The Cornerstone Economic Development and Workforce Training Center is part of Midlands Technical College's campus in northeast Columbia. (Photo courtesy of the Columbia Area Development Partnership)
Still in its infancy, the Columbia Area Development Partnership — or CADP — officially launched in July, yet we are finding our stride as Richland County’s leading economic development entity
utilizing the public-private partnership model.
CADP is the latest former government agency to adopt this model that has been deployed successfully around the state by Greenville, Myrtle Beach, Florence, Laurens, Chester, and Sumter counties to effectively leverage collaboration and financing within the public and private sectors in an effort to grow and expand economic opportunities.
Harnessing the power of this model will drive opportunities and shape the future of not only the regions where it is deployed, but for the state of South Carolina as a whole.
In the few months that CADP has utilized the public-private partnership model, it is already producing results.
In early November, the partnership model was evident in the opening of the Cornerstone: Economic Development and Workforce Training Center on Midlands Technical College’s campus in northeast Columbia.
This state-of-the-art, 41,000-square-foot regional training facility is the result of a joint effort between key local and state government and educational partners: Richland County, state Department of Commerce, state Technical College System, its readySC division, and Midlands Technical College, facilitated by the leadership of CADP.
Public sector dollars paid for the creation of Cornerstone, and private sector investments will sustain it as companies pay to use this facility.
The Cornerstone concept emerged from a conversation with officials at readySC, who needed a place to hire and train Scout’s workforce while its Blythewood plant is being constructed.
While the concept began before CADP’s official launch, the effort utilized the public-private partnership model to bring industry leaders to the table with government and education officials to develop an innovative solution that would provide a facility to meet Scout’s immediate need while creating a resource for other companies looking to locate or expand in the Columbia area in the future.
This collaboration among public and private sector entities exemplifies the power of the model.
Hiring begins for the employees who will maintain Scout Motors’ SC assembly lines
It enables entities like CADP to be more nimble and responsive than a traditional government economic development office. Involving private companies in the planning maximizes expertise and allows for the most efficient use of resources and capabilities.
In the instance of Cornerstone, we were able to renovate an existing office building in just 13 months to create a hub for industry hiring and workforce training on time and within our $5
million budget.
This was a win-win situation for all the entities involved, and it also has positive ripple effects for the community.
Economic development isn’t just about dollars and cents; it is about people. In the Columbia area, our greatest asset is our residents who fill the jobs and make our companies and our communities grow and thrive.
The Cornerstone facility will train up to 20,000 local residents annually to prepare them to take on the high-paying, skilled careers created as our manufacturing sector continues to grow.
Because of this, it is easier to attract new and expand existing industries that will fuel our economy and keep jobs local.
In addition to the workforce training facility, CADP’s public-private partnership model has aided in recent development announcements like Vulcan Real Estate’s plan to build the Grand Willow Hotel in Columbia’s historic BullStreet District and Core Spaces’ new ōLiv retail and student housing development on Columbia’s Main Street.
Since July, the Columbia area has reported a drumbeat of new industry investments including Scout Motors’ $300 million supplier park in Blythewood and Pontiac Solar‘s $112.5 million solar energy farm in Eastover.
None of these announcements would have happened without collaboration and partnerships.
Think of CADP as the conductor who brings the various entities, public and private, together to orchestrate a powerful harmony.
The public-private partnership model at the heart of our work is important for our long-term success.
In a rapidly growing area like Columbia, the model is built to keep up with the growth.
This synergy between the public and private sectors brings innovation in infrastructure and technology and operational efficiencies, which all lead to better long-term prospects for economic development in the region.
CADP is excited about what lies ahead as we build on our successes and continue to enhance the opportunities for all of our residents.
