EDC President Ted Clem: It's Every Business Leaders' Job to Sell Albany
Sunday, January 8th, 2012
On Dec. 20, the Albany-Dougherty Economic Development Commission announced Equinox Chemical plans to expand its operations in Albany, adding 46 jobs by June 2012 and investing $1.5 million in a new facility in Pecan Grove Industrial Park.
The announcement capped a year of increased activity from companies interested in locating or expanding operations in Albany, according to Ted Clem, CEcD, president of the commission. Based on October data, the number of active projects in the pipeline at the commission in 2011 was double that of 2010.
"A lot of companies are interested in investing in the area but have been hesitant to commit in the past couple of years," Clem said. "Based on the activity we've seen in 2011, we are very hopeful for a very good 2012."
The commission works to foster new business investment and job creation in the area. Its efforts include recruitment of new industry as well as retention and expansion of industries already operating in Albany-Dougherty County.
What was the biggest win at the commission in 2011? In addition to Equinox, Clem cites UniFirst®, a leading supplier of uniforms, workwear and related products to businesses, which bought an Albany-based business a couple of years ago. In 2011, Unifirst decided to consolidate its Georgia, Florida and Alabama operations in one location and chose Albany.
"The consolidation brought 40 new jobs to the Albany area. More importantly, it kept in the area a company that is looking for other opportunities to expand," he said.
A Focus on Retailing
According to Clem, the commission focused a great deal of its effort in 2011 on attracting retail activity to the area. Albany already has a strong base and serves as the retail hub for a 17-county area. Retail efforts have focused on national chains of both merchandise retailers and restaurants that are underrepresented in the area.
"We work with city and county leaders and the Albany Area Chamber of Commerce to set priorities. Retail was seen as a high priority because it helps stabilize the tax base and boost the local economy," Clem explained.
Most notable in 2011 was the opening of a Wal-Mart Supercenter in April. The downtown area has also seen significant new retail activity.
The Financing Hurdle
One of the major obstacles to attracting new industry has been the lack of available financing not just in Albany, but throughout the U.S. As companies look to invest in new facilities, funding from banks and private equity sources has been limited.
"The capital markets have had no appetite for the projects that many companies want to do. It's much more difficult to get funding than in the past and that's true everywhere," Clem said.
"It's a national issue. If the economy is going to grow, we need to get available capital into the hands of businesses that are looking to expand or invest."
Favorably Impressed with the Community
Clem believes many residents of Albany might be surprised with the impression that people have of the community. He believes the community tends to be its own worst critic.
"I had a prospect visit me a couple of weeks ago. He drove from Atlanta, through Columbus and then to Albany and came straight to my office. He started the conversation by saying this is the cleanest, prettiest city he had ever been to."
Clem looks to the new mayor to be the top salesperson for the community. Dorothy Hubbard ran her campaign on an economic development platform. Asked what he needs from the mayor to be successful at the commission, Clem replied, "We need a strong and vocal advocate for Albany."
And his message to the business community? "It's everybody's job to sell Albany."
More information on the Albany-Dougherty Economic Development Commission and its services is available at www.choosealbany.com.
