Greenville officials release economic development strategy.

A new forward-looking strategic plan released by the Greenville Area Development Corp. showcases how the organization plans to continue focus efforts and maximize return on investment for the long run in the Greenville community.

Mark Farris, Greenville Area Development Corporation CEO, announced another exceptionally strong year in 2022 for economic development in the city, which is also referred to as "the business heartbeat of the Palmetto State," according to a GADC news release. The exercise of developing the GADC's first-ever formal strategic economic development plan was both timely and healthy, he said.

The industries that chose to locate to or expand in Greenville County are diverse, with 13 of 22 announcements being in GADC's core target industries, and 15 of them in manufacturing verticals, which are a historical strength for the county, to include a strong response from automotive, life sciences, and office/headquarters industries, which "helps to provide a varied economy that is robust and multi-faceted, said Farris in the release.

Combined, the organizations represent $468 million in new capital investment to enhance the tax base in addition to 2,326 new jobs the strongest year since 2016to keep Greenville's economy booming, the release said.

The $468 million in new capital investment ranks third highest ever for the county's new investment portfolio, trailing behind years 2020 and 2014. This achievement pushed the GADC's five-year new investment capital to $1.8 billion, and its new job creation efforts to more than 9,000. Cumulative job announcements by the GADC since its founding 22 years ago now total more than 34,600, according to the release.

"It's a testament to the work of so many people that Greenville, despite the global challenges of Covid, inflation, workforce challenges and hyper-competition, continues to be such an attractive and appealing destination for organizations the world over to want to live in and conduct business from," said Farris in the release. "I couldn't be prouder of our team, our Board and our Investors and allies, and the year's results speak for themselves. This is a continuation of a remarkable run for Greenville County economic development."

The capital investment showcases Greenville's economic vitality, diversity, and tax base, and with the announced jobs and mean wages well above both county and state averages, there is a positive future for this city, said Farris in the release.

"Raising...