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EDC Chair Karen Moore: We are Ready for a Quantum Leap in 2012
(As appeared in the Tallahassee Democrat, Sunday, January 8, 2012.)
New jobs are good. They are good for the companies that create them, the new employees and their families, the other businesses in the community, the nonprofits that benefit from corporate support, and on and on.
Creating those jobs is a primary focus of the Economic Development Council of Tallahassee/Leon County, and based on the successes of 2011, there is reason to be very excited about what lies ahead.
The EDC and its partners in government, education and business are working to enhance our business environment and support a quality of life that encourages entrepreneurs to thrive, local businesses to expand and like-minded companies to make Tallahassee home for their employees and their families.
To make the task of job creation more efficient and effective, the EDC and its partners target companies in six specific industry sectors — Renewable Energy and the Environment; Aviation, Aerospace, Defense and National Security; Health Sciences and Human Performance Enhancement; Information Technology; Research and Engineering; and Transportation and Logistics. These industry sectors were chosen because of their role in regional development, their higher-than-average wages and their ability to attract or establish a vendor supply chain. They also show the most promise for exporting goods and services outside the four-county economy and bringing new revenues into the region.
While those are all good reasons, the most important is that these industries are simply good fits for our community. They align with our local talent base, they are supported by the incredible research being done here and we have the capacity to train a workforce that will ensure that they have the employees they need for years to come. We have spent years laying the groundwork for a comprehensive approach to job creation, and it is exciting to see it all come together.
To help us understand the potential impact of these jobs, we modeled real-life local jobs that have been created over the past two years and then looked at what similar growth would mean for the future. The results of the impact analysis were pretty amazing. For every 1,000 jobs created in the targeted industry sectors through expanding local business, entrepreneurship or attracting new companies, there is a $70 million annual increase in goods and services produced across the local economy resulting in a $41 million increase in annual consumer expenditures.
That is a game changer. But it won’t happen on its own. To help us stay on track in key areas that have proven successful, we have established the following priorities for the 2012:
- Maximize the competitive advantages offered by our higher-education institutions with an emphasis on commercializing university research;
- Support education-driven economic development initiatives;
- Foster entrepreneurialism and advance local businesses by providing additional resources and technical assistance;
- Cultivate a vibrant business development pipeline through creation, retention, expansion and attraction; and
- Ensure that the EDC has the financial and staffing resources to be successful.
These priorities represent the accomplishments of the past and our capacity to take the next step forward. Thanks to the hard work of our partners and the leadership and vision of EDC staff, we have reached a critical mass of information and expertise, coupled with a good public/private funding formula, that has Florida’s Capital Region poised to make a “Quantum Leap.”
But this is no blind leap of faith. We are using a balanced approach to economic development by building out initiatives such as the Entrepreneurial Excellence and International Business Development programs that support strong businesses at every stage of development – from start-up to major regional employer.
Much has been accomplished, but there is still much to do. The process of supporting the invention, growth and attraction of good business is never-ending. We are working with site consultants from around the country and hosting visits to our community. We are helping connect researchers with investors to get ideas to the marketplace. We are assisting small businesses with expansion and getting tax credits for employee training.
We could also use some help. A lot of the behind-the-scenes work that goes into the process of job creation is done by our partners in higher education, the City of Tallahassee and Leon County, the Governor’s Office and groups such as Enterprise Florida and Florida’s Great Northwest. We cannot not do it without them. We also can’t move forward without the continued support of our EDC volunteer partners who believe in this community and want to see it prosper. If you are interested in supporting economic development with your talents and resources, there is a place for you in the EDC. For more about how to get involved, please contact EDC Executive Director Beth Kirkland at (850) 224-8116 or bkirkland@taledc.com.