Florence County Introduces Comprehensive Economic Development Plan

News Summary

Florence County has launched a new strategic economic development plan aimed at addressing growth challenges and attracting new businesses over the next decade. Presented by Heather Simmons Jones from MRB Group, the plan focuses on expanding industrial sites and improving affordable housing. With the county’s economy thriving, particularly in transportation and warehousing, the plan seeks to ensure sustainable growth while catering to the needs of residents, particularly in terms of housing affordability.

Florence County Unveils Ambitious Economic Development Plan Amidst Growth Challenges

Florence County is buzzing with excitement as its economic landscape continues to thrive, marked by impressive milestones such as the grand openings of Buc-ee’s and AESC. With this momentum, a fresh strategic economic development plan was introduced, shining a light on the path forward for the county.

Charting a Course for the Next Decade

On August 28, 2024, Heather Simmons Jones from the MRB Group presented this vital plan that sets a roadmap for the next ten years. The plan underscores the necessity to attract new businesses while tackling the challenges brought on by the county’s ongoing growth. The strategies put forward are ambitious yet practical, focusing on expanding industrial sites, improving utility access, and enhancing affordable housing options for residents.

To prepare this thoughtful blueprint, significant data gathering was conducted along with listening sessions, engaging community stakeholders throughout Florence County. This inclusive approach ensures that the strategies proposed reflect the needs and desires of the people who call this vibrant place home.

Florence County’s Surging Economy

It’s hard to ignore the positive turn Florence County’s economy has taken over the past decade, especially when neighboring counties have faced decline. As of 2023, Florence recorded a whopping 75,273 jobs, with key sectors like government, healthcare, social assistance, and retail trade leading the charge. Although the employment growth aligns with national trends, it falls short of the overall state growth rates, highlighting a need for tailored strategies to keep pace.

One striking statistic from the last ten years is the remarkable growth in the transportation and warehousing sector, which skyrocketed by 107%, employing nearly 3,900 people! Meanwhile, jobs in manufacturing also rose by a substantial 24%, bringing the total to 7,350. This blend of thriving existing industries along with the influx of new companies is a recipe for economic success.

Population Dynamics and Housing Challenges

Florence County has seen modest population growth of 0.13% from 2010 to 2020, primarily within the city of Florence, while areas like Johnsonville and Lake City experienced notable declines. As diverse strategies are essential for urban and rural regions alike, the Florence County Economic Development Partnership (FCEDP) aims to develop industrial parks, enhance utility infrastructure, and recruit new industries to sustain this growth.

A pressing concern highlighted in the strategic plan is the struggle for affordable housing. With approximately 1,911 housing units under construction or in planning stages as of July 2024, the community is actively working to meet the increasing demand. Currently, a significant percentage of residents in Florence County face burdensome costs, with 18% of homeowner households and a staggering 41% of renter households considered cost-burdened.

The path forward includes plans for a housing summit and a comprehensive countywide assessment to better understand housing needs. This step will help ensure that both low-income families and first-time home buyers can find suitable housing options.

Bright Future Ahead

The strategic plan not only serves as a flexible guide to navigate future challenges and opportunities but also reflects the ongoing investment in Florence County. A notable example is the upcoming $66 million distribution facility for Cheney Brothers, which exemplifies the county’s appeal for businesses.

As Florence County continues to expand and evolve, this new economic blueprint stands as a testament to its commitment to creating a thriving community where businesses and residents alike can flourish. With these well-defined goals in place, all eyes are on Florence County as it embarks on this exciting journey towards sustained prosperity.