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The Importance of Business Expansion and Retention in Spartanburg County

Carter Smith Reflects on Spartanburg's Business Expansion Climate

Published Tuesday, October 15, 2019 9:30 am

https://scedablog.wordpress.com/2019/10/02/the-importance-of-business-expansion-and-retention/

From a post authored by Carter Smith, former Executive Vice President of the Spartanburg Economic Futures Group, shared by the S.C. Economic Developers' Association 

In Spartanburg, we know business expansion is a vital sign of a healthy economy.

It speaks to business attitude and climate, offering proof positive that companies are willing to be here, and to stay here and grow while making a profit. Expansions reinforce that business owners found they can succeed in Spartanburg and continue to reinvest in the area with the goal of hiring more people and being able to increase wages or quality of life.

From our perspective as economic development professionals, there’s more success, percentage wise, with business expansion because they’re here and they know us. Those business representatives know they can be successful here, and there’s an existing, open channel of communication.

Capital investment brings in revenue for local government to provide adequate services to the community, making the impact of economic development expansions wider reaching than just a business or group of employees. High-paying jobs add to the quality of life in Spartanburg while keeping talented workers here and supporting a thriving innovation culture.

Dwayne Hatchett is our director of existing industry, and his role has been critical to the economic well-being of Spartanburg since it was launched. Dwayne has helped us identify expansion opportunities and the things we could do to help that business fulfill that opportunity. It has also helped us develop closer relationships with the businesses that do expand in Spartanburg, solidifying their investment here.

Business expansion ultimately should be the goal of every area with a growing economy. It means keeping business owners there and successful, providing job opportunities and additional investment, which spreads out farther than just the manufacturing plant or office space.

“An invaluable tool to help entrepreneurs and businesses launch, build, expand, and reorganize”
Spark Center SC
“More than 2.5 Million Square Feet of New Industrial Space Available Now”
Spartanburg County Economic Development
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