Those factors have been at the root of economic success since the industrial age started. However, the priority ranking of factors has changed to fit the need of the time. Economic development professionals agree that a key factor in today s industry attraction race is labor. The first thing prospective business or industry executives ask when considering a community for location is show us the people . Thus, the new economic ranking of important factors in community economic growth is labor, capital, land and management.
Labor is hard to find, thus ranks as a top consideration among companies that plan to relocate.
Money, land and management are relatively easy to find in today s progressive business environment. Communities that grow must have labor available for use in business and industry. That, of course, is a key challenge in Spencer County and its communities. The majority of Spencer County residents work somewhere else. Essentially, establishing a Spencer County economic growth pattern that will foster jobs in the county will determine the financial health of Spencer County s future.