Last month, I discussed the vital role that Business Retention and Expansion (BRE) visits play for Green County Development Corporation (GCDC). This month, I want to expand on that by sharing our findings from these visits and their implications for our county’s economic growth.
What is BRE?
As a quick recap, our BRE program is designed to offer proactive support for our existing businesses. Unlike attracting new businesses, which is costly and uncertain, BRE focuses on growing businesses who are already contributing to our local economy.
Key Findings from Recent BRE Visits:
Over the past few months, we, along with our local partners, have visited 48 local businesses to better understand the current business climate and identify how we can offer support. Here are the key highlights:
● Business Growth: 46% of businesses that were visited are “growing,” and 27% are “maturing.” This indicates that there is stability in many local companies along with the potential for further expansion.
● Investment and Automation: 59% of businesses have plans for significant investments over the next three years. Many of these investments are for adopting automation to boost efficiency. This automation will not reduce the number of jobs; rather, it will enhance the skills of the workforce.
● Workforce Challenges: Many businesses are continuing to struggle to find skilled workers, especially in maintenance, engineering, and healthcare. Addressing this shortage is still a top priority for businesses.
● Shifting Demographics: 73% of businesses have noted an increase in the Latino workforce, which presents opportunities for adaptation and reaching diverse customer bases.
● Quality of Life: 59% of businesses are focusing on improving quality of life, highlighting the importance of work-life balance for attracting and retaining employees. This also includes focuses on areas such as childcare, housing and broadband to create an environment where people want to live and work.
Areas of Focus for GCDC:
As I mentioned earlier, these BRE visits are an essential part of the work we do at GCDC. The visits give us direction and insight into where challenges are most prevalent when working to grow Green County’s economy. Based on the findings we will focus on:
● Workforce Development: We want to work with local partners and business to close skill gaps and attracting top talent to meet the needs of local businesses.
● Business Support: We will continue to provide resources and assistance to help growing companies overcome challenges like access to capital and infrastructure.
● Building a Diverse Talent Pipeline: We will work to support our growing minority populations to create a more inclusive and vibrant community. This will also help to address the workforce shortages that we face.
● Quality of Life: We will continue to work with local communities to enhance community well-being to attract businesses and residents. This will include addressing issues such as broadband, childcare, and housing.
Our business retention visits are crucial for understanding the needs of local businesses and guiding our future development efforts. By addressing challenges and seizing opportunities, we aim to drive sustainable economic growth in Green County.
For more information about our initiatives, please visit Green County Development Corporation or contact us at (608) 328-9452 or gcdc@
greencountydevelopment.com.
— Olivia Otte is the Executive Director of the Green County Development Corporation (GCDC). She can be reached at Olivia@greencountydevelopment.com, or by calling 608-328-9452.
