dr. michael toma: building a roadmap to live, work, play in liberty

Liberty County stands at a critical juncture, where opportunities to enhance economic prosperity are abundant but require careful planning and deliberate action. The latest analysis of economic trends, outlined in my December 9 report to the Liberty County Development Authority (LCDA) board, underscores both progress made and areas demanding renewed focus. To secure long-term economic vitality, Liberty County must prioritize economic development that creates high-quality jobs, improves local amenities, and strengthens fiscal sustainability. Strategic efforts in Liberty County are already yielding dividends. From population growth to expanding employment opportunities, the county is moving in the right direction. However, to sustain this momentum, there must be more opportunities for residents to live, work and thrive within the county.

Strategic industry recruitment

I understand anecdotally that recent expansion of local retail is attracting dollars from outside of the county, which is a great advancement. Generally manufacturing, unlike retail - which is vital for community attractiveness but more reliant on the recycling of existing local incomes - introduces new money into the local economy. Attracting manufacturers yields cascading benefits, including higher wages, secondary job creation, increased retail options and sales and improved housing aligned with income growth. For instance, the recent investment by Hyundai created a local supply chain that included the location of Seohan in Liberty County's Tradeport East. Illustrating the transformative potential of industrial development, such ventures enhance the quality of retail and entertainment options as the new payroll dollars surge through the economy.

Economic development as a catalyst for progress

At its best, economic development is not just about attracting businesses - it's also about creating a virtuous cycle of prosperity. By injecting new income into the county through highwage manufacturing jobs and advanced industries, Liberty County can reduce the $1.2 billion in annual income leakage caused by commuting workers. These efforts will not only diversify the economic base but also ease the financial strain on households falling below the ALICE (Asset Limited, Income Constrained, Employed) threshold, which affects nearly half of Georgia's population, and 45% of households in Liberty County.

Overcoming challenges in economic development Economic development is a long-term process that demands perseverance, strategic focus, and community collaboration. It is also expensive and fiercely competitive. Every community in the country is competing for the same higher value jobs and investment.

LCDA's strategic planning and its focus on ready sites, skilled labor, and strategic incentives demonstrates its preparedness to meet challenges head-on. Furthermore, its commitment to quantifiable outcomes and policy-driven deployment of resources reflects best practices in modern economic development.

A better future for all residents

With thoughtful planning, Liberty County will continue to improve the quality of life for residents. A thriving economy not only boosts the tax base but also keeps residential property taxes lower, providing tangible benefits to all community members.

As a professional economist and an advocate for regional development, I am encouraged to see LCDA's commitment to creating a sustainable and thriving economic future for its residents. The strategic planning now underway is a testament to the Authority's dedication to building a better Liberty County for future generations. As the plan takes shape, I am confident it will create a robust foundation for sustained prosperity. I look forward to following your progress and celebrating your successes.

Michael Toma is the Fuller E. Callaway Professor of Economics at Georgia Southern University.

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