Lowcountry Economic Network Monthly Report

Lowcountry News

5/22/2008 10:57:00 AM

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Lowcountry Economic Network Monthly Report
The four counties comprising the Lowcountry region have recognized for several years that they would do well to adhere to the old axiom; a rising tide lifts all boats, in terms of economic growth strategies. In November of 2007 Beaufort and Jasper Counties made the decision to move forward with a formal alliance agreement officially creating the Lowcountry Economic Alliance. Our vision is for Hampton and Colleton Counties to join at some point in the future, and the lines of communication are open.

The Lowcountry Economic Alliance was created by a six-member steering committee formed to establish the governing structure of the organization and jump-start a regional vision for economic development activity. The Alliance will formally announce its Board of Directors at the end of June.

Regionalism is not a new concept as it forms the basis of our mission to focus more broadly on the value of the entire region rather than a specific county, municipality or site. We recently changed our name from the Greater Beaufort/Hilton Head Economic Partnership to the Lowcountry Economic Network to better reflect that mission. Together, Beaufort and Jasper Counties bring greater diversity of product and a larger labor pool from which prospective businesses may choose than either could do on its own. Visiting prospects do not ask to see one site, they ask to see multiple sites throughout the Lowcountry region. The more comprehensive an inventory we have to offer, the more likely we are to find a property that will fit the need.

Beaufort and Jasper Counties each possess unique communities, product and qualities. This product depth and variety, wrapped in the Lowcountry's quality of life is what sets us apart from the rest of the country. While this is obvious to those of us who live and work here, we need to do a better job marketing our region to the rest of the business world. Drawing that picture with an aggressive marketing effort will be the Lowcountry Economic Alliance's primary goal in its first year.

The Alliance has been officially formed by both counties and holds monthly meetings to create by-laws, plan initiatives and raise private resources to launch an aggressive marketing strategy.

The mission of the Alliance is to competitively position and market the South Carolina Lowcountry Region to attract global business investment. The vision is a diversified Lowcountry economy positioned attract new businesses and create jobs paying above the average State wage level.

In the last State legislative session, proviso language was created listing all the existing economic development alliances across the state, giving them access to marketing dollars allocated in the South Carolina Department of Commerce budget. Because the Lowcountry Economic Alliance was created after that language was drafted, we are not presently recognized as an eligible entity to apply for those marketing dollars. However, we respectively requested this session to be added to the proviso language so that we may also apply for alliance marketing dollars just as all other alliances may currently do across the state. We will keep you informed of our progress.

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