Development of investment zones in the renewal model for a former industrial city: Case-Study of Chattanooga

Abstract

The article describes the advanced experience of the USA which have been developing investment zones in modernizing the economy and the planning structure of cities using the example of Chattanooga (Tennessee). The initial state of the economic and social decline of Chattanooga in the early 1980s is described. The results of the analysis of social groups that initiated the process of modernization of the urban economy in the first half of the 1980s are presented. The importance and role of urban planning and new land management policies implemented in Chattanooga are identified. The initial and strategic aspects of the economic growth which have become drivers of the urban development are identified. The role and importance of tourism, new tourist attractions and a new network of natural parks, which became the basis for the tourist flow at the national level, are described. The types of new investment zones are determined and their connection with the development of the planning framework of the city is described.