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Phase 1: Competitive Assessment PHASE 1: COMPETITIVE ASSESSMENT Submitted by Market Street Services Inc. www.marketstreetservices.com July 2015 Competitive Assessment July 2015 Competitive Assessment TABLE OF CONTENTS Introduction ..................................................................................................................................................................................... 1 Steering Committee ...................................................................................................................................................................... 2 Project Overview ............................................................................................................................................................................ 3 Competitive Assessment.............................................................................................................................................................. 4 1. Population Trends: Slow Growth and Limited In-Migration ........................................................................ 5 2. A Critical Need for Top Talent ........................................................................................................................... 11 3. Economic Realities ................................................................................................................................................. 17 4. Income and Poverty .............................................................................................................................................. 22 5. Quality of Place and Quality of Life .................................................................................................................. 26 6. Homegrown Talent: PK-12 and Higher Education....................................................................................... 37 7. Business and Entrepreneurial Climate ............................................................................................................. 46 8. Fort Benning: A Vital Asset ................................................................................................................................. 50 9. Philanthropy, Leadership, and Champions .................................................................................................... 51 Conclusion..................................................................................................................................................................................... 53 Appendix A: Community Scorecards .................................................................................................................................... 54 Endnotes ........................................................................................................................................................................................ 65 July 2015 Competitive Assessment July 2015 Competitive Assessment INTRODUCTION Less than two generations ago, Greater Columbus was a mill town with a tenuous future in a globalizing economy. In the decades since, it has undergone a remarkable transition into a hub of insurance and other services and a home to companies with international renown and influence. But just as the community has changed, so too has the world. Competition has increased, markets are more interconnected, and knowledge and skilled workers are highly coveted. At the same time, it has also become clear that not all of the region’s residents have benefitted from its past successes. Too many local residents live in poverty, with limited economic options and uncertain futures. Greater Columbus must once again adapt. To that end, a group of public, private, and non-profit leaders have come together to launch a comprehensive effort to raise levels of prosperity in Greater Columbus. The process will result in a holistic and comprehensive community and economic development strategy that addresses the full range of factors that influence a region’s prosperity – from its talent and economic structure to its quality of life and place. This Competitive Assessment represents the critical first step in that process. It examines a wide variety of demographic, socioeconomic, economic, and quality of life indicators to tell a story about the community and uncover the key strengths, weaknesses, assets, and challenges that must be leveraged and addressed in order to raise levels of prosperity in the region. It is built upon an in-depth quantitative analysis and a significant amount of community input derived from focus groups, interviews, and an online survey that received 1,760 responses from area residents, workers, and business leaders. This information has been woven into nine key stories that present a narrative discussion of the key issues facing Greater Columbus. These nine stories are: 1. Population Trends: Slow Growth and Limited In-Migration 2. A Critical Need for Top Talent 3. Economic Realities 4. Income and Poverty 5. Quality of Place and Quality of Life 6. Homegrown Talent: PK-12 and Higher Education 7. Business and Entrepreneurial Climate 8. Fort Benning: A Vital Asset 9. Philanthropy, Leadership, and Champions Supplementing these storylines is a series of scorecards that evaluate the region’s competitiveness in five key areas: economic performance, workforce sustainability, business environment, innovation and entrepreneurship, and quality of life. These scorecards can be found in Appendix A at the back of this assessment. When relevant, specific findings from these scorecards are included in the narrative portion of the assessment. Page 1 – July 2015 Competitive Assessment STEERING COMMITTEE Committee tri-chairs are shown in bold. Name Title/Role; Organization Mr. Brian Anderson President & CEO; Greater Columbus Chamber of Commerce Mr. John Anker President & CEO; Ankerpak Mr. Cameron Bean Executive Director; Columbus Symphony Orchestra Mr. Richard Bishop Executive Director; Uptown Columbus Inc. Mr. Billy Blanchard President & CEO; Columbus Bank and Trust Mr. Peter Bowden President & CEO; Columbus Convention and Visitors Bureau Mr. Mike Burns Special Assistant to Commanding General; Fort Benning Mr. Russ Carreker President & CEO; Day 6 Outdoors Ms. Betsy Covington President & CEO; Community Foundation of the Chattahoochee Valley, Inc. Mr. Jason Cuevas West Region Vice President; Georgia Power Ms. Patti Cullen Executive Director; River Valley Regional Commission Mr. Steve Davis President; Columbus Water Works Col. Pat Donahoe Chief of Staff; Fort Benning Dr. Jimmy Elder Pastor; First Baptist Church Mr. Scott Ferguson President; United Way of the Chattahoochee Valley Pastor Johnny Flakes, III Pastor; Fourth Street Missionary Baptist Church Dr. Tom Hackett Provost and Vice President for Academic Affairs; Columbus State University Mr. Cedric Hill CEO & Owner; People’s Funeral Services of Columbus, Inc. Mr. Scott Hill President & CEO; Columbus Regional Healthcare System Ms. Lorette Hoover President; Columbus Technical College Mr. Isaiah Hugley City Manager; Columbus Consolidated Government Ms. Anne King Executive Director; Midtown, Inc. Mr. Harry Lange Chairman; Harris County Commission Dr. David Lewis Superintendent; Muscogee County School District Ms. Jacki Lowe Retired; West Region Vice President, Georgia Power Ms. Marquette McKnight CEO; Media Marketing… and More! Inc Mr. Marc Olivie President & CEO; WC Bradley/Arts Mr. Chuck Rossi President; Liberty Utilities Ms. Becky Rumer Senior Director - Corporate and Community Affairs; Synovus Ms. Jane Seckinger President & CEO; Goodwill Ms. Audrey Tillman, Esq. Executive Vice President, General Counsel; Aflac Hon. Teresa Tomlinson Mayor; Columbus Consolidated Government Hon. Rob Varner Chairman; MCSD Board of Education Dr. David White Vice-Chancellor; Troy University Phenix City Campus Ms. Johniqua Williams Student Development Specialist- Diversity; Columbus State University Mr. Troy Woods President & CEO; TSYS Mr. Jimmy Yancey Retired; Chairman, Synovous Page 2 – July 2015 Competitive Assessment PROJECT OVERVIEW The four-phase research and strategic planning process will last roughly nine months, concluding in February 2016. A diverse Steering Committee comprised of representatives from the public, private, and non-profit sectors will guide this process and ensure that it lays a foundation that allows people and businesses to thrive and wealth to accumulate. Phase 1: Competitive Assessment The Competitive Assessment answers the question: “How is Greater Columbus doing?” Market Street developed original quantitative and qualitative research and conducted public input – in the form of focus groups, interviews, and an online survey – to evaluate the community’s competitiveness as a place to live, work, visit, and do business. The findings are integrated into key “stories” facing Greater Columbus as it seeks to grow and expand its economy and increase levels of prosperity and the quality of life for its current and future residents. The community’s competitiveness is benchmarked against communities with which Greater Columbus competes for both jobs and workers. Phase 2: Target Business Analysis and Marketing Review The Target Business Analysis will identify those business sectors that will drive future growth and opportunity in Greater Columbus. Market Street will conduct a detailed examination of the region’s economic composition and identify the sectors that have the greatest potential to create new jobs and elevate standards of living in Greater Columbus. Because
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