Greenville Business Magazine 2009 December issue : Page 22
From left to right: Min Ki Kim, Deputy General Manager, Samsung Networks America, Inc. Gerald K. (Jerry) Howard, President and CEO,GADC Morgan L. Harrell, Project Manager, SC Department of Commerce Tavia C.M. Gaddy, Project Manager,GADC Ansik Ko, Deputy General Manager, Samsung Networks America, Inc
>>quarterly update - 2009 A Success, 2010 Bright for County Economic Development
Jerry Howard
With more than a dozen announcements through October 2009 generating over 750 new jobs and nearly $170 million in capital investment, Greenville County enjoyed another good year in attracting new and growing existing businesses — despite challenging economic circumstances nationally.
Since its founding in mid-2001, the Greenville Area Development Corporation has helped over 150 businesses expand operations or relocate to Greenville County. Generating over 9,700 jobs and in excess of $2 billion in capital investment, the county’s economic development efforts have resulted in more than $5 in taxes paid to Greenville County for every dollar invested in GADC initiatives. Now there’s a return on investment.
These are not just new businesses coming to Greenville County. Although new corporate citizens are welcomed and highly sought after, nearly half of 2009’s announcements to date are expansions by existing businesses, close to the historical average where nearly 65 percent of Greenville’s economic growth comes from existing companies.
Fueling this growth are many factors, including access to a diverse and deep range of programs available to businesses seeking to expand here. Most of these tools and incentives are available to qualifying businesses of all types and sizes. The GADC continues to support numerous small R&D companies, service organizations, specialty manufacturers and entrepreneurs in maximizing access to beneficial incentives including:
• Property tax abatements
• Corporate income tax reductions
• Training & infrastructure grants
• Energy grants
And while the nation’s economic downturn hindered, it never stymied GADC efforts as 13 projects came to fruition through October 2009 -- bringing vital economic diversification, quality jobs, good salaries and significant investment to Greenville County. Research-driven enterprises like Kemet and FitesaFiberweb and global brands like Samsung Networks America and GE Aviation demonstrate that Greenville is competitive with any other domestic or international location.
Fundamental economic development principals placed in service in 2001 have spearheaded Greenville’s success. The Greenville Area Development Corporation has built and retained a team that is a model for economic development organizations nationwide. Diverse, talented and innovative, your GADC team leverages economic development systems, processes, tools and insight to great advantage for Greenville.
Marshalling the talents and investment of both public and a record 125 private sector investors this year, your GADC delivers cost-effective, coordinated and results-driven efforts to attract and retain top companies, jobs and investment here in our community.
And momentum builds as we enter 2010. Despite the downturn, GADC staff continues to meet with a record number of prospects interested in considering relocation or expansion in Greenville County – a stream of leads attributable to several consecutive years of focused marketing, communications and outreach programs.
Many of these companies are key players in our identified target segments of Advanced Materials, Automotive, Aviation/Aerospace, Headquarters, Research and Development and Life Sciences. This selective targeting not only focuses precious marketing resources, it also translates into those target segment companies cumulatively offering an average hourly wage of $28.06 – nearly double historical South Carolina, Greenville County and national wage averages.
2010 will see sustained support in terms of funding, staff and results from the innovative Business Retention & Expansion Program which helped to spawn the 2009 launch of Greenville Works -- a collaborative of 12 public and private sector non-profits spanning education, workforce development, economic development and public policy entities. Greenville Works is positioned to stimulate long-term economic success and per capita income growth by developing and implementing a next-generation workforce development strategy.
Other important initiatives planned for 2010 include aggressive marketing to site consultants and target industry decision-makers; involvement in key marketing events and conferences; increasing interaction and communications with key local and national audiences; continued expansion of the GADC Investor base to enhance marketing initiatives; and ongoing collaboration with other economic development organizations.
Thanks in large part to the GADC, Greenville is well positioned to be competitive and successful in today’s global economy. The future is indeed bright. As always, we appreciate those who support our efforts to advance Greenville. Your time, insight, expertise and financial assistance are invaluable. Please let us hear from you, and have a happy and prosperous new year.
Jerry Howard is president and CEO of the Greenville Area Development Corporation. He can be reached at (864) 235-2008, or via email at jhoward@greenvillecounty.org.
Previous Page Next Page
Publication List
