Enhance the socio-economic environment of Salisbury, Wicomico County and region through the preservation and creation of productive employment opportunities.
In 1967, the Chris Craft Corporation announced it was closing its Salisbury manufacturing plant, eliminating hundreds of industrial jobs. To mitigate such events in the future and to help diversify our economic base, community, business and governmental leaders joined forces to create Salisbury-Wicomico Economic Development, Inc.
A priority of our economic development initiatives is the retention, stability and growth of Wicomico’s existing industry. Most businesses derive 75-80% of revenue from existing customers. As a correlation, most new jobs in virtually any community are generated by existing customers or in other words, resident businesses. A strong economic foundation not only promotes new jobs, but also attracts prospective employers considering Wicomico County for its business location.
Economies and markets are fluid and therefore, the attraction of new firms and industries are a vital part of our initiatives. New and diverse businesses mitigate adverse effects of economic downturns, reduce a community’s reliance on just a few firms, increase the taxable base and add jobs. The indirect benefits of new industry are perhaps as great as the direct benefits.
In both retention and attraction endeavors, SWED targets those industries whose activities result in the importation of dollars to our community. SWED is pleased to work with all businesses and numerous partners to enhance our economic base and vitality.