Last week, I had the honor of attending the second Logistics Innovation Leadership Council meeting. The leadership council was formed in 2019 to oversee and set direction for the Logistics Technology Corridor Task Force, which was formed in 2018. Originally the leadership council intended to meet quarterly, but regular meetings got a little derailed by the COVID-19 crisis.
The leadership council is led by the Savannah Economic Development Authority (SEDA) and Georgia Southern University. The council is comprised of leaders from Savannah State University, Savannah Technical College, Georgia Ports Authority, Savannah/Hilton Head International Airport, Georgia Department of Economic Development’s Centers of Innovation, Great Dane, Hunter Maclean and several other prominent organizations.
For those that have not been following along, Savannah is one of two designated technology corridors in the State of Georgia. Augusta has the Cyber Technology Corridor, and we have the Logistics Technology Corridor. The goal of the corridors is to activate more technology firms and jobs in each region.
Technology firms and jobs are important for a couple of reasons: first, starting salaries in technology firms tend to be at least 10 percent above average Chatham County wages, even for less technical roles like customer support; second, technology jobs are skills based, meaning technology skills are more important than a degree.
The task force is a group of passionate individuals, of which I am a proud member, interested in seeing Savannah grow as a high-tech town. This group has worked hard over the past three plus years with the goal of growing Savannah into a globally recognized location for logistics innovation. One of our biggest wins to date was obtaining $400,000 in state funding plus $100,000 of local matching funds for a series of studies on how to achieve this mission. The first of these studies was completed this spring and the results were shared with the Leadership Council last Tuesday.
The report, “Savannah Logistics Technology & Innovation Corridor: Insights to Developing an LTIC and SLTIC Approach,” was researched and written by the Center for Business Analytics and Economic Research at Georgia Southern University.
The study started with a comparison between Savannah and similar cities with which we often compete for industry and talent: Jacksonville, Charleston, Augusta, Chattanooga, and Greenville, S.C. It looked at both the innovation efforts as well as the economic profiles of these communities. While our region ranks lower than our peers in many economic measures, we ranked higher in a concentration of logistics employment due to the Port of Savannah and have a higher concentration of software developers.
The next section dove deep into the logistics technology industry through interviews with 61 area and industry experts. These experts highlighted the importance of a strong transportation system, ample technology talent and access to capital as key to being successful in this endeavor.
The study, using a Critical Mass Rating, indicates that Savannah has the necessary assets and ecosystem, or support system, to be a successful logistics technology and innovation corridor (see table below). The rating system assessed a number of key factors for success, including population trends, economic and business conditions, and local support for business development. The Savannah region earned an overall score of 26 out of 34, and we scored off the charts in terms of local support for initiatives such as this. That bodes well for moving forward with the logistics technology corridor.
Lastly, the study provided recommendations for the next steps: create a planning document, facilitate corporate engagement, identify a core site for innovation, focus on placemaking, adopt a phase approach, focus on a clear niche within logistics innovation and formalize the organizational structure.
Our task force will be moving forward following the playbook that the study provided. The timing is right and the critical factors are in place for creating a successful Logistics and Technology Corridor in the Savannah region. We are seeking more corporate partners to help drive us forward so let us know if your company would like to be a part this exciting initiative.
To review the full study, visit: http://savannahlogisticscorridor.com/wp-content/uploads/2020/07/CBAER-Logistics-Technology-Corridor-Study-final.pdf
For more about the Task Force, visit: www.savannahlogisticscorridor.com.
Jen Bonnett is a recovering technology entrepreneur turned startup community builder. She serves in dual roles as the executive director of The Creative Coast and as vice president of Innovation & Entrepreneurship at the Savannah Economic Development Authority (SEDA). The Creative Coast is a non-profit organization supporting local innovators which is made possible by the City of Savannah and the SEDA. Contact her at [email protected].
CBAER Logistics Technology … by savannahnow.com
