Summer 2008

Smart Small Towns
The South’s small college towns provide big value.

By Beth Braswell and Laura Corbin

College towns are magnets for companies and entrepreneurs seeking knowledge workers and the benefits that come from the close association of the colleges and universities. College towns have been called “the best bargain in U.S. real estate – the ideal mix of low prices, culture, fun and high-tech growth.”  These communities will grow faster than the U.S. population in the coming decades, research says – the U.S. population is expected to grow about 1 percent a year until at least 2050, but towns and cities with universities, especially large ones, will grow at three times that rate.

Smaller communities can take advantage of that growth even if they don’t have large research universities. Having highly touted, smaller universities doing some research – and even smaller liberal arts colleges – can make a small community a very attractive “college town” for business and industry.

These institutions of higher education have recognized the value in putting out graduates with marketable degrees, many eager to stay in the community they have come to love. Knowledge-based companies are desperate to find the educated workers they need to grow, and a college town might fit the bill; maybe it’s a larger metro area with a research university, but smaller communities with good colleges and universities also might be ideal.

Here, we highlight some of the South’s lesser-known – but no less successful – smaller college towns that business and industry certainly aren’t foregoing in their search for the “perfect location.”  Take a look and see what they have to offer:

Okaloosa County, Fla.: Tech savvy
Colleges:
University of West Florida
Okaloosa-Walton College
University of Florida Research and Engineering Education Facility

Okaloosa is the leading technology center in Northwest Florida, offering relocation incentives, low taxes and prime locations. The area has been named third in the state for “High Technology Industry-Cybercity;” one of the “Best Cities for Doing Business;” and second for “Business Vitality.”  Its work force is supplemented by the spouses, dependents and retired military personnel from Eglin Air Force Base and Hurlburt Field. The region is marketing a new the technology campus built by the Air Force globally for high-tech companies, startups and university programs.

Clarksville/Montgomery County, Tenn.: Fast and furious
Colleges:
Austin Peay State University

Clarksville is ranked the 9th fastest-growing city in the nation, driven by a number of factors, including Austin Peay State University and Fort Campbell Army Post, the largest employer in Tennessee and Kentucky. Montgomery County possesses a strong manufacturing segment, which employs some 6,000 people, ranking it in the top 25 for manufacturing employment in the state.

Hattiesburg, Miss.: Up by the bootstraps
Colleges:
University of Southern Mississippi

The “Hub City” – so named because of its strategic location in the transportation “web” at the intersections of Interstate 59, and State Highways 49, 98 and 11 – has become the educational, retail and medical hub of southeastern Mississippi. One of the stops along the I-59 Technology Corridor, a 168-mile span of Interstate 59 that has become a hotbed for high-tech growth, Hattiesburg reaps the benefits and offers much to the network of companies along the route. Today, Hattiesburg is home to a diverse industrial base including health care, education, military, and manufacturing/distribution. The University of Southern Mississippi serves nearly 16,000 students and is a major economic engine in this southern community.

Statesboro/Bulloch County, Ga.:  Savannah’s best-kept secret
Colleges:
Georgia Southern University

Home to the largest Wal-Mart distribution center in the world, Statesboro’s Gateway Regional Industrial Park, one of the area’s best advantages, emerged quickly as one of Georgia’s fastest-growing industrial centers. Located on U.S. Highway 301 and a short 45 minute drive from Interstate 95 and the deepwater port at Savannah, the park also is home to a Briggs & Stratton manufacturing facility and Viracon’s glass fabrication facility. The region has other industrial parks and sites offering the best in location, infrastructure and amenities. Georgia Southern University’s College of Information Technology provides applied learning opportunities to develop software for major businesses. The community’s Georgia Southern University is home to 17,500 students with another 2,000 at the local Ogeechee Technical College. Combined, these institutions of higher learning give Statesboro/Bulloch County an abundant and skilled work force. Since 1993, Statesboro has attracted more than 4,000 new jobs and $626 million in new and expanding industrial investment.

Jonesboro, Ark.: Big and strong
Colleges:
Arkansas State University

With more than 100 industrial plants and facilities, Jonesboro has four industrial parks and a high-quality transportation infrastructure. The Arkansas State University System supports state and regional economic development initiatives and provides leadership in the Arkansas Biosciences Institute (ABI), an agricultural and medical research consortium. Faculty within ABI are encouraged to engage in entrepreneurial activities, including spin-off companies, joint ventures and business relationships to facilitate technology transfer and economic development.

Ruston/Lincoln Parish, La.: Top-notch education
Colleges:
Louisiana Tech University
Grambling State University

Ruston’s diverse economy is built around Louisiana Tech University (LTU) and Grambling State University, the two largest employers in the area. This Louisiana gem is located at the intersection of Interstate 20 and U.S. Highway 167. Providing balance are major employers in the timber and natural resources industries, such as Weyerhaeuser Co., Saint-Gobain Containers and Franke Consumer Products. To help boost economic development, LTU just added Ph.D. programs in engineering and in computational analysis and modeling, in addition to a doctorate program in industrial and organizational psychology – the only one of its kind in the state.

