Paraphrasing the old pop song, Cook County’s future is so bright, you have to wear shades.
“We’re excited about what is happening in the community,” said Cook County Economic Development Director Lisa Collins. “We see that the economic development momentum is growing.”
Custom Ag Formulators, the first industry to locate in the South Cook Industrial Park, is close to opening, she said.
Meanwhile, she is working with three active company prospects that are considering locating in this community. They would have a total capital investment of $133 million and create a total of 165 jobs. She said it should be known whether two of the prospects will locate here by the end of 2016 and the other within 18 months.
She also noted the increased retail development that is occurring with the new Walmart Supercenter drawing more businesses to Adel.
“One of the Economic Development Commission’s goals this year was to focus more on providing information and services to existing businesses,” she said. “We understand 85 percent of growth comes from businesses that are already in a community. We would like to see existing companies expand and create more jobs.”
The EDC recently held a breakfast during which a state economic development official spoke to representatives of existing industries and businesses about tax incentives and credits given by the State of Georgia for creating new jobs and capital investment.
At this point, the EDC is working with three local industries that are hoping to expand. For example, one industry is planning to add nine to 10 jobs for an expansion, and then close to double that job growth within 24 months.
The improvement in the local employment picture is reflected in the preliminary May 2016 unemployment rate (based upon the latest figures available), which decreased to 4.8 percent, according to the Georgia Department of Labor. Cook County’s unemployment rate for May 2016 was close to or less than the rates in surrounding counties: Tift, 4.7 percent; Berrien, 5.5 percent; Lowndes, 4.7 percent; Brooks, 4.7 percent; and Colquitt, 4.8 percent.
The local jobless rate has improved significantly from July 2014, when it was 11.2 percent. At the time, Cook’s rate was higher than in any surrounding county. At the height of the Great Recession, which began in 2008, the local jobless rate reached more than 14 percent.
The EDC plans to hold two more breakfast seminars. The first seminar will be “Exporting 101,” Ms. Collins said. “We believe there are opportunities for local companies to export their products.” The third seminar will be on the CTAE school program in which students work hands-on at jobs and learn what they want to pursue as careers. Cook High School’s CTAE program has agreed to work more closely with industries to address their needs for a future workforce, Ms. Collins said.
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