News

Synchronist tool helps Alabama-area expansions, retentions

A new economic-development tool that will help in the retention and expansion of local businesses and industries is now available in Cullman, Ala. TVA and the Economic Development Partnership of Alabama are partnering with the Cullman Area Chamber of Commerce, Cullman Economic Development Agency, Cullman Electric Cooperative, and Cullman Power Board to provide the Synchronist Business Information System software.

Communities use the Synchronist system to conduct confidential surveys with local industries to gain critical information about their existing operations. The partners then identify and solve issues facing local firms and identify opportunities to help firms expand and build relationships with local business executives.

“It is extremely important for economic developers to take care of existing businesses and industries,” says TVA Senior Vice President of Economic Development John Bradley. “Their growth is essential to the economy of local communities.”

The Cullman community partnership will use a team approach to inventory and document business needs and opportunities for existing industry growth. “Those communities that are experiencing success are those that focus on partnerships,” Cullman Chamber Chairman Paul Bussman says. “The chamber is pleased to join these partners in reaching out to our existing businesses.”

In fiscal year 2003, TVA worked in partnership with various economic development organizations and partners to help attract or retain 47,000 jobs and leverage $1.58 billion in capital investment. TVA also provided more than $20.6 million in economic development loans. TVA has worked with the Tennessee Department of Economic & Community Development and the Mississippi Development Authority to use the Synchronist system to help create and retain jobs in regions of those states. Read about the Mississippi initiative.