Local Chamber News
Site Selection Releases Top 10 Economic Development Groups Article Today
Scranton, PA -
Site Selection magazine has released its May 2008 issue which includes an article identifying the Top 10 U.S. Economic Development Groups in which The Greater Scranton Chamber of Commerce receives top honors. The issue is available both in hard copy and online.
An excerpt from the article, entitled “Triumph of the Heartland” by Ron Starner, is included below.
The bright lights of the big cities may grab the attention of the major media, but when it comes to economic development, no one does it better than Middle America.
From the rolling hills of Scranton,Pa., to the riverboats of St. Louis, the iconic images of America's Heartland form the backdrop of the top-performing economic development organizations in the country. Their hometowns read like a Who's Who of Main Street America: Scranton, Tupelo, Lexington-Thomasville, Cincinnati, Pittsburgh, Akron, Chicago, Sioux City, St. Louis and Greensboro.
Those 10 communities are the anchor cities of this year's Top Economic Development Groups. Every year, Site Selection selects the winning organizations based upon the following criteria: total capital investment; investment per capita; total jobs created; jobs created per capita; the contributions of the local or regional economic development organization toward the attainment of these numbers; overall economic vitality; depth and breadth of economic strength; diversity of industry; ability to generate breakthrough deals; and the ability to provide verifiable documentation for all projects.
The Conway Data New Plant Data- base supplies the data used by the editors to determine the winners. For a project to be counted, it must be corporate owned and occupied and represent at least $1 million of capital investment, the creation of at least 50 jobs or the addition of at least 20,000 sq. ft. (1,858 sq. m.).
The database tracks corporate and industrial space including headquarters, manufacturing plants, distribution warehouses, service centers, call centers and other related facilities. Hospitals, schools, restaurants, retail stores, churches, government buildings and other institutional projects are omitted.
Based upon the above criteria, the organizations doing the best job of economic development can be found in places that many overlook: the so-called Rust Belt and Deep South. But one thing is certain – corporate executives are not overlooking them.
Consider the stories of these winning groups for 2007 including the Greater Scranton Chamber of Commerce- Scranton, Pennsylvania- Austin Burke, President. www.scrantonplan.com
The fictional Dunder Mifflin Paper Co. may have put Scranton on the map of pop culture thanks to the hit NBC comedy The Office, but there's nothing fictitious about the corporate project activity occurring in Lackawanna County these days.
Thanks to the foresight of The Scranton Plan – the economic development arm of the Greater Scranton Chamber of Commerce – industry is flocking to Scranton these days faster than Steve Carell's Michael Scott character can call yet another meeting.
In 2007, the Scranton-Wilkes Barre metro area generated 14 corporate projects that added $446 million in capital investment and created 1,943 jobs. About 5 million sq. ft. (464,500 sq. m.) was announced as part of these deals.
More than half of that total came from two projects.Lowe's announced a 1.4-million-sq-ft. (130,060-sq.-m.) warehouse in Pittston, while Circuit City Stores announced a 1.27-million-sq.-ft. (117,983-sq.-m.) distribution center in Covington Township. Together, the investments total $149 million and add 700 jobs.
"Decades of preparation went into the success we experienced in 2007," says Austin Burke, president of the Greater Scranton Chamber. "Investments like these do not happen overnight. Three dates were very important. We formed the Scranton Lackawanna Industrial Building Company (SLIBCO) in 1913. The first Scranton Plan for economic development was put together in 1946. And then we did a new Scranton Plan in 1981 to form a marketing organization that would reach out to businesses."
The Scranton Plan, which has been recognized nationally for its effectiveness in marketing, has helped the community land a number of tenants for the facilities built by SLIBCO. Last year, SLIBCO secured 1,471 new jobs and $155 million in capital investment in Lackawanna County.
The breakthrough deal came from McLane Co., the nation's leading wholesale distributor of food and consumer packaged goods. McLane is moving into 420,000 sq. ft. (39,018 sq. m.) on 59 acres (24 hectares) in the Valley View Business Park in Jessup and creating 500 jobs.
To read the article in its entirety, visit www.site selection.com and click on “Top 10 Economic Development Groups of 2007.”
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Source: ACCE
Publication Date: May 22, 2008