Each year, 2,000 company locations are opened nationwide, making the competition for those businesses competitive.
That was what John Reid, of the Reid Group, economic development consultants, told those attending Thursday’s quarterly meeting of Enid Regional Development Alliance.
Reid gave a presentation on what companies look for when considering locations and what communities need to do. He said Enid already has done most of the things he recommends.
“Companies will not locate or expand in areas that are not growing,” he said.
One of the top requirements of companies looking for a place to relocate or expand today is quality of life, Reid said. Is the community a town with good health care, good schools and a place people want to live?
Other factors include the cost of doing business, the employment rate and quality of prospective employees. Also, communities need to prove the locations they offer fit the industry and consider whether the industry they are recruiting can serve its market from there.
“You should reassess what you are doing every year and adapt. See what has been causing your population’s growth,” Reid said.
Among trends affecting recruiting, the new normal is gradual improvement, he said. Some communities no longer target businesses, but have begun targeting talent and entrepreneurs.
“Keep putting Enid out there, put yourself in front of them,” Reid said. He made the comment while discussing web presence and other ways to keep the community noticed. “Enid has very aggressive leadership now, let’s use them.”
Reid said a community must have some type of incentive plan.
He complimented Enid Regional Development Alliance for being active and doing the things that must be done.
Prior to Reid’s talk, Jimmy Stallings, chairman of the ERDA board, said Enid has a work force recruitment problem. With a low unemployment rate, he said, there are jobs businesses locally are unable to fill.
Some economic indicators provided by the ERDA showed:
• Population growth of 6.5 percent from 2005 to 2010.
• Current unemployment rate at 3.9 percent.
• Year-over-year retail sales, as of October 2011, were up 8.32 percent.
• Work force growth from 2000 to 2010 was 15.7 percent
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