Maury Alliance celebrates 'double-digit' percentage growth, but takes 'pause'
At the Maury County Chamber & Economic Alliance annual dinner last week, president and CEO Wil Evans, highlighted Maury County's exponential growth not only in population but also economically over the past several years.
In just a few words, Evans delivered an economic punch citing big statistics, which could set the foundation for Maury County to become a leader in the state in economic growth and prosperity in addition to population growth.
Just days after the annual dinner, Maury County grabbed the number one spot in the state in four categories in incoming investment categories, according to SmartAsset. The categories include business growth, GDP growth, new building permits, and incoming investment. On a national level, Maury County ranked third in incoming investment and seventh in business growth. There are over 3,000 counties in the U.S. SmartAsset methodology looks at change over a three-year period, which demonstrates sustained performance.
Dubbed as the fastest growing county in Tennessee in the 2020 U.S. Census, Maury County has continued a forward trajectory ever since, solidifying it as a city that's attracting people, business, commerce and economic investment.
Over 300 business professionals attended the annual dinner at the Memorial Building in downtown Columbia on Jan. 30 to celebrate the year's economic highlights.
More: Maury Alliance quarterly update: SGB invests $1.7M to create 40 new jobs
According to a recent Maury Alliance 13-point "key performance indicator dashboard" used to measure trends, over the past 10 years, the county has experienced double-digit percentage growth in all 13 performance categories, including per capita income, annual income, median home price and retail sales.
"These are indicative of long-term economic growth and a thriving economy in the county," Evans said.
County growth over 10 years:
Per capita income grew over 50%
Average annual income grew over 30%
Median household income grew over 40%
Retail sales grew over 86%
Last year 1,760 jobs were created with capital investments of $2.4 billion in Maury County.
In the coming weeks, Evans also said the Alliance will share additional data, showing "Maury County is a leader in the state and a top leader in the U.S. in other top indicators, so please stay tuned."
The Alliance also announced two large economic development investments last year, including SGB Enterprises Inc. and Xxentria Technologies in Mount Pleasant, bringing $46 million collectively in capital investments and 126 new jobs, with combined wages of $60,000.
Thirteen economic development projects in various industries have been announced since 2022.
Evans also called 2023 a "record-breaking year" for membership gains, ribbon-cuttings and Shop Local gift card sales.
The Alliance hosted 54 ribbon-cuttings throughout the year with an average of more than one per week. The Shop Local gift card program raked in over $60,000, doubling in sales compared to the year before. Since the Shop Local program started just a few years ago, the Alliance has been able to generate $200,000 in revenue in Maury County. In 2023, the chamber added 135 new members, which now has grown to 630 members to date. Plus, the Alliance hired two new staff members last year.
"This is just small snapshot of what we've been able to accomplish within the last year," Evans said.
Evans: 'Pause' necessary to ensure 'smart growth'
However, with much economic advancements generating growth, he said the organization will "pause" to reflect on its direction to ensure that the county grows in a "smart" way.
While many long-time and new residents welcome new growth from housing to industry, some question if Maury County will be able to retain its character, charm and small town feel.
More: What's the cost of growth? Maury County grows as town grapples with preserving rural character
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"While all of this is very exciting, it does present us with a new set of challenges," Evans said.
"For those who have been in the community long-term — those who were raising your hand earlier about who've been here the longest — I don't have to remind you that seeing trends in the opposite direction ... creates a different set of challenges. I think most of us can agree that the challenges we are facing today are much better than the challenges we were facing five to 10 years ago.
"But there's one thing you have to take away from here tonight. It's been our organization has been focused on growth because that is what creates opportunity for a thriving economy and opportunity for our citizens. We fully understand however that we are a much bigger community now than we were 10 to 15 years ago.
"We now need to pause reevaluate and ensure we are travelling in the right direction to achieve our destination."
Evans said as the organization begins its strategic plan this year, a tailored approach would be taken into consideration.
"We have already begun tailoring our approaches toward economic and community development to ensure we are growing in a responsible manner, and I assure you we will continue to do so even more as we begin mapping out our next strategic plan this year," Evans said.
This article originally appeared on The Daily Herald: Maury Alliance celebrates economic growth at annual dinner in Columbia
