Job creators come up short

Declining economy dooms plans of economic development group
By Darrell Hughes - dhughes@thesunnews.com

The Myrtle Beach Regional Economic Development Corp. didn't come close to meeting its job creation and company investment goals for the year - mostly because of the lagging economy.

The development corporation reported in its annual report for 2007-2008 that it helped create 135 jobs, with $13.1 million in capital investments from companies locating or expanding along the Grand Strand.

The group initially set out to create 300 jobs, with $60 million in capital investments in 2007-2008.

"This is what we were shooting for, and sometimes you fall short of goals," said Hugh Owens, the corporation's president and chief executive. "We're certainly not satisfied, and we're going to continue to work to increase our performance."

Owens said the corporation's goals were further snagged by "a couple of projects that were put on hold."

"While we're still being considered for those, the economy has caused some of our projects to slow down," he said.

There are some factors influencing economic development that leaders can't predict, such as the slow economy and the pace at which businesses choose to expand or relocate, said Brant Branham, chairman of the economic development corporation.

"We will continue to be aggressive and work hard," he said, pointing out that economic development efforts are likely to pay off once more building space and industrial parks become available, which could help lure companies to the region. More here.