News from Boyette Strategic Advisors

Being prepared

Florence, AL – 11/21/2007

The Shoals has been selected as one of three Tennessee Valley communities to participate in a TVA-funded study that identifies economic development strengths and weaknesses.

This community has enjoyed some significant successes recruiting major employers in the past four years that have helped replace manufacturing jobs lost to national economic changes. Now, Shoals economic development and elected officials will have an opportunity to get a detailed look at what makes the community attractive to employers and what isn’t so attractive.

The Tennessee Valley Authority has selected Colbert and Lauderdale counties to take part in an in-depth study that will, among other things, help identify the industries most suited to local labor skills. The Targeted and Prepared Community program, launched by TVA in 2006, pairs the community with a national consulting company to prepare a long-range economic development strategy. This includes public meetings to gather ideas and suggestions from the entire community.

The study, which will be conducted by Boyette Levy, presents an excellent opportunity for local leaders to examine what’s working for them and what remains to be done – especially to create a more diverse employment base. The industries that have located here in the past four to five years – SCA Tissue, Walgreens call center, North American Lighting and now National Alabama railcar manufacturing – provide several thousand jobs that have helped replace those lost at Ford Motor Co., Reynolds/Wise Metals and TVA through the years. What’s missing, however, are jobs for college-educated 20-somethings and 30-somethings. The Shoals has been suffering an exodus of young people for years that makes the community unappealing to some segments of the work force – and possibly to new employers.

One of the most important aspects of this study will be indentifying where our weaknesses lie and then deciding whether to adopt a plan to combat them or whether to remain focused on our strengths and play solely toward them in recruitment efforts. With a four-year university and a two-year community college in our community, we hope recruitment efforts will include efforts to retain graduates of those schools.

The Shoals Economic Development Authority led the effort to be included in the TVA-sponsored study and its board deserves credit for the community’s inclusion. But there are many others in the community who wrote letters of recommendation that no doubt helped sway TVA’s decision. These are people who believe in the Shoals’ potential and who want to see more economic growth. We applaud them, and we encourage the public to be prepared to offer suggestions when the study, which should be complete in October, gets under way.