Recently, KCDC reported that the workforce shortage witnessed throughout the country was also evident in Franklin County whereby our local businesses are continuingly trying to fill open positions. This situation has prompted questions as to why KCDC should continue to recruit businesses during a workforce shortage. While the reasons are numerous, the following information provides some important reasons that are relative to our community today:
KCDC continues to recruit businesses that will pay its employees’ family-sustaining wages and comprehensive benefits and provide discretionary income to increase the quality of life for Frankfort/Franklin County families. A recent study conducted as part of the Regional Economic Development Strategic Plan, noted that our region has double the U.S. average in agriculture sector jobs and food services / retail trade jobs. While there is great value in these jobs from both an employment and community development perspective, they are often part-time, lower-wage jobs that do not provide basic benefits. KCDC’s mission is to recruit businesses that can provide competitive benefits and sustaining wage employment opportunities for every citizen of Frankfort/Franklin County who wants a job. As was noted by Dani Rodrick, Harvard University Economist, “Historically nothing has worked better than economic growth in enabling societies to improve the life chances of their members, including those at the very bottom.”
While KCDC continues to promote our community to prospective businesses, we also have a workforce development program that is striving to return the thousands of workers who chose to leave the workforce during the pandemic. For example, KCDC’s new Workforce Development Program is addressing the childcare issues facing women who were previously in the workforce by providing funding and assistance for new or expanding childcare facilities; returning retired workers to the workforce through job-sharing or “gig” jobs by lending their expertise and experience without requiring a full-time employment commitment from them; expungement opportunities for those who are in the criminal justice system; funding for various training and apprenticeship programs; and assistance for potential workers without availability to transportation. Currently in Franklin County, we have less than 50% Labor Participation Rate. It is not financially sustainable or feasible to expect that less than 50% of the population will generate enough tax revenue to sustain the wants and needs of the entire community. Therefore, KCDC is working to enhance workforce development programs to support businesses’ needs to find qualified workers and get workers back on the job.
Population growth and housing development in Frankfort/Franklin County have been stagnant for more than two decades which negatively affects the available workforce necessary to recruit business and industry to our community. Several developers believe part of the reason for slow population growth is due to lack of housing, so now there are currently 1,300+ multifamily housing units in development in Franklin County. When those spaces are filled with residents who need jobs, we want them to find work in our community.
And lastly, but probably most relevant, KCDC continues to recruit businesses and promote growth because our community expects to have the goods and services it deserves, just like surrounding communities have long since made available to their residents. The wish list is filled with things that would be valuable assets to this community such as: safe walking/bike trails, well maintained parks, public service agencies and an animal shelter. We deserve improved recycling programs, well-maintained streets, sidewalks and bridges, indoor pool and recreational facilities, sports facilities and street fairs, concerts, and festivals, just to name a few items.
Our elected officials often cite that they won’t be able to cover pension liability, or they cannot afford to fund the local development programs that help businesses in the community. There are only two ways to remedy this apparent need for services and capital improvements in which our local governments are currently unable to fund. One is to raise the tax rates for businesses and individuals to increase tax revenues to pay for these programs and services, as was just reported that the city is considering. The second more desirable option is to grow our population, jobs, businesses, and property development to increase tax revenue cumulatively while reducing the burden on the individual worker or business.
KCDC’s efforts to recruit new businesses, to invest in jobs and workforce development in Frankfort/Franklin County are focused on improving the quality of life for our community residents, which will increase the likelihood of success for our businesses, non-profits and schools. Simply put, if we continue to grow talent and jobs, we will be in a much better position to meet the growing demands of our citizens.
Terri Bradshaw
KCDC President/CEO
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