CHATTANOOGA (WDEF)-While most of the country struggles to climb out of the recession, Tennessee and in particular, Chattanooga, has weathered the storm fairly well.
Thanks to technology and small businesses, the Scenic City could stay strong against an uncertain economic future.
Bill Hagerty, Tennessee Commissioner of Economic Development says Chattanooga's business community is unique.
"It's built on a broad base of community involvement, great leadership here locally and really great partnership with the state. The workforce that we've been able to deliver here for companies like Volkswagen, have been tremendous and frankly the cultural receptiveness of this city have been so positive. "
"There are a lot of groups in this area that are out selling and promoting Chattanooga and we are now on the map worldwide as a result of that coordinated effort," adds Ron Harr, CEO of the Chattanooga Chamber of Commerce.
Hagerty spoke to the Chattanooga Rotary Club this afternoon. He emphasized the role technology has played in keeping the Scenic City ahead of the curve.
"You've got a great infrastructure here in Chattanooga to support a lot of tech activity. You also got the involvement of the local universities and really a receptive environment here for early stage funding."
Hagerty says while he doesn't expect a recession on the horizon, there's a good chance that growth will slow significantly over the next few months.
"We are not having the type of recovery from this recession that typically follows the type of down draft that we experienced. It's going to be slow, we are going to be muddling through spotty periods of improvement."
Thanks to Chattanooga's diversity of development in other business sectors, it looks as if the city is ready to weather another economic storm headed our way.
"We used to be almost all manufacturing, and now we have great diversity here and that helps in the economic downturn , as one thing goes up another thing goes down and helps us a lot," Harr said.
"What we've seen is a tremendous amount of energy a lot of enthusiasm , they do wonderful events and we are going to see i think tremendous success from these early stage companies that are growing here right now," added Hagarty.
He says international investment in Tennessee is also booming, up 20 billion dollars during the past decade.