ECONOMY
Economic Indicators
Major indicators widely used in establishing an economic snapshot of a community include trends in demographics, the labor force, unemployment, underemployment and income.
The population in the county is about 2,400 residents. Of these, over 1,100 participate in the civilian labor force. Unemployment is generally less than 4%, with median family income in 2005 of $45,150.
Major Economic Sectors
Government
Government workers, including school system employees, hold 28% of the jobs in Highland. Many of these jobs offer benefits which provide strong foundations for working families. Growth may come from attracting additional state or federal jobs to this area.
Services
Services to individuals, businesses, government establishments and other organizations provide 21% of the jobs in Highland. Many self-employed residents work in this sector. Opportunities for growth include adapting to changing demographics, capitalizing on increased tourism and getting ahead of economic trends.
Wholesale and Retail Trade
This category consists mostly of retail trade and accounts for 8% of the jobs in Highland. There are specialty businesses that cater to the tourism trade and other businesses that are sufficient to meet the basic everyday needs of the residents. However, due to Highland’s low population, large retail outlets do not locate here so many residents travel an hour or more to shop in larger localities. Growth may come from expanding tourism and finding ways to offer more products locally.
Construction
Construction provides 10% of the jobs in Highland. An expanding local economy and changing demographics may hold the key to increased opportunities in this area.
Manufacturing
Manufacturing also provides 6% of the jobs in the county. Most of these businesses involve lumber and wood products. Growth may come from additional processing of these products.
Agriculture and Forestry
Agriculture and forestry provide 7% of the jobs in Highland but have been instrumental in developing the natural character of the county. Many residents have expressed an interest in maintaining this rural, agricultural character. The number of farms, acreage farmed and farm incomes have remained relatively constant while the value of agricultural and forest lands has increased dramatically. This has increased the tax burden on the agricultural sector. A land use tax could address this issue but the county’s tax base will likely have to be increased before fully implementing such an option. Other opportunities for growth are being explored.
Finance, Insurance and Real Estate
This sector provides over 8% of the jobs in Highland and they are statistically the highest paying in the county. The real estate market has been strong as buyers from the more metropolitan areas seek to own property in a different environment. The county has two locally owned banks that do an excellent job of serving the needs of both individuals and businesses. Both banks have expanded in recent years while providing solid employment opportunities.
Looking Ahead
Diversity
The county’s economy is based upon
a diverse range of activities. This is a positive position and the county will do
well to maintain this diversity. In the goals, objectives and strategies section, the com-prehensive plan committee has set out many strategies to maintain diversity, to preserve and expand existing businesses and to attract new businesses to the area.
Economic Development Authority
The county has recently revitalized its Economic Development Authority. The group hopes to foster a proactive approach to economic development. It plans to work closely with existing businesses while also identifying and attracting new businesses that are a good fit for Highland’s unique characteristics.
Tourism
As a county rich in its own legacy and natural beauty, Highland has acknowledged local and regional tourism as an important economic opportunity. The Chamber of Commerce and The Highland Center work hard to expand and promote tourism as well as other areas of economic development.
Technology
As more jobs become dependent on technology, opportunities are created for workers that live outside of large metropolitan areas. Highland has a high quality of life that could attract such workers if the infrastructure is available. The county should explore ways to take advantage of this trend.
Up to the Challenge
Highland’s small population and unique characteristics pose their own set of challenges to increased economic activity. The economies of scale frequently do not allow for traditional solutions so private citizens and county leaders should look for innovative ways to ensure a viable economy for all Highlanders while preserving the scenic and rural character of Highland.