Download presentation
Presentation is loading. Please wait.
1
Economic Development Strategic Plan
November 1, 2017
2
Strategic Plan Overview
SWOT Analysis Community Input (300+) Community Survey Business Survey Interviews Steering Committee Research Best Practices Strategic Plan Implementation Strategic Plan Overview
3
SWOT Analysis Strengths S Weaknesses W Opportunities O Threats T
4
Economic & Demographic Profile
Growing more than twice as fast as the county, region, and state More prime working age people, 25-54, and more older people, 75+ Educated, high income population population Homes are affordable Labor force is growing, unemployment declining Largest employment sectors: Trade, Transportation, and Utilities, Leisure and Hospitality, Professional and Business Services, Education and Health Services, and Manufacturing Highest paying wage sectors: Manufacturing ($1,096), Information ($1,047), Financial Activities ($1,008), and Construction ($935) 81.1% of businesses employ less than 10 people More than half commute 30 minutes or more
5
Best Practice Towns Monks Corner Tega Cay
6
Goals, Strategies & Action Steps
7
Goal: Plan for Sustainable Development
Strategy: Regional Planning Update town plans Master plan Comprehensive plan Capital improvement plan Advocate transportation improvements Remain active in regional planning
8
Goal: Plan for Sustainable Development
Strategy: Enhance Chapin’s Appearance through Beautification Programs Visually set the town apart with public art Maximum zoning enforcement Partner with civic clubs to adopt areas for beautification Wayfinding signage Walking tours with kiosks
9
Goal: Diversify the Economic Base
Strategy: Support Small Businesses Raise awareness of Small Business Development Center Chapin satellite office Seek grant funding to seed revolving loan fund
10
Goal: Diversify the Economic Base
Strategy: Encourage Entrepreneurial Development Explore small business/arts incubator/co-work space Artist entrepreneurs Present starting a business to dislocated nuclear facility workers Add “How to Start a Business” to the town’s website Consider becoming a Certified Entrepreneurial Community®
11
Goal: Diversify the Economic Base
Strategy: Downtown Development Expand footprint to create a central downtown business district Identify & market vacant and underutilized lots & buildings Identify near by business that would be willing to expand to a location in Chapin Create incentives that encourage development in downtown Seek historic designation for downtown
12
Goal: Diversify the Economic Base
Strategy: Actively Market the Chapin Business and Technology Park Break out business site map to make it more prominent for showcase
13
Goal: Diversify the Economic Base
Strategy: Business Friendly Climate Conduct customer service training with all town staff Communications & Economic Development Director as business concierge Conduct business climate surveys every two years
14
Goal: Fund Strategic Public Investments
Strategy: Create a Value Proposition for Annexation Reach out to partners to explore a study the will analyze the benefits of annexation Seek partners in communities that would have a desire to be annexed Identify and learn form other SC towns best practices
15
Goal: Fund Strategic Public Investments
Strategy: Enact a Hospitality Tax Seek the enactment of a hospitality tax Strategy: Seek Investment from Santee Cooper and SCE&G Request an economic development grant from Santee Cooper and or SCE&G
16
Goal: Implement a Comprehensive Economic Development Program
Strategy: Staffing Model that will Support Implementation of Strategic Plan Add a town position for Marketing and Events Strategy: Create a Public-Private Partnership Create a private nonprofit organization that provides additional funding
17
Strategy: Retain and Grow Existing Businesses
Goal: Implement a Comprehensive Economic Development Program Strategy: Retain and Grow Existing Businesses Create a business retention and expansion program
18
Strategy: Institutionalize Strategic Planning
Goal: Implement a Comprehensive Economic Development Program Strategy: Institutionalize Strategic Planning Present an annual economic development report to town council Review and update the economic development strategic plan every year Comprehensive strategic plan update every 3-5 years
19
Strategy: Implement the Chapin Brand Identity: Capital of Lake Murray
Goal: Promote Chapin as a Choice Location for Residents, Businesses, & Visitors Strategy: Implement the Chapin Brand Identity: Capital of Lake Murray Encourage partners to use the Chapin brand Use the brand on banners, wayfinding signs and all marketing and promotions
20
Strategy: Use the Website as a Marketing Tool
Goal: Promote Chapin as a Choice Location for Residents, Businesses, & Visitors Strategy: Use the Website as a Marketing Tool Create a website for economic development or a site within the town website Update information on the website
21
Crystal Morphis, Founder and CEO www. creativeedc. com www
Crystal Morphis, Founder and CEO
Similar presentations
© 2025 SlidePlayer.com. Inc.
All rights reserved.