Monday, April 18, 2011

Foreign Investment

“We’re beginning to see light at the end of the tunnel.”
Evan King, Mayor of Adairsville, Georgia

The World Comes to Small Town America
Here’s a twist. Instead of sending jobs out of the country, small towns are figuring out ways to bring foreign companies into their communities. In Missouri, a Canadian steel company capitalized on the state’s central location, great workforce, and over $800,000 in state incentives and set up shop in the little town of Glasgow (population 1,189). It’ll start with 25-30 employees and max out at 109. That’ll help whittle away at Glasgow’s 7.5 percent unemployment rate.

And Adairsville, Georgia (population 3,076) has gone global to fill its industrial park. It’s hooked a carpet company from Australia and three Japanese firms. The town has even attracted a metal company from California, which the Adairsville mayor quips is like a foreign country, so they’re counting that one, too. The mayor says some of these companies are buying up older, distressed properties, and so no new construction will be needed for a while. With an employment rate of 12.9 percent, the town has an ample supply of ready and willing workers to fill the jobs.


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