memphis Bioworks® Foundation is actively involved in "Smart Growth" development of the medical district, working with city and county leaders to ensure urban planning efforts are consistent with and address potential issues that may arise due to the growth of the district. In concert with these efforts, the Foundation is working with business, education and entrepreneurs to help voice their needs.

Transformation of the area is evident and one of the most notable is the construction and opening of University Place. The HOPE VI project is a mixed-use, mixed-income housing development located in the southern part of the medical center district. This comprehensive planned community is an important initial step to improve and revitalize Memphis' urban core. The University Place HOPE VI has successfully attracted $23.5 million in grant funds to renovate the residential area and it is part of the $60 million plan to improve the overall housing in the medical center district.