1. Economic Development Strategic Plan
November 1, 2017

2. Strategic Plan Overview
SWOT Analysis
Community Input (300+)
Community Survey
Business Survey
Interviews
Steering Committee
Research
Best Practices
Strategic Plan
Implementation
Strategic Plan Overview

3. SWOT Analysis
Strengths S
Weaknesses W
Opportunities O
Threats T

4. Economic & Demographic Profile
Growing more than twice as fast as the county, region, and state
More prime working age people, 25-54, and more older people, 75+
Educated, high income population population
Homes are affordable
Labor force is growing, unemployment declining
Largest employment sectors: Trade, Transportation, and Utilities, Leisure and Hospitality, Professional and Business Services, Education and Health Services, and Manufacturing
Highest paying wage sectors: Manufacturing ($1,096), Information ($1,047), Financial Activities ($1,008), and Construction ($935)
81.1% of businesses employ less than 10 people
More than half commute 30 minutes or more

5. Best Practice Towns
Monks Corner
Tega Cay

6. Goals, Strategies & Action Steps

7. Goal: Plan for Sustainable Development
Strategy: Regional Planning
Update town plans
Master plan
Comprehensive plan
Capital improvement plan
Advocate transportation improvements
Remain active in regional planning

8. Goal: Plan for Sustainable Development
Strategy: Enhance Chapin’s Appearance through Beautification Programs
Visually set the town apart with public art
Maximum zoning enforcement
Partner with civic clubs to adopt areas for beautification
Wayfinding signage
Walking tours with kiosks

9. Goal: Diversify the Economic Base
Strategy: Support Small Businesses
Raise awareness of Small Business Development Center
Chapin satellite office
Seek grant funding to seed revolving loan fund

10. Goal: Diversify the Economic Base
Strategy: Encourage Entrepreneurial Development
Explore small business/arts incubator/co-work space
Artist entrepreneurs
Present starting a business to dislocated nuclear facility workers
Add “How to Start a Business” to the town’s website
Consider becoming a Certified Entrepreneurial Community®

11. Goal: Diversify the Economic Base
Strategy: Downtown Development
Expand footprint to create a central downtown business district
Identify & market vacant and underutilized lots & buildings
Identify near by business that would be willing to expand to a location in Chapin
Create incentives that encourage development in downtown
Seek historic designation for downtown

12. Goal: Diversify the Economic Base
Strategy: Actively Market the Chapin Business and Technology Park
Break out business site map to make it more prominent for showcase

13. Goal: Diversify the Economic Base
Strategy: Business Friendly Climate
Conduct customer service training with all town staff
Communications & Economic Development Director as business concierge
Conduct business climate surveys every two years

14. Goal: Fund Strategic Public Investments
Strategy: Create a Value Proposition for Annexation
Reach out to partners to explore a study the will analyze the benefits of annexation
Seek partners in communities that would have a desire to be annexed
Identify and learn form other SC towns best practices

15. Goal: Fund Strategic Public Investments
Strategy: Enact a Hospitality Tax
Seek the enactment of a hospitality tax
Strategy: Seek Investment from Santee Cooper and SCE&G
Request an economic development grant from Santee Cooper and or SCE&G

16. Goal: Implement a Comprehensive Economic Development Program
Strategy: Staffing Model that will Support Implementation of Strategic Plan
Add a town position for Marketing and Events
Strategy: Create a Public-Private Partnership
Create a private nonprofit organization that provides additional funding

17. Strategy: Retain and Grow Existing Businesses
Goal: Implement a Comprehensive Economic Development Program
Strategy: Retain and Grow Existing Businesses
Create a business retention and expansion program

18. Strategy: Institutionalize Strategic Planning
Goal: Implement a Comprehensive Economic Development Program
Strategy: Institutionalize Strategic Planning
Present an annual economic development report to town council
Review and update the economic development strategic plan every year
Comprehensive strategic plan update every 3-5 years

19. Strategy: Implement the Chapin Brand Identity: Capital of Lake Murray
Goal: Promote Chapin as a Choice Location for Residents, Businesses, & Visitors
Strategy: Implement the Chapin Brand Identity: Capital of Lake Murray
Encourage partners to use the Chapin brand
Use the brand on banners, wayfinding signs and all marketing and promotions

20. Strategy: Use the Website as a Marketing Tool
Goal: Promote Chapin as a Choice Location for Residents, Businesses, & Visitors
Strategy: Use the Website as a Marketing Tool
Create a website for economic development or a site within the town website
Update information on the website

21. Crystal Morphis, Founder and CEO www. creativeedc. com www
Crystal Morphis, Founder and CEO