EDC Stares Into The Future Of City, County

Mar 8, 2010 — Greensburg Daily News

Elizabeth Bailey

Mar. 8, 2010 (McClatchy-Tribune Regional News delivered by Newstex) -- As the sun rose over Decatur County Thursday, the Economic Development Corporation board of directors and a few guests gathered at the MainSource Bank corporate office to learn about the areas of strength and weakness looking to the future of city and county economic development.

With total employment lagging behind where it was in 2001, there is room for growth, Robert Price and Joan Herron of Atlanta-based Herron Consulting noted. They explained the many factors companies consider in relocating or opening a new location. In the initial phase, consultants and companies are looking for "fatal flaws" in planning in a wide variety of communities, Price explained.

"If the community doesn't meet the test on a few key factors, it will be eliminated (from consideration)," he said.

Due to the ability to ship products, American communities are in competition not only with their neighbors but also with communities across the globe, he explained. Companies are most concerned about future problems with competition from low-cost countries, the cost of health care, the cots of raw materials, the ability to attract and keep skilled labor and the availability of working capital. Low on the list of concerns for most companies are the issues of environmental policies and the potential tax burden, Price explained.

While some factors such as the availability of infrastructure are easily measured for companies seeking a new site, there are other factors that are more subjective. Companies are also looking at quality and productivity of labor, the quality of educational and vocational facilities and the availability of telecommunications technology, to name a few.

As communities such as Greensburg and Decatur County examine themselves with an eye for future economic development, there are a number of ways to improve preparedness, Herron explained. Successful communities are organized for success and have community cohesion that creates a unified image to potential projects. For companies, she noted, risk is the enemy, and any perceived lack of organization or cooperation can mark the end of negotiations.

"Companies run from communities in disarray," she noted.

An organized community, Herron explained, is able to respond rapidly and consistently to requests for information. It is important to remember that political boundaries can create a lack of communication that is discouraging to companies and consultants, she noted. Communities that are successful in their economic development goals have put in place plans and created a common vision.

"In today's world, you really need an internal and external marketing strategy," Herron said.

Education is also a key issue for companies as they seek sites. The level of skill required of workers is rising, and to be successful in attracting companies, educational resources need to be in place.

"Future successful communities stress an education mindset over low taxes," Price noted.

The site selection process includes examining the technological capabilities of educational facilities as well as skills in science, math, teamwork and customer-facing, Price explained. In addition, insufficient funding for local education programs leaves communities unprepared for advanced technology and manufacturing, he noted.

In order to be considered in the later phases of site-selection, communities must have teams in place that can form relationships to assure companies that they understand their concerns, will share the risk and can help in navigating the political and regulatory landscape. In addition, the community must show continuos effort to improve the business environment and commercial infrastructure.

For Greensburg and Decatur County, the consultants explained, the Economic Development Corporation shows leadership and organizational skills that could aid the process of enticing companies to choose the area. However, there is room for significant growth in terms of marketing and long-term strategy. The consultants also encouraged developing a brand for the community to help interested companies to see what the area has to offer.

"It begins with forging an understanding of the community's value and enrolling stakeholders in delivering on it," Price said.

Beautification of the downtown square, they noted, would be a positive step to encouraging growth. Herron also noted that signage is important in helping those from outside the community to navigate through it. In addition, it can be positive to clearly welcome newcomers to the city, Price noted.

"Make sure you know who you are," Herron said, "because first impressions are important."

"Every community has a story," Price continued, "and it's not just a slogan. It's about taking a good picture and making it even better."

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