58 Inc. representatives share plans for economic development

In the approximately seven months since 58 Inc. was established and announced its new director, the economic development initiative has “hit the ground running,” managing director Yvonne Murray told the South Shelby Chamber of Commerce.

At the chamber’s June 14 luncheon at Columbiana First Baptist Church, Murray and Director of Development Melody Whitten shared some of the steps 58 Inc. has taken and projects it has in the works.

“The best example of what an economic developer is, is we’re a gardener,” Murray said. “In that, you have to know certain rules of our economy — our economy is our garden.”

Just as a gardener must know its climate zone to know what will flourish, Murray said, 58 Inc. must know what will succeed in Shelby County. The sites and potential business locations are the county’s soil, she continued, and cultivating business will also take time, just as a gardener needs to “water long and slow.”

Carrying through with the garden metaphor, Murray said one of their current projects is like irrigation for the county — broadband.

“The average person looks at broadband and thinks, ‘this is how fast my internet at home is. This is how fast I can stream something or upload something to the internet.’ But above and beyond that, this means a lot of services,” Murray said.

These services can come through education by providing resources that connect students to people internationally, further preparing them for the workforce. Or it can come through safety by enhancing communication throughout the county, she said, as well as through telehealth.

From an economic development standpoint, broadband is necessary to attract companies to the area.

“When we are recruiting projects to this region, broadband is like water,” she said.

58 Inc. is currently working with mayors across the county, as well as other groups, to address the broadband need in some of Shelby County’s more rural locations.

The initiative is also focusing on recruiting retail, Whitten said, which is an important part of a city’s economy.

“Most municipalities depend on sales tax revenue to be between 50-70 percent of their budget,” Whitten said, adding that is why municipalities “chase” retail development.

As they move forward with economic development goals, Whitten said there is a lot of data they need to know and be cognizant of. Retailers have set standards for their areas they are considering, including demographic parameters, population size, household income requirements and others. Being aware of those needs and being aware of what Shelby County and its cities have to offer, Whitten said, helps create credibility in working with retailers.

58 Inc. will work with mayors to become aware of those data points as well as to determine which sites they have and which retailers might be interested in those sites, Whitten said, while continuing to build the relationships necessary to attract more retail.

They are also implementing new means of workforce development, including an apprenticeship program for CNC machinists.

“With a county that is boasting a little bit over 2 percent unemployment, the concern we hear is workforce — there are companies with job openings they can’t fill, there are companies that have skill sets they can’t get, either out of their existing employee base or the employees that are interviewing for positions with them,” she said. “So it’s a challenge.”

To combat those challenges, 58 Inc. worked to enter a partnership with Lawson State Community College that will provide training and classes to individuals looking to pursue a career as a CNC machinist. About 10 students have applied to enroll, Whitten said.

While that might seem like a small number at this time, it opens the door for other potential apprenticeship programs that would likewise provide job training, skills needed in the Shelby County workforce and better opportunities for residents.

“We’re trying to not only impact the lives of our citizens, but also create a pipeline because those companies need those skill sets,” Whitten said.