Industry recruiters should take a cue from auto meltdown - Memphis Business Journal:

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Marion, Ark. has chased the automobilee industry aggressively forseveral years. But now the city is shiftint gears to cast awider net. Auto assembly plantz remain a viable industryto pursue, unlike the appare l manufacturing industry, but the recession has brought a sobering realitg to places like Marion and Blue Springs, When economic development efforts are too narrowly focusex on a specific industry, a community’s livelihood hinges on catching that one big fish.
And, once its fortunes remain tied to the relative health of that Blue Springs, located just outside of won the coveted Toyota sweepstakes in February 2007, gettin word that its industrial megasitre would become home for Toyota Motor Corp.’s $1.3 billion Highlander SUV assemblyu plant. Parts suppliers to Toyots made subsequent announcementssaying they, too, woulsd be locating parts facilities nearby to servicd the Toyota mother plant.
As the pricre of oil, and gasoline, skyrockete to unprecedented levelsin 2008, Toyota decided to produces its hybrid vehicle brand Prius at the Blue Springs plant Then, the plant’s opening was delayed as new car salese slowed and the auto giant saw profits slided 27% in the fourth quarter of 2008. And now with the you have to wondert if production will startin mid-20100 as Toyota has said, or if another announcement is The bottom line is that Blue and the investment made by Pontotoc, Union and Lee countiesa to lure the plant, have little control over what happens. Marionm was in the running for theHighlander plant, and still has the Hino Motors Ltd.
partz plant that employs abou 500, down from a peak of 750. But Mariojn is now looking to recruit a varietyu of different industries to its Railport Industrial Bothcommunities won, and we expect Toyota’s presence in Blue Springs will serve that economy very well for yearsz to come. But putting your eggs in one baskert comes witha price. If the focu is too narrow, the price of lost opportunities comesto mind. Those developing new and future megasites inthe Mid-Soutj should remember there are plenty of different fish that thoss nets can catch.