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ABOUT SEDA
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Shoals Economic Development Authority
Phone:
(256) 764-0351
1-800-239-6087
FAX: (256) 764-3850
20 Hightower Place
Suite 1
P.O. Box 580
Florence, Alabama 35630
E-mail:
info@seda-shoals.com
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ABOUT SEDA
Mission Statement
SEDA serves as the area's lead organization to develop and implement economic development
strategies that create new business and employment opportunities essential for sustainable
community growth.
History
Throughout the middle half of the 20th century, Northwest Alabama prospered through the opportunities
provided by a number of public and private employers, most notably were the Tennessee Valley Authority,
Ford Motor Company, and Reynolds Metals. Multiple generations worked in these facilities, thus providing
a surplus of capital for both public and private services.
As the national and world economies began to change in the late 1970's, Northwest Alabama businesses
and those who worked here began to learn what it means to do more with less.
Business operations
could no longer afford the inefficiencies of the past.
Local governments also began to realize
that they were being asked to provide more services with less income.
With 1985 unemployment rates skyrocketing into the high teens, a group of private and public
area leaders realized that the existing community development efforts were fragmented
and financially inefficient. Furthermore, advice sought from numerous economic development
experts clearly stated that a joint effort between all Shoals area communities
would be the most suitable and effective method of service delivery.
In early 1986, through
the strong efforts of many people and the leadership of the University of North Alabama and the
TIMESDAILY newspaper, the Shoals Industrial Development Authority was created.
Also known then as SIDA, the Shoals Industrial Development Authority was the first multi-county
public industrial recruitment organization in the State.
In fact, the Alabama Code had to be
amended to allow such a cooperative effort to take place. SIDA also broke ground in the Shoals,
leading the way for other joint Colbert/Lauderdale County efforts to become a reality.
But SIDA's work had just begun. Generations of public animosity, and sometimes outright hatred
between communities, had to be overcome. Much time, energy and money was invested in proving that
SIDA was an organization that supported all communities equally.
The
employment of an executive
director and staff allowed the organization to begin its first attempt at marketing the area's
economic development assets to the nation.
With an annual budget of $325,000 provided by public and private contributions and a staff of
two,
the new effort placed an emphasis on marketing SIDA to the area and to the nation. Like most new efforts,
the intent was to make something happen, and fast. Although extensive media marketing yielded
minimal results, the community did benefit from improved consultant and state economic development
relationships. Through the efforts of many, the 1990 Florence MSA unemployment rate had dropped
back to a respectable 6.8 percent.
With the departure of the executive director in late 1990, the SIDA Board of Directors took the time
to evaluate their progress and to address the issues normally associated with startup efforts.
It
became clear that SIDA had become the "essential service of local government" as defined in its
enabling legislation. But more importantly, SIDA was the catalyst that allowed the rival
communities to begin cooperating.
With a new executive director in place, SIDA began the task of establishing itself as a financially
sound, professionally staffed organization that would offer a full array of economic development
services to the community. With a new name that represented a full array of services offered by
the organization, the 1996 budget of $425,000, and a staff of five, the revised Shoals Economic
Development Authority (SEDA) implemented a five-year strategic plan approved by public and private
leaders alike, which was designed to further establish the organization as the single source for
economic development services for new and existing manufacturing and support services.
During this
time, an additional emphasis was placed on improving the local assets, as well as marketing these
assets to the world. An aggressive move was made to purchase and begin the development of the
Barton Riverfront Industrial Park. SEDA also recognized the need to use a spec building as a
marketing tool. Successful SEDA constructed facilities were located in Sheffield, Rogersville
and the Shoals Commerce Park. The marketing segment of the five-year plan also yielded remarkable
results. Visits by new companies interested in the Shoals increased
dramatically from 11 during
the first year of the plan to 56 during the last full reporting year.
Once again, the Shoals is experiencing a fundamental change in the world economy.
And, once again,
SEDA and the Shoals are preparing themselves to meet this new challenge through a new five-year
strategic plan designed to not only meet, but exceed, community demands.
Responding to the economic development assistance needs expressed by local elected
officials and business leaders, the Alabama State Legislature created the Shoals Economic
Development Authority, known as "SEDA" in 1986.
Today, SEDA is an established public/private partnership whose challenge is to constantly
strive toward the improvement of the Shoals area economy.
Its professional staff is
committed to an exciting future built on innovation as well as tradition.
SEDA strives
to be recognized worldwide as a unified benchmark community known for its proactive
business recruitment and expansion environment.
Vision Statement
To be recognized worldwide as a unified benchmark community known for its proactive
business recruitment and expansion environment.
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