The GlobalFoundries Fab 8 plant in Malta is one of the economic development success stories in Saratoga County in recent years. It has spawned other businesses and education initiatives.Courtesy GlobalFoundries
By R.J. DELUKE
Improving the economy of a community touches individual lives. It brings jobs. It brings in new people and families that spend money. It brings companies that spend money.
Those dollars are spent at store and shops, restaurants and via business-to-business relationships that turn the economic wheel and generate incomes vital to people’s lives.
A great deal of time is spent by professionals to enhance development by bringing in new businesses and new jobs. Those groups–development agencies, business and professional associations, chambers of commerce–also help existing businesses stay afloat, expand and thrive.
Professionals in the field, like Marty Vanags president of the Saratoga County Prosperity Partnership, know their work is never done.
Even large successes, like landing the international microchip manufacturer GlobalFoundries, doesn’t mean a community lives happily ever after.
“We’re always working on projects. We’re always working on opportunities,” said Vanags. “A mistake that many economic development groups around the country make is they get one big project and think they’re done.
Economic development groups can’t rest on their laurels. “You have to constantly push the ball forward,” he said, using a basketball analogy. “Be happy about our wins, but try to score as often as we can and use every opportunity to do that.”