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The Private Sector Factor

Posted February 26, 2008

It is always good to look at things from the outside. I will be posting comments from guests covering various topics over the life of the Blog. Today, we will hear the thoughts of Hal Johnson, President and CEO of the Upstate Alliance.

Today’s dynamic economy and political landscape, it is vastly important for economic development offices to have the support of the private sector. The private sector brings an expertise into the mix that an economic development professional needs to add value to the sales process. Sometimes it can be what makes or breaks a project from landing in a community. Economic Development today can not happen without the assistance from the partnership built by the private and public sector.

For example, when a company from outside the United States is looking in the Upstate it is important for allies in the private sector to be ready to assist the Economic Development professional on questions concerning immigration, incorporating a business in SC, and construction issues. An Economic Development professional has answers, but the private sector lives and breathes these issues so they can bring a depth of expertise to the process that has come to be expected by the prospective business.

Involving the private sector is also about leveraging resources – combining public and private sector dollars. Let’s be honest; the public sector can only go so far in supporting an Economic Development office, but in today’s world there are over 10,000 Economic Development offices competing and the more resources or tools a Economic Development office has, the more successful a community will be. It is vital for an Economic Development office to team up with the private sector to make the community better and quite honestly more unique. At the end of the day, it is a win-win for everyone.

At the Upstate Alliance, we always say that Economic Development is about 3 things - People. Place. Promise.



It takes people to make a place prosper. For continued success, we must plan for the future. When a private sector partner decides to assist an economic development office, they are investing in the future of our community to make it a better place. To succeed in an increasingly competitive global marketplace, a community must work together to diversify and build its economy. In order to keep pace with an ever changing business world, we must look at what we can do today to make an impact on tomorrow. As a private sector supporter of economic development, you share a long term commitment and promise in building a prosperous and diverse business environment not just for your success but for the region. Remember – “rising tides float all ships.”

Keep in mind economic development is a team sport and it is all about competing for new business investment in this global market. In our Upstate region the team consists of: the Upstate Alliance, the County Economic Development Offices, Chambers of Commerce, Workforce Boards/Agencies, the SC State Department of Commerce and the private sector. It takes all of the players on the team working towards the same goal to be successful in Economic Development.

Economic Development offices across the state need more help from its’ private sector partners whether it is giving financially, providing in-kind services, or becoming a leader in the economic development organization. In today’s global economy there is fierce competition for new business investment, it is important for the private sector to step-up support for Economic Development. In 2008, let’s all strive to work together more closely in the economic development process and commit to making the Upstate the greatest region in the world.