58 Inc. managing director explains goals for county, cities

When Yvonne Murray tells people she works in economic development, most people don’t understand the full scope of that task, she said.

“When people ask me what I do for a living, if you have ever watched ‘Friends,’ I am Chandler. People do not understand what I do for the most part, until we get to layman terms and examples of how it matters in their life,” Murray told the Greater Shelby Chamber of Commerce.

Murray, the managing director for 58 Inc., was the keynote speaker at the chamber’s March 21 luncheon, where she filled chamber members in on what they do at 58 Inc., which is the county’s new economic development initiative.

In a county with about 2.5 percent unemployment, a dedicated focus on economic development is important, Murray said, as it helps hone in on the best and most effective use of county, city and business resources.

“While that looks like a fantastic [unemployment] number and a fantastic measure of health of our county and of our state, that’s a problem because our workforce is very low,” Murray said. “That means if you’re not working right now, you’re probably not looking. And if you’re not looking, you probably don’t want to work.”

Workforce is an “imminent issue,” Murray said, and they need to show individuals — including prisoners re-entering the population and single mothers who have not previously considered working — why they should enter or re-enter the workforce.

Larger employers, including Polaris and Mazda, are coming to the state. While it seems good to have more jobs available, Murray said it also means workers will be “poached” from their current jobs with small businesses.

“While that’s attractive to add these thousands and thousands of jobs, it’s not sustainable for a small business to lose that volume all at once,” Murray said.  

This is set to continue as an issue as the population grows and the market becomes more saturated with jobs, Murray said.

In addition to the number of available workers, Murray said it is also important to make sure that the workforce has the proper skills. By 2020, only 35 percent of the workforce will need a bachelor’s degree — a larger percentage than needs one now, but still not much, Murray said.

People want their kids to go to college and get a degree, she said, but that is not always the best option.

“We’re sending them to school to get a degree that they might not be able to use, and they’re going to have debt when they come out. Realistically, our job is to reshift that focus and teach people that you can send your kid to go to a workforce program that allows them to get a certificate,” Murray said, which lead to jobs with viable, sustainable positions with a living wage.

Outside of workforce, 58 Inc. also works in business recruitment. Shelby County is fortunate have access to multiple forms of transportation — rail, air and interstates — as well as a diverse workforce and good location, Murray said. It can be targeted in multiple sectors, ranging from bioscience to aerospace/ aviation to agricultural products/ food production based on qualities specified by Accelerate Alabama, she added.

“So in terms of recruiting, our targeted areas are really limitless,” Murray said. “Our [58 Inc.] board is being really intentional, and they’re initiating a strategic planning process to kind of guide where we’re focusing.”

This will be determined by the best fit for the county, she said. An example Murray gave was a data center. This could go on a 100-acre tract of land, and bring in about 150 jobs, but end up having a multi-million dollar impact. Focusing on strategizing resources, she said, is key in these decisions.

“So how do we now start to intentionally plan our time and our resources to put those things into our cities and benefit the communities?” Murray said, citing the importance of bringing broadband to some communities in the county.

As they work toward economic development goals for municipalities and the county as a whole, Murray said they will use data to determine where resources are needed and where businesses fit best. They will also work to educate business and municipal communities on what incentives are offered for economic development, and they will partner with groups to promote the best decisions for the county and cities, Murray said.

For more information on 58 Inc., go to 58inc.org.