Economic Development Strategies

Communities must continually monitor themselves to assure that they are maximizing their economic development potential. Economic development supports jobs and households while supporting a diverse tax base for public services.

Development Strategies assists in the creation of economic development strategies that focus, first, on business retention and expansion (BR&E). The best foundation for economic growth is made up of the companies and workers already in the community. Knowing their needs for growth, change, and training can lead to programs that strengthen their presence and improve the overall business climate. But strategies should also include business attraction customized to local strengths and opportunities aimed at targeted companies and economic sectors, as well as labor force enhancements to assure that residents are adaptable to inevitable economic changes.

Economic development strategies also relate closely to planning and redevelopment strategies. Vibrant, clean, and safe places make the perfect environment for economic growth. And strategies necessarily include an effective use of public incentives to catalyze growth and encourage business retention.