Strategic Plan- Goal 1


Goal 1:

Encourage sustainable economic growth through new businesses and expansions to achieve tax base diversification and career paths into middle income (defined as $50,000 annually) through targeted recruitment of businesses in technology, knowledge management, advanced manufacturing and emerging sectors.

Lead Parties: Stephen Murray, Bill Prokop

Staff Assigned: Linda Roper, David Prichard

Rational

Increasing the focus on economic development by encouraging sustainable economic growth and partnerships through business workforce development and diversification will create jobs that enable and encourage the private sector to create well‐paid, career oriented, positions. Using strategies for infrastructure, maximizing use of appropriate city‐owned properties, focusing on promising growth sectors, and expanding desired economic activity will positively impact our tax base and improve revenue for the City.


Measures of Success

1. Four (4) new business startups located in the Beaufort Digital Corridor (BDC)

Target Date: 12/31/20


2. 100 new well‐paying ($15‐$20/hour minimum) jobs created in the city.

Target Date: 6/30/20


3. One (1) startup from BDC progressed to larger, in‐City location and increased number of employees.

Target Date: 12/31/19


4. Road and infrastructure projects completed in the Commerce Park.

Target Date: 12/31/19


5. Two (2) new businesses recruited into Commerce Park.

Target Date: 6/30/20


6. Encourage USCB Beaufort campus expansions to exceed 300 undergraduate and graduate students.

Target Date: 6/30/21


7. Host one technology industry conference in the City to encourage relocation.

Target Date: 12/31/20


8. Build 50,000 sq. ft. spec building in Commerce.

Target Date: 12/31/20


9. Data collection of key economic indicators established for the City.

Target Date: 6/30/20


10. Review and update all small business start‐up requirements for permits, licenses, fees, and training needs. Goal to have approval within 30 days.

Target Date: 12/31/19


Objectives

1. Expand collaboration and look for opportunities to support expansion with the University of South Carolina Beaufort and the Technical College of the Low Country.


2. Expand collaboration with the business community to identify opportunities for expansion, cooperative programs and new ventures.


3. Develop a marketing scope, leveraging contemporary methods and techniques to market Beaufort as a locality that welcomes technology innovators.


4. Develop a local incentives package (permitting, tax abatement, private incentives from communication/utility companies) targeting startups, business expansion and relocating companies, predominately in the technology, knowledge management, advanced manufacturing and emerging sectors.


5. Continue connecting the Beaufort Digital Corridor with local stakeholders:

  • Continue support of Code Camp and other educational program
  • Restructure BDC agreement to more equitable partnership.

6. Develop 500 Carteret

  • Consider up‐fits to parts of the building not renovated
  • Evaluate benefit/cost of “Launchpad” for foreign firms.

7. Develop the Commerce Park

  • Review Palmetto Sites reports and work on recommendations such as covenants, wetlands delineation, etc.
  • Complete fiber loop install
  • Work with BCEDC and County to build spec building
  • Re‐request tax credit support from Dominion and others for improvements
  • Analyze park boundaries and surrounding properties for possible inclusion and/or completion of the park.

8. Target technology and advanced manufacturing sectors (including Aerospace & Automotive) in partnership with the Beaufort County Economic Development Corporation (BCEDC) and Southern Carolina Alliance.


9. Advantage existing businesses for their commitment to Beaufort

  • Continue to review the permitting process to reduce unnecessary regulatory requirements, when identified
  • Continue to review and implement adding license and permitting functions to the City website.

10. Convene a City Business Roundtable in Fall 2019.


11. Work with DMO to better align and integrate our economic development messaging with our tourism marketing.