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 Is Key to Our Success.

It's easy to spot poor zoning because of the inconvenience it causes. 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 Memphis Bioworks Foundation is actively involved in "Smart Growth" activities, in an effort to revitalize the area and anticipate the needs of the community. Imagine the consequences of creating 9,000 new jobs without adequate parking or proper access. The Foundation is working with city and county leaders to ensure urban planning efforts are consistent with a busy medical district.

Another part of our plan is to transform the housing market. University Place HOPE VI is a mixed-use, mixed-income development. It is part of a comprehensive plan to revitalize Memphis' urban core, which includes the Memphis Medical Center district. To date, University Place HOPE VI has successfully attracted $23.5 million in grant funds to renovate the Lamar Terrace housing project as part of a $60 million plan to improve housing in the area.