ChamberLink Newsletter

Chamber Members Continue to See Value in HREGI

Chamber Chair-elect Don Nalley, left, accepts an investment into the Huntsville Regional Economic Development Initiative from AT&T, presented by Dave Hargrove, Regional Director-External Affairs

Five years ago leaders in the Huntsville/Madison County region developed a comprehensive economic growth strategy focused on creating and sustaining key programs to prepare the community to effectively compete in the global marketplace, while enhancing the community’s quality of life--the Huntsville Regional Economic Growth Initiative (HREGI).

And it is because of this plan that the Huntsville/Madison County region has been able to weather the economic downturn better than most communities in the nation and is continuing to receive accolades for its growth, its quality of life and its workforce.

HREGI, under the stewardship of the Chamber of Commerce of Huntsville/Madison County, works to establish the region as a stronger and more visible community in the global competition for economic growth. Investors and participants in the Chamber’s plan measure the community’s economic performance against industry accepted economic development criteria to achieve a relevant return on investment. The initiative positions the Huntsville area as one of the leading economic growth centers in the Southeast.

HREGI is comprised of more than 175 investors who know that by investing in HREGI they are supporting their community and future business growth opportunities. The leadership from one global company with an area operation, AT&T, felt so strongly about the importance of HREGI that they recently increased their annual investment in HREGI this year by 25 percent.

“You have to plan for positive growth. The economy has ups and downs and when it is down you have to make investments in places where you know you are going to get a strong return," said said Dave Hargrove, area manager for AT&T. "This Chamber has an excellent track record of doing just that."

Several local companies have recently joined the growing list of investors because they also understand the importance of such an investment. Fite Building Company and United Space Alliance became two of the most recent investors and interest in joing the elite list continues to increase.

HREGI includes seven key strategies designed to move the Huntsville/Madison County community forward economically by creating strong partnerships and alliances throughout the region. The strategies focus on growing the existing industry base while at the same time recruiting targeted industry to continue to diversify the local economy. Protecting defense and aerospace industries and assets, developing a skilled and trained workforce are equally important strategies through HREGI and require a positive community image that ensures the community’s name is recognized regionally, nationally and internationally. And as many business leaders know, to ensure future growth the infrastructure must be in place to support that growth. Lastly, and equally as important as the other six strategies, is maintaining accountability to the Chamber’s investors and stakeholders.

These strategies are the roadmap to the destination of being globally recognized as the premier community to live, work and play and to relocate and expand a business. It takes a dedicated and committed group of business leaders to ensure a smart future for Huntsville, Madison and Madison County and the surrounding region.