SBDC: Local economic environment largely improved in 2015

During its annual meeting, the Springfield Business Development Corp. yesterday pointed to a mostly improved economic environment in 2015.

The economic development arm of the Springfield Area Chamber of Commerce played a pivotal role in 10 projects that collectively are bringing 516 new jobs, $22.7 million in payroll additions and $59.2 million in projected capital investment. The SBDC works to attract and retain businesses, typically by partnering with other organizations to offer economic incentives.

Comparatively, during last year’s annual meeting, the SBDC said it participated in 10 projects during 2014 that represented 227 new jobs, $7.4 million in new payroll and estimated capital investments of $109.5 million.

"The thrust has been on attracting new companies,” said Ryan Mooney, the chamber’s senior vice president of economic development.

Projects included:
    •    St. Paul, Minn.-based political communication and fundraising company FLS Connect LLC’s December lease of 8,800 square feet at 3300 S. National Ave, Ste. 500, in Kelly Plaza, which created 200 jobs;
    •    a September opening for the new $3.5 million headquarters of Do Outdoors Inc., the parent of Lew's Fishing Tackle and Sportsmans Factory Outlet; and
    •    Hazelwood-based tired distributor Community Wholesale Tire Inc.’s $2.9 million purchase in May of a speculative building in North Creek Business Park, with plans to invest $4.3 million and hire 20.

At the meeting at University Plaza Convention Center, Mooney said the chamber and SBDC have focused on gaining “collective intelligence from the business community” to further improve economic development in the region.

"The No. 1 need is workforce development. That's what companies are telling us,” he said, noting the community’s talent pipeline is a top priority.

During 2015, the SBDC participated in the launch of the Greater Ozarks Centers for Advanced Professional Studies, which connects students with employers, and talent-attraction initiatives targeting the information technology and engineering industries.

"It looks like there are some folks here trying to move the ball forward,” said meeting keynote speaker Charlie Cook, Washington, D.C.-based editor and publisher of The Cook Political Report and political analyst for the National Journal Group.