Oxford/Lafayette, Miss.: Growing and growing
Colleges:
University of Mississippi

First among Oxford’s industrial advantages is its available and qualified work force, drawing from a civilian work force of more than 90,000 in a seven-county region because of an excellent road system. Oxford is the manufacturing, medical, educational, governmental and trading hub of North Mississippi. The North Mississippi Enterprise Initiative manages three business incubators and provides leadership in entrepreneurship. Its Research Institute of Pharmaceutical Sciences explores pharmaceutical products. The National Center for Natural Products Research is dedicated to discovering, developing and commercializing new pharmaceuticals and agrichemicals derived from plants. The Mississippi Technology Alliance champions science and technology-based economic development efforts, including accelerating small business innovation; fostering business, community and academic partnerships; and promoting technology work force development.

Nacogdoches, Tex.: The great outdoors
Colleges:
Stephen F. Austin State University

Nacogdoches has an abundance of natural resources, including plenty of water, timber and land – plus a hard-working labor force and infrastructure necessary for growth. Stephen F. Austin State University maintains a 642-acre research center that includes beef, poultry and swine production and an equine center; an experimental forest; and a forestry field station on Lake Sam Rayburn. The university is known for its pre-professional programs in dentistry, engineering, law, medicine, occupational therapy, optometry, veterinary medicine and physical therapy. SFA houses one of only two schools of forestry in the state, the only forestry college in the timber-producing East Texas region.

Blount County, Tenn.: Hotbed of technology
Colleges:
Maryville College

Just 15 minutes south of Knoxville, this hotbed of technology is also home to the largest scientific project in the world at Oak Ridge National Laboratories, teeming with engineers and scientists. Maryville College adds diversity with its international studies programs attracting students worldwide and serving as a draw for foreign capital investment. This area will be attractive to Volkswagen suppliers for its proximity to Chattanooga (site of the recently announced VW plant) and availability of five industrial parks, spec buildings, and a new technology park. In total, Blount County offers 1,400 acres of available land, 50 percent of which is graded with infrastructure to the sites.

Troy, Ala.: A diverse and healthy economy
Colleges:
Troy University

Lockheed Martin assembles missiles here, Sikorsky builds helicopters, KW Plastics has a massive recycling operation and right now, seven industries are expanding. Troy University has 60 campuses in 11 countries and 17 states but its main campus is located in Pike County. Involved in international activities since 1974, Troy has a focus on building trade and commerce between foreign business and Alabama business. The area offers a small town atmosphere with metro amenities: a cultural arts center, sports program and theatrical performances.

Bowling Green, Ky.:  Thrives on tradition; welcomes evolution
Colleges:
Western Kentucky University

In Bowling Green, situated in the heart of south-central Kentucky’s gently rolling hills, Western Kentucky University’s Innovation and Commercialization Center is incubating numerous small businesses in fields ranging from information technology to sustainable energy. Another perk for businesses in Bowling Green is the 1200-acre Kentucky Transpark is a high tech commerce and business park with a training and research facility onsite, staffed by the local community college.

Myrtle Beach, S.C.: Fun/Sun capital gets down to business
Colleges:
Coastal Carolina University

Coastal Carolina University, renowned for its Coastal Marine and Wetlands Studies program, was touted by US News & World Report as one of the Best Colleges and Best Graduate Programs. Coastal Carolina’s Center for Economic Development, an outreach of the college, conducts applied research as well as feasibility studies. This resort area is squarely focused on industrial recruitment and is building a new 400-acre aviation park featuring sites with runway access, and located adjacent to a high-end live, work, and play community.

Harrisonburg, Va.: A fertile launch pad for business
Colleges:
James Madison University

James Madison University (JMU) has a long-standing reputation for launching innovative businesses. In fact, the well-known Rosetta Stone language programs were started in downtown Harrisonburg by two JMU grads. There’s a downtown technology zone called HDTZ that has 10 start-ups, all the brainchildren of JMU grads. Many have business partnerships with the university. Currently, SRI International, one of the early research icons in Silicon Valley, is located on the JMU campus while the company is building a center for advanced drug research in the Harrisonburg area.

Virginia’s Heartland: An enthusiastic work force
Colleges:
Longwood University
Hampden-Sydney College

This six-county region in south central Virginia is located on primary east-west and north-south transportation corridors. In the center of Farmville, Longwood University, (one of Princeton Review’s 2009 Best Colleges in the Southeast), contributes to the “college town” spirit inspiring art galleries, coffee houses and musical performances. With over 700 students enrolled in the College of Business and Economics, Longwood contributes brainpower to the workforce. Also located in Virginia’s Heartland is Hampden-Sydney College, the nation’s 10th oldest college, which has produced a wealth of dynamic national and international leaders.

Georgetown, Tex.: Up-and-coming business location
Colleges:
Southwestern University

Georgetown, located 26 miles from Austin, has received multiple accolades for its small-town charm and business acumen. Southwestern University serves as a business catalyst for the area with its innovative education opportunities. Positioned directly on Interstate 35, Georgetown is in one of America’s most important international trade corridors, located just north of Austin.

Shelby County, Ala.: A magnet for people and businesses
Colleges:
The University of Montevallo

Located in the geographic center of Alabama, Shelby County benefits from a prime location. Perhaps because of this location, the area has become the fastest growing in Alabama over the last decade and is among the fastest growing in the U.S. Shelby County also boasts a highly diverse industrial base that reflects its attractive business climate. In particular, it has become a magnet for light industrial and distribution facilities. Shelby County is home to The University of Montevallo, Alabama’s only public liberal arts college that adds 3,000 students to the local community. Along with the resources and students of a university, the community also offers Shelby West Corporate Park, a 400-acre commerce, industry, and technology park located directly on Interstate 65.