B U S I N E S S + C U LT U R E 47 Industry Retention and Expansion Vital for Economic Growth For the fifth consecutive year, Georgia has been named the No. 1 state in the nation to do business by Site Selection, a leading economic development trade magazine. As the economic development playing field continues to become more competitive, local economic development teams are not only vying for highly sought after new industry but also working to retain and expand existing businesses. In Valdosta and Lowndes County, existing industry expansion is the focus of the Business Retention Action Team (BRAT). Established in 2015 by the Valdosta-Lowndes County Development Authority (VLCDA), BRAT members represent community and state organizations that are committed to serving and strengthening local industries. “The main focus of BRAT is to keep businesses and jobs here in Lowndes County,” said Stan Crance, existing industry coordinator with VLCDA. “Through our BRAT membership, we work to connect the needs of existing industries with the right people.” According to the U.S. Bureau of Labor Statistics, approximately 60 percent of the private sector net new jobs are from existing establishments. “It is important to take care of what’s in your backyard,” Crance said. “Losing a large industry is devastating to the local workforce. We want to make sure they stay and succeed.” Similar to recruiting a new business, Crance said there is often substantial competition in securing the expansion of an existing industry. “If a national company is looking at expansion, they might have several locations where the expansion can take place,” said Crance, who previously worked for the University of Georgia Small Business Development Center at Valdosta Recruiting new businesses is a top priority in Georgia, and a job that the state does very well. B U S I N E S S + C U LT U R E 47 Construction on Hunt Industries’ 42,000-square-foot facility in Valdosta is expected to be completed in 2018 and will create 30 new jobs.