Why We Need County Economic Development Professionals

Economic Development can and does make a difference where it is given the resources to help the business climate. Professionals are experienced and prepared for many of the worthwhile efforts and should be supported by local government.

The Economic Development Professional coordinates many aspects of Economic Development

A professional, experienced Economic Development Professional can help a community identify, promote, and deliver that community’s best economic development opportunity.

How is Economic Development Done?

An Economic Development Professional Can...

Coordinate Basic Support Services

• Business support services such as SBDC and BR&E and Workforce Development can be promoted, delivered, and used to help existing business prosper

• Business Retention & Expansion Program = visits plus credible counsel

Clarify and Deliver Financial Programs

• Tax Incentives
• Local lending pools (i.e. banks and utilities)
• Local and regional revolving loan fund accounts
• Attracting outside investors (i.e. venture capitalists, angel investors, & foundations)
• Government grants
• SBA 504 and 7(a) and MCCF and other funding sources

Coordinate Development and Management of Local Infrastructure

Industrial Parks

Are there vacancies in existing parks? Do they have the infrastructure systems in place necessary to attract industry? What are the alternatives? Who is your competition? When was the last development in your Industrial Park? Why? When was the last time a business checked out your Industrial Park and then went elsewhere? Why?

Business Incubators

Do you have one? Can you afford one? Can you afford to have a regional one?

Tourism

What type of business development needs to occur in your community to attract tourists?

Direct Your Marketing Efforts

Lead a Strategic Planning Process

What are your Strengths, Weaknesses, Opportunities and Threats? Do you believe you can change what you are? Marketing is mostly diligent work and it takes time

Marketing Your Region to Attract Labor and Industry

Does your community have a marketing plan? Do your communities have a plan in place to improve their image for marketing purposes?

Be a Project Manager

• Coordinating industrial site and affordable housing projects
• Identifying your target industries criteria for site selection and using these criteria as a guideline to enhance your industrial park
• Coordinating tax incentive programs, including JOBZ
• Coordinating the financial collaborators to make a deal
• Coordinating Environmental Assessment and Clean-up
• Doing the paperwork and follow-up
• As various government assistance is used, there are also reporting requirements
• This is a role that the economic development professional understands

For Local Networking Events

If there is not an active Chamber in your area, events can be set up to give business people an opportunity for better communication

For Regional and State Networking Events

A lot of information is shared at these events and your community is affected by the way information is shared and used

Economic Development Professionals Play an Active Role…

...In local efforts to increase economic vitality.  They provide experience, networking connection, and responsibility.