Major shifts in the global economy and how those shifts have altered corporate priorities are at the heart of the Upstate SC Alliance’s new strategic plan, which was unveiled to community partners and stakeholders Oct. 6.
The plan seeks to address six major trends that are reshaping the economic development landscape:
- Industry 4.0 is fundamentally shifting the nature of manufacturing. It is being driven by increased automation, cloud computing and data management, and increased digital connectivity, among others.
- Environmental, Social and Governance issues are increasing corporate priorities, along with an increased emphasis on diversity and inclusion.
- Workforce development and recruitment have become critical needs in corporate growth and success.
- Regional growth puts pressure on community assets and infrastructure and poses a range of challenges on how to accommodate that growth.
- The means of communicating with companies and stakeholders are changing rapidly, and economic developers must adapt to remain effective.
- Continuous change in the global economy and markets is inevitable, and economic developers must remain adaptable.
John Lummus, president and CEO of Upstate SC Alliance, said work is already underway to implement the strategic plan. The alliance, which is a regional economic development organization representing the 10 counties of the Upstate, will continue to use data analytics to measure success and increase efforts to recruit and retain both companies and talent to the region.
