In October, EDGE President and CEO Dr. Joann Massey was invited to appear on WREG’s Live at 9 alongside Riko and Tiffany Wiley. On the local morning show, Dr. Massey highlighted EDGE’s ongoing efforts to support economic development throughout Memphis and Shelby County. The community-focused segment touched on a variety of topics, including small business success stories, major events, and exciting new investments that are driving progress in the region. These initiatives demonstrate how EDGE continues to #PowerProgressThroughPartnerships and foster a stronger economy.
EDGE Economic Development & Community Recognition Awards Breakfast
A focal point of the conversation was the upcoming EDGE Economic Development & Community Recognition Awards Breakfast, happening on October 10. This annual event brings together regional leaders, including mayors, congressmen, and commissioners, to recognize the significant contributions of businesses and individuals to economic growth.
The program serves as a platform to celebrate the accomplishments of local entrepreneurs, organizations, and innovative businesses that have made a lasting impact on the community. This year, the event will introduce the Culture Maker Award, honoring individuals who have shaped the cultural landscape of Memphis. The Kidpreneur Award will also return, spotlighting young entrepreneurs who are already making strides.
This is a key moment for businesses and decision-makers to come together and discuss the future of economic development in Memphis. By fostering an environment where collaboration and recognition are prioritized, EDGE is laying the groundwork for continued growth in the region.
The success of Riko’s Kickin’ Chicken
Among those recognized for their growth and success is Riko’s Kickin’ Chicken, a small restaurant that has experienced substantial expansion with the help of EDGE. A popular dining spot in the Medical District, Riko’s received a $14,900 ICED loan from EDGE in 2023. These funds allowed the Wileys to make crucial improvements to the Madison Avenue location, including both facade and interior upgrades. Renovations enhanced the restaurant’s atmosphere and positioned Riko’s for an increase in sales, solidifying its status as a staple.
Small businesses like Riko’s often face challenges in finding the resources they need to grow. EDGE offers a range of support services, including financial assistance and business expertise, to help entrepreneurs level up and achieve longevity. By providing access to capital through the ICED loan program and other initiatives, EDGE empowers small business owners to focus on what matters most – building their businesses and contributing to the economy.
Addressing supply chain concerns amidst port worker strikes
Dr. Massey also touched on the ongoing port workers’ strike along the East and Gulf Coasts, which has raised concerns about potential supply chain disruptions in Memphis. Although the Port of Memphis does not operate with International Longshoremen’s Association (ILA) workers and local labor is not directly impacted, delays at coastal ports like New Orleans could affect the flow of goods into the city.
The Port of Memphis, managed by EDGE, is working closely with national Port leaders to mitigate any potential disruptions. While Memphis industries remain operational, there could be challenges related to the rerouting of cargo, especially the repositioning of containers. EDGE is focused on keeping operations running smoothly and ensuring that the local supply chain remains as resilient as possible.
New investments in the Port of Memphis
In addition to supporting small businesses and navigating supply chain challenges, EDGE is spearheading exciting new opportunities that promise to bolster the region’s economic future. Two leases were recently announced, involving Cardinal Energy Storage East, LLC and CTC Property, LLC.
Cardinal Energy is developing an advanced energy storage facility, while CTC plans to lease over 500 acres for expansion. These investments represent significant opportunities for Memphis, not only in terms of job creation but also in positioning the region as a leader in innovation and technology. As the property owner and a key player in these deals, EDGE is playing a central role in bringing transformative projects to Memphis, further solidifying its position as a hub for economic development.
EDGE is committed to fostering a thriving, inclusive economy. By leveraging strategic partnerships and offering targeted support, EDGE continues to build a brighter future for Memphis, ensuring that businesses of all sizes have the resources they need to succeed. Through #PoweringProgressThroughPartnerships, EDGE remains at the forefront of Memphis’s economic growth, working tirelessly to uplift the community and create lasting impact.