Why do companies relocate to another community? We at the Copperas Cove EDC have to be able to accurately answer that question because a part of our mission is to attract investors and employers to our community. And then we have to make sure we prepare ourselves and the community for the business relocation opportunities that will come our way. Some of those opportunities we create; some are created for us by others.
If you are the owner or operator of a small to medium size company from outside this area looking to relocate, Copperas Cove will score high as you make your assessment. You will be assured that what we offer compared to what you need will convince you that Copperas Cove sits at the top of your “most desirable places” list.
For many years those who work in and around the economic development industry have offered their list of factors regarding what matters most to a company when it decides to move some or all of its operations to another location. Not surprisingly, at least to me, the list has changed very little over the last 25 plus years.
The number one reason on most lists has been and continues to be access to a better and/or larger labor pool. Copperas Cove rates very high because of, among other things, Fort Hood’s presence in our region, Central Texas College and Texas A&M Central Texas. Whether the company is concerned about quality or quantity, Copperas Cove meets and exceeds the work force needs of most companies.
Next on most lists is a company’s need to acquire more room. Once a company decides their current facility no longer has enough space for them to do the things they need to do they start looking around. Again, Copperas Cove has a large advantage over many other communities. Thanks to the past actions of the Copperas Cove Board of Directors as well as the City, we now have or will soon have sites that can accommodate the types of businesses that will bring quality jobs and substantial private investment with them.
Right behind a company’s need to acquire more room is the fact that when companies decide to relocate they must have concrete evidence that they will lower their operating costs. While this is number 3 on the list, it often is a deal breaker if the numbers do not make sense. Companies look at costs such as labor, average salaries, benefits, workers comp rates and unemployment insurance payments. It also considers onerous regulations and high local tax rates. Based on how we rank in the region or state; I believe we are stronger than many other communities. While our costs may be high in some categories, we score very well in many others. We strike a very strong balance.
Believe it or not, most privately held companies still put a lot of value on a community’s “quality of life”. A certain community could very well be the personal choice of the owner or operator of the company. I have many stories on this subject; just ask me. Or it may be that the company’s management team has determined that the company, by being in a certain community, can better attract employees that also place a high value on where they live, work and play. Copperas Cove, known as “The City Built for Family Living”, has always scored very well in the “quality of life” category. We should never underestimate the value of the lifestyle we enjoy in this great community.
Some economic development entities take a look at what is important to a company seeking to relocate and then tend to over complicate their business attraction strategies. Often they complicate the strategy to the point that they drive away clients. They produce and send out huge amounts of statistics on all kinds of subjects. They depend heavily on what is the theme of the moment and weigh their websites down with meaningless details that make eyes glaze over.
The Copperas Cove EDC prefers to do it the old fashion way. We reach out to clients on a personal level. We like to invite potential investors to our community so they can see what we see. We believe that when we market our community on a very human level, our clients will focus on what is important to them but also take into consideration what is important to us.
Take care and Happy Thanksgiving!!!
Polo Enriquez
Executive Director
Copperas Cove Economic Development Corporation