By Guest Contributor Caitlin Covington | PR strategist | Crawford Strategy
Commerce Secretary Bobby Hitt discusses economic growth, S.C.’s public image and the need for shovel-ready inventory
While the SCEDA Midyear Meeting began with recreational events and social gatherings, the real value was in the connections made, the conversations that took place and the promises of a positive future for South Carolina’s economic development.
Friday’s conference speakers were among the most influential economic development leaders in the state. Greenville Mayor Knox White welcomed everyone to the Greenville Hyatt; then Fred Cartwright, executive director of CU-ICAR, spoke on the future of the automotive industry. John Montgomery, the director of land holdings at Pacolet Milliken, explained his company’s process for maintaining land and land development. Merl Code, with Ogletree Deakins Nash Smoak & Stewart, P.C., spoke on the merits of leadership; economic development leaders are the community’s gatekeepers, you know. And finally, Secretary Bobby Hitt explained how South Carolina is just right for economic development and just right for all of us.
1. The Statistics Say It All
If we really want to know how South Carolina is doing in terms of economic growth, take a quick peek at the statistics for our state – they might surprise you. Here’s a brief breakdown of South Carolina’s last few years in terms of our key industries, according to Hitt:
–Since January 2011, South Carolina has recruited $11.7 billion in capital, with foreign firms creating $6 billion in capital.
–The unemployment rate dropped by 3 percent in South Carolina’s rural areas in the last two years.
–There has been an 18 percent increase in manufacturing output in the last two years.
–South Carolina is currently the No. 1 exporter of automobiles and tires in the United States. “We are seeing commerce from Asia and foreign markets – Charleston should be prepared to service the entire Southeast,” said Hitt.
2. We Need Inventory
South Carolina is running out of competitive sites and buildings. Our state must find places for new businesses and expansions to take root, because we are quickly exhausting the inventory we have of available, shovel-ready inventory. This is good news and bad news. Good, because it means we have done a terrific job of selling inventory; bad, because we don’t want to miss out on future opportunities in the next couple of years. “All of our competitive states are sitting there with shovel-ready sites,” said Hitt. As economic developers, we need to pull our resources within the state and think about our inventory, because it will become terribly important to us in the future.
3. Adjust Our Perspectives
Hitt explained that the business community outside of South Carolina has a great image of our state. When asked about South Carolina, they reply that we are a can-do state, a manufacturing state, and that we are responsive to the needs of the business community. People come to South Carolina from outside of our state and they are simply blown away. The only people who are critical of our state are us, and we need to change our attitude about ourselves.
4. Palmetto Partners
The Department of Commerce and other lead selling agencies (S.C. Parks, Recreation and Tourism and S.C. Ports Authority) teamed up to launch Palmetto Partners to support a simple goal: Create a unique, globally recognized image for South Carolina. So far, they have done a great job. Hitt showed a preview video to the SCEDA audience, and without giving anything away, the video’s main theme was how South Carolina is a state of mind, both friendly and unpretentious. In essence, “South Carolina is just right.” Hitt encourages all of us to think through what makes us special, because what makes us special is what makes us win.
