Memphis leaders look forward to continued economic growth in 2020

Memphis leaders look forward to continued economic growth in 2020

MEMPHIS, Tenn. (WMC) - 2019 has been a major year of growth for the City of Memphis.

"Obviously, with over $19 billion of development going on from Collierville to Downtown Memphis, from the airport to Frayser and all points in between, Memphis has never seen this type of growth I don’t think in our history,” said Kevin Kane, President and CEO of Memphis Tourism.

Hotels, apartments complexes, and new restaurants are just some of the big projects coming to the Bluff City.

Memphis Tourism credits the growth to a strong corporate base and thriving visitor economy.

“Obviously tourism and hospitality is a big part of that,” Kane said. “About $4 billion in construction and tourism hospitality with the airport renovation, right behind me here at the convention center, total transformation here. You know hotel projects going on all over the community.”

Major events in 2019, like the CIty’s Bicentennial celebration, as well as NBC’s nationally televised show Bluff City Law helped put the city on a national stage.

"This year we will have more visitors in our community than we ever have in our city, we will sell more hotel rooms than we ever have in our history in Memphis and Shelby County,” Kane said.

As 2019 comes to a close, Kane is looking forward to continued growth in the new year.

"One thing we're very excited about will be in August of 2020 reopening the Memphis Convention Center now the Renasant Convention Center to the world with beautiful hotel quality amenities,” Kane added.

One block over from the new convention center will be the 500-room, $240 million Loews Hotel.

Also on the horizon -- the Fairgrounds Sportsplex, which will begin construction in 2020, and Memphis International Airport renovations will be almost complete in 2020.

“People who have not seen Memphis and come here three years from now, they’re not going to recognize it,” Kane said.

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