Mark Farris, the Greenville Area Development Corporation’s (GADC) new president and CEO, was introduced to economic development as a young Clemson University graduate student interning with Anderson County.
While still at Clemson, Farris became the director of economic development for York County, where he announced more than $4 billion in new investment over 28 years.
In July, Farris was selected to lead the GADC after a nationwide search generated over 300 applications. He started in his new role at GADC on Sept. 15, and sat down with the Upstate Business Journal last week to discuss the new position and what steered him to Greenville County.
What was your impression of Greenville from the outside?
I saw a prosperous community with a significant manufacturing presence. I knew Greenville’s economic development programs produced a lot of project announcements and had been successful in the past. Greenville is a model community and had a positive impression on me.
What mistakes did you make in your previous job that you wouldn’t want to repeat as leader of the GADC?
We didn’t do enough internal marketing as a department of York County. We didn’t spend a lot of time letting people know what we were doing, and I want to make sure we do more of that here. Our primary goal is external marketing and working with international and national companies to make them aware of Greenville’s unique strengths and opportunities, but it is also important to let the community and its elected officials know that we are a team and we are working together.
What was the GADC doing – or not doing – that will change now that you are on the job?
We developed a cost-benefit analysis program in York County, and although they are using a similar program here, it is more of a matrix. We developed an Excel spreadsheet that looks at all the costs associated with a company coming in. Essentially, I would like to add the Excel spreadsheet to the existing matrix here so that all interested parties could see a legible bottom line and the return on investment in a deal.
What can the GADC do to lure Charlotte companies to Greenville?
It is important to focus on our assets rather than our deficiencies. Greenville has a high quality of life, it’s close to the mountains, it’s free of the traffic issues associated with larger cities such as Atlanta or Charlotte, it has a strong link between area schools and workforce development, and the cost of operation is cheaper here. Of course, I will use the contacts I have in Charlotte’s development community to spread the word about Greenville’s unique opportunities.
How important are real estate developers to attracting new business?
They are critically important. While in York County, 70 percent of my projects came to me from Charlotte brokers or developers. Although some deals are consultant-driven, a lot of them are development-driven. In fact, real estate developers are often the first to know about a potential project, and in York, that is primarily how they came to us.
How important are spec buildings to attracting new business?
While working in York County, we kept a running tally of company requests and found that 90 percent of them were looking for existing buildings. A lot of that could be attributed to the struggling economy in 2009 when companies were consolidating and spaces became available at cheaper rates. Although much of that inventory is gone now, companies still want existing buildings to eliminate risk. Established infrastructure eliminates risk.
How can the GADC provide the necessary tools and support to retain existing businesses?
We were the first organization to hire an existing industry person full-time in York County, and my objective was to ensure our companies did not become someone else’s prospects. In fact, 70 percent of investment normally comes from existing industry expansion. Having those relationships is critical and I want to make sure we do that here. We need to be aware of our existing companies and be advocates for them.
