Future-Ready
The Economic Strategy for Wayne County
Economic development in Wayne County is thriving, led by the initiatives of the Economic Development Corporation (EDC). Through various projects and partnerships, the EDC aims to foster an economically vibrant environment that benefits all residents.
Valerie Shaffer serves as the president of the Economic Development Corporation of Wayne County. This year marks her 20th anniversary with the EDC. She shared her dedication to community growth with Michael Allen on The Hub podcast earlier this year.
“The EDC has stayed true to its mission of primarily being focused on business development, so that’s through cultivating business retention, expansion opportunities, and also bringing in new businesses. That is the core of what we do,” stated Shaffer. “No matter where the company is located in the county, everyone has an opportunity to work there.
Recently, the Chamber of Commerce awarded the EDC as the “Nonprofit of the Year.” The EDC team includes Rhonda Fisher, Teresa Lindsay, Renee Doty, and Sarah Mitchell, bringing a wealth of passion to Wayne County.
Revitalization in Wayne County
The team at the Economic Development Corporation has played a crucial role in revitalizing Richmond's Depot District. They became the first tenants of the Depot building, which had been empty for decades; their decision to move their office to this historic train depot highlights their dedication to economic revitalization. When it comes to supporting smaller communities in Wayne County, the EDC is developing new initiatives to assist everyone in all areas.
“Over the years, we have broadened the definition of economic development. It is no longer just business development, it is quality of life and talent recruitment, and retention. You have to have all of those things to have a viable community,” said Shaffer.
The Future of Wayne County
Shaffer envisions a bustling downtown for Richmond, offering a range of amenities such as nightlife, family-friendly activities, diverse services, and restaurants. The redevelopment of the Elder Beerman building area, currently being transformed into a high-end apartment complex, is expected to bring this vision to life.
“You have to have residents to cultivate new businesses downtown. They’re a built-in customer base,” explained Shaffer. “We have to have adequate places for individuals to live, so right now, the housing accelerator program was just launched to help extend infrastructure to platted, unfinished subdivisions.”
Business Development in Wayne County
Last year, both Richmond Beverage Solutions and Trascendia undertook major expansion projects. Together, their efforts resulted in nearly $62 million in facility expansions, creating 95 new jobs. Blue Buffalo is nearing completion of a $220 million expansion. Anchor Ingredients has launched a new $40 million facility for processing pet food ingredients. Currently, Liberation Labs is expanding, and Menasha Packaging Company has invested approximately $66 million in its facilities. Additionally, Vandor Corporation has acquired the Wolverine Worldwide facility.
Talent Retention in Wayne County
Bridging the workforce skill gaps gives educational institutions like Ivy Tech a critical role in addressing these issues. The significance of strategic planning, political stability, and community feedback in shaping Wayne County’s future is essential.
A skills analysis will be conducted to identify the additional training and higher education needed in Wayne County. The analysis is designed to help the EDC understand the challenges employers are having.
Initiatives such as Make My Move and the Housing Accelerator Program are attracting new residents and supporting local employees. Currently, there are 24 participants in the Make My Move program, aiming to reach 30 by September 2025.
Listen to the The Hub with Michael Allen podcast, sponsored by Manpower Richmond, for more insights on economic development in Wayne County.
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