Economic Development Plan
The Economic Development Department hosted a planning meeting May 10 and 11, 2022, for the purpose of outlining an Economic Development Plan for our area. Those work days resulted in recomended changes to the bylaws, updates to the measures of success for the department, updates to ED department programs, goals to work towards, and strategies to use in that work.
After an annual survey of area businesses, the supervisory board updated this Plan in May 2023.
Goals
- Update our programs and services to meet the current needs of area businesses to promote economic growth
- Build new houses for families and those ready to downsize by leveraging local investment with state funds
- Rehabilitate current housing inventory through offering a mix of programs and incentives
- Recruit future workforce through coordinating a county workforce recruitment plan and investing targeted incentives
- Develop sites to identify and attract new industry and secondary sector businesses (New)
Strategies
- Working directly with area businesses to grow the economy of the region
- Offering area businesses and workers loans and grants and connecting area businesses with regional, state and federal funding opportunities
- Strengthening relationships with regional, state, and federal entities through coordinating and participating in their programs and leveraging funding opportunities
- Collaborating with Smith County, neighboring cities, regional organizations, and others with similar goals, specifically housing
Measures of Success
- County Employment
- County Payroll
- Business volume
- Local tax base
- School enrollment
- Quality of life