In the Summer of 2016, the city of Georgetown Economic Development Department retained Avalanche Consulting to conduct a workforce analysis to determine the supply, demand, and gap of workers and skill sets. This information is necessary to position Georgetown to compete in the global economy. Short term business recruiting goals can be set to maximize the areas current talent pool while implementing training and recruiting of workers for future business recruitment goals. The analysis of Georgetown’s workforce identified two distinct but overlapping labor sheds. The southern labor shed is five times larger than the northern and consist of software/IT as its most concentrated and fastest growing sector. The northern labor shed is dominated by locally serving industries such as construction, health care, and retail. Together, these two labor sheds extend from south Austin to Temple alongside IH35 and encompass more than 700,000 relatively young and well-educated workers.
Identifying and recruiting “target” industries allow us to maximize our competitive strengths by focusing on industries that best match those strengths. This does not mean that all other businesses will be ignored as investments and programs designed for target industries will benefit and attract all sectors.
The City of Georgetown Economic Development Department is in the process of developing a strategic plan. During the 2017/2018 fiscal year, we will meet with Georgetown citizens, organizations, and other City departments to gather input for this process.
The city of Georgetown and the Georgetown Economic Development Corporation (GEDCO) partnered with Catalyst Commercial to conduct a retail study for a Retail Strategy and Recruitment Plan (or Retail Merchandising Plan) customized for Georgetown. The purpose of this study was to develop a comprehensive strategy to enhance the City’s tax base by increasing opportunities for retail businesses, and create a more diversified retail environment in Georgetown. In addition, the City’s Economic Development Department will use this plan to recruit and retain retail businesses to Georgetown.
At the end of each year, the economic development department host a symposium at the Sheraton Hotel and Conference Center. We invite a nationally recognized speaker to present on a timely and economic development relevant topic. In addition to the keynote speaker, city staff presents on milestones, major projects, and other Georgetown information. Click here for a look at past symposiums.