Roane County Industry Survey Shows Sales & Global Market Increases
Wednesday September 03, 2008
More Roane County industries are reporting increased sales than they were two years ago, according to an existing industry report released today by The Roane Alliance - while half of the industries surveyed say their company's primary market has become international.
The survey - which was conducted in late 2007 - updates similar information gathered by The Roane Alliance two years ago. The survey was conducted in partnership with the Tennessee Valley Authority. The visits and surveys were conducted by a team of volunteers working under the leadership of Vicki Watts and Jennifer Palmer, co-chairs of the Roane County Chamber of Commerce's Economic and Community Development committee.
The campaign was geared toward getting a current snapshot of the health and needs of Roane County's economic portfolio. Over the last several months, the volunteers met with company officials in teams to learn more about their companies; the trends in their industries; how they felt about the community as a place to do business, and many other issues.
"This report shows that Roane County industries are doing well and more than half of them are planning expansions, even as they are reflecting some caution about the timing," said Leslie Henderson, President and CEO of The Roane Alliance. "Bottom line is that our manufacturing sector in Roane County is strong, healthy and growing - especially into the international marketplace."
In the report just released, 83% of the industries participating in the survey reported increased sales, up from 79% in 2006. The largest jump, however, was seen in the percentage of companies who reported now being involved in the global marketplace. Two years ago, only 20% of Roane industries surveyed reported doing business internationally. This year that number jumped to 50%.
Meanwhile, although more than half of the industries surveyed said expansions were in the works, that number was significantly lower than the survey two years ago (80% reported expansion plans in 2006) - a finding that may reflect increased caution due to the economic forecasts at the time.
Other survey findings include:
75% of the industries surveyed reported plans for new products or services
The expansion plans reported by 58% of the respondents would create 235 new jobs and add over $30 million in new investment to Roane County.
Watts said that the information gathered in the visits by her committee "will help give us a better foundation for making economic development and program decisions, while giving more information to decision-makers in our community."
For example, according to data in the report, Roane County compares favorably to both regional as well as national data in workforce quality and stability, but the county's industrial sector is showing significant concerns about workforce availability.
"This information is important to us so that we can know what our industries need in order to be successful," Henderson said. Some of these concerns are already being addressed, she said, as The Roane Alliance plans to hire a staff person whose primary function will be education and workforce development.
"Nothing is more important to Roane County's economic health than the industries that are operating here now, generating payroll, local spending, and taxes," said Palmer. "Since 80 percent of the new jobs created today come from existing industries, information like this is invaluable to help us be able to help those industries become even more successful."
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