Strategic Plans for Economic Development in Florence Unveiled
A Blueprint for the Next Decade of Prosperity
Florence County leaders, after significant economic accomplishments, have posed an intricate question: What’s the path forward? As they revel in corporate triumphs like Buc-ee’s and AESC, how can they entice the subsequent era of corporations? As more businesses emerge, how will they handle the impact of growth – such as rising housing costs, rural development, and utility pressure?
A strategic plan, freshly presented for the Florence County Economic Development Partnership (FCEDP), delineates the road ahead. As described by Gregg Robinson, CEO of the FCEDP, the plan serves as a roadmap for the next decade of economic expansion and a method of displaying industries and residents the county’s objectives. “You have to know where to aim before you shoot,” states Robinson.
A Wave of Prosperous Times
Contrary to the surrounding counties, Florence County’s economy has witnessed steady growth over the last decade. In 2023, the county accounted for 75,273 jobs, mostly led by government sectors, health care, social assistance, and retail trade sectors.
The strategic plan proffers doubling down on tactics such as expanding industrial sites and enhancing utility access while dealing with fresh challenges, particularly a shortage of affordable housing. The plan is the result of several months of work by consultants who collated data and conducted listening sessions across the county with various stakeholders.
Betting High on Manufacturing
Florence County plans to maintain its robust economic momentum by reinforcing its former strategies. This incorporates the development of industrial parks, coordinating utility infrastructure development, and recruiting new industries. The strategic plan quotes a study revealing companies struggling to locate ample sites for growth. Consequently, they are switching to smaller cities and rural communities. This positions Florence County impeccably to leverage the situation, according to Robinson.
With manufacturing sector growth being a top priority, the county is in a prime position for further expansion in this area, states the report.
Workforce Development and Quality of Life
The plan also mentions areas where the FCEDP can indirectly aid economic growth by cooperating with its public and private sector partners. This includes workforce development and quality of life enhancement.
For ensuring companies have the requisite local workforce, the FCEDP could formulate a scholarship program for high-demand career paths, create more training programs tailored to local employers’ needs, and encourage K-12 students to explore area jobs, suggests the plan.
Challenges and Opportunities in Housing
“Housing came up in every single conversation we had,” says Heather Simmons Jones. The plan shows a higher percentage of people in Florence rent rather than own their homes compared to the rest of the state, implying rental housing is in high demand. The cost of housing has also soared, with an estimated 18% of homeowner households in Florence County being cost-burdened by their housing, 8% of them severely so.
The plan implies holding a housing summit, conducting a countywide housing assessment, and identifying areas where housing should be constructed.
As the strategic plan is intended to last another ten years, Robinson underlines that it’s a guide. Conditions are likely to change, and partnerships need to remain agile as it capitalizes on opportunities and tackles challenges.
