A — January 31 - February 13, 2014 — Economic Development — Mid Atlantic Real Estate Journal
www.marejournal.com
E conomic D evelopment
By Jon Scott, The Greater Reading Economic Partnership Economic development trends in Greater Reading
T
he Greater Reading Economic Partnership (GREP) is tasked with
with 16 new and expanding companies in the region. These companies contributed
total square feet leased or sold in Berks County. The good news is that many
lenging news. We are search- ing more diligently than ever to locate appropriate space for businesses to locate and grow. We are currently work- ing with a developer to bring a new industrial park on line in 2014 that would provide over 2 million square feet of new industrial and ware- house space. In terms of industry, manu- facturing continues to be one of our strongest business clusters. Eight of the sixteen new and expanding compa- nies are manufacturers. We continue to see the trend of
small, high-growth, manufac- turers in the region. In fact, in 2013, 78% of the leads and prospects we interacted with were in the manufacturing industry. This is compared to 53% in 2012 — a 25% in- crease. In 2012 we formally began to focus evenmore on working with existing Berks business- es in an effort to support them so they not only stay in our region, but also grow right here in our own backyard. This strategy has proven to be extremely successful. In fact, we now spend 50% of our time and resources on working with existing businesses. A high percentage of our job growth numbers con- tinue to be generated by our expanding local companies. Based upon the success of this strategy, we plan to stay focused on supporting our lo- cal companies in 2014. As a result of our focus on existing Greater Reading companies, we have been able to identify common “points of concern.” The top issue continues to be workforce related. Nearly half or 47% of the companies we have met with in 2012 and 2013—over 100 to date—have identified the lack of necessary skills in the applicant pool as a major workforce challenge. 26% of those companies identified the lack of technical skills more specifically. While Berks has been able to boast a highly-skilled work- force, this workforce is aging and nearing retirement. We heard companies tell us di- rectly about the disconnect between available jobs and job seeker-skill sets. As a result, we initiated an aggressive marketing campaign called Careers in 2 Years – a cam- paign designed to drive more people to consider trades and technical education. 2013 was a year of success and challenges. Our work is not done, and in 2014 the Greater Reading Economic Partnership team will con- tinue to work to grow our region so it can be something greater. Jon Scott is president and CEO of the Greater Reading Economic Part- nership. n
attracting, r e t a i n i n g and growing business by fostering and coordinating economic de- velopment in Berks Coun- ty. 2013 proved
In June 2004, Jon Scott was named President and CEO of Berks Economic Partnership. Jon continues to serve as the Co-Chair for the Ride to Prosperity which was unveiled in June of 2010, and serves as the economic development roadmap for the Greater Reading region.
Jon Scott
to be an outstanding year for job attraction, retention and growth in the Berks County region. To date, we have worked
to over 1,350 new or retained jobs, $21.2 million in capital investment and over 800,000
of the vacant industrial spac- es in Berks County are being occupied. It’s also the chal-
Why TAB Industries is all wrapped up with Greater Reading.
TAB Industries discovered more in Greater Reading than just an affordable, strategic location in southeastern Pennsylvania. They found easy access—to a labor pool with a strong work ethic, desirable transportation routes and an abundance of valuable, competent fabrication providers. In Greater Reading, TAB Industries found a dynamic community where they can expand and achieve great things.
Be something greater.
Discover greater possibilities. Visit GreaterReading.com.
GreaterReading.com s (610) 376.4237
Made with FlippingBook - Online Brochure Maker