COMMENTARY — LEDC president/CEO says ‘diversification is the road to recovery’

By JIM GARTIN
President/CEO
Lenawee Economic Development Corporation

I am approaching my one-year anniversary as the President and CEO of the Lenawee Economic Development Corporation. It has been a very challenging but very rewarding time to be in Lenawee County. From the downs, watching Lenawee loose three of its major manufacturing businesses to the highs of seeing the community rally around the One Lenawee concept.

The major things I have learned over the last year are what an incredible opportunity Lenawee has in the New Economy. We have a strong manufacturing based workforce, excellent physical facilities and organizations with a strong commitment to making the upcoming change a positive one for Lenawee County.

Organizations like South Central Michigan Works! (SCMW), Small Business, Technology Development Corporation (SBTDC), Michigan Manufacturing Technology Center (MMTC) and our State partners at the Michigan Economic Development Corporation (MEDC) have all committed time and resources in helping Lenawee County businesses succeed.

These organizations coupled with our local partners at the area Chambers of Commerce, Lenawee Conference and Visitors Bureau and our incredible education partners make for a powerful team in addressing our economic recovery.

Our educational partners need to be recognized for the incredible foundation they provide for our community. Starting with our area schools and the Lenawee ISD, they are providing the foundation for our future workforce; The LISD’s programs in chemical, advanced manufacturing CAD Design, and Technology/ITT support are all leading edge and the basis for future jobs. Jackson Community College offers the next line of education and training, preparing students for jobs in the New Economy and Entrepreneurial training.

Our higher education partners at Siena Heights University and Adrian College are meeting the challenges for four-year New Economy opportunities. Siena’s new Nursing program and Adrian Colleges new Entrepreneurial Institute are exciting new programs that show both institutions are addressing the needs of today and tomorrow.

All of these factors are imperative, good planning and collaboration but the real bottom line is how do we create new opportunities for our existing businesses. So many of Lenawee’s employers are tied to the automotive sector and it is clear that this sector will never return to what it was. Automotive will continue to be an important part of Lenawee County and Michigan’s economy but we must diversify to survive!  

The State of Michigan has focused their development focus on the following industry sectors, Wing/Green Technology, Aero-Space/Aeronautics, Medical devices and Defense, which are all industries that need products manufactured. Someone has to make the components for wind generation, solar/ photovoltaic, medical devices and a hundred other components that will be required for the New Economy.

Diversification is key for local manufacturers to grow, knowing the automotive market and the parts and components you supply is critical but where else can you use those same skill sets to broaden your customer base.

It is no different than the service or retail sectors, trends and time will change your direction and if you continue to provide old and outdated products, consumers will find someone else to meet their needs. Understanding a business’s core competencies and learning how those skills can be applied to other industry sectors will be critical for survival in the upcoming new economy.

The LEDC in conjunction with our partners have Diversification training programs, SWOT teams of retired executives who can help determine a company’s core competencies and help them identify new opportunities and on site staff to help businesses through the process.

Diversification will be the difference between those companies thriving in the New Economy and those that choose to stay the current course.