MEDIA
HADCO Sets Sights on 2021 and Beyond
Like so many, the team at Huntington Area Development Council (HADCO) continues to adapt to our new normal in the face of the Covid-19 Pandemic and resulting economic crisis. HADCO has worked continuously, since the outbreak, to combat the economic downturn in our community. Our directive has been simple; adapt for success, not survival. At every stage of this crisis, we have asked how we can position ourselves and our business community to make it through this pandemic and thrive? How can we ensure that we come back better than before when we reach the end of this crisis? In 2020 we find ourselves in entirely new territory. Still, we are hopeful that the resiliency we exhibit now will only make us stronger and set us up for future success as an organization and as a community.
Adapting to the Pandemic
In response to the global pandemic, HADCO has refocused its programs and services. Economic Development in 2020 has meant less time on the road marketing and more time working one-on-one with area businesses. The retention and continued operations of local employers has become our top priority. Our business community has faced unprecedented challenges in recent months, and HADCO has been here for all of it, ready to deploy resources. Business to business marketing and supplier solutions has become an integral part of our pandemic response. We also continue to connect companies with a myriad of state and federal financial resources to compensate for increased operating expenses and depleted capital budgets. We are helping to foster reshore opportunities for businesses right here in our community. Information about HADCO’s innovative Business Retention and Expansion Program and Covid-19 response efforts can be viewed on HADCO’s Beyond the Crisis webinar found here.
Leading the Business Community
Amid this crisis, HADCO has stepped up and expanded its role as a leader in the region and broader business community. We have taken on direct leadership roles at partner agencies such as the West Virginia Economic Development Council and Huntington Tri-State Airport. We have also increased support efforts as active members of the Polymer Alliance Zone, Region II Workforce Investment Board, and Downtown Huntington Partners, as well as being strategic advisors to the Brad D. Smith Business Incubator at Marshall University. Most notably, as of July 1, 2020, HADCO has taken on the Wayne County Economic Development Authority’s administrative duties. Wayne County plays a vital role in the region’s economic vitality, with an eclectic mix of supported industries and investment opportunities ranging from heavy manufacturing to transportation to tourism. HADCO has invested heavily in industrial site development in Wayne County over the years, and we continue that great work today as administrators of the county’s economic development program.
Vision 2021
Looking forward to 2021, we foresee many changes in the economic landscape. Covid-19 has accelerated some important trends impacting how businesses operate and intensifying the need for smart and responsive economic development. If the pandemic has taught us anything, it's that to succeed, businesses have to be given the tools to be adaptive and flexible. Responsive permitting and zoning and adaptive regulatory policies need to be implemented at the local level for businesses to operate. Technology and innovation do not stop at technical industry sectors. Technology is transforming every industry sector. To compete, our business community must embrace innovation to foster greater production efficiencies and reach customers at the speed and simplicity that the market demands. Finally, our office is placing a much larger emphasis on economic diversification and helping our existing industries diversify products and services, target markets, and supplier networks. Our businesses need to be as nimble and adaptive as the markets around them, and HADCO hopes to play a much larger role in helping our companies meet these challenges in 2021 and beyond.