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Addressing Economic Development Challenges: Strategies for Improvement

On February 4, 2010, the Steering Committee convened to assess key challenges in economic development. The meeting highlighted essential strategies including improving economic diversity, expanding retail opportunities, and creating a business-friendly environment. Focus areas included identifying resources for business parks, raising awareness about investment opportunities, and enhancing childcare services. Notable weaknesses identified were a negative community image, geographic challenges affecting tourism, and urban sprawl. Collaborative initiatives are needed to tackle these issues and foster sustainable growth in the community.

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Addressing Economic Development Challenges: Strategies for Improvement

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  1. Steering Committee MeetingEconomic Development Challenges February 4, 2010

  2. Top 10 Weaknesses

  3. Clear Cut Weaknesses • Create a strategy for improved Economic Diversity • Create a strategy for Retail Expansion • Identify and capitalize on available resources to create business/industrial park opportunities • Improve awareness of investment capital for business growth • Create business friendly regulation environment • Assess quality child care needs and develop strategies for solutions • Explore Design Plan options and develop strategies

  4. Weaknesses that should be under one Initiative • Negative Image – Aesthetically • Geographic location is such that it is difficult to attract new industries and development, as well as its impact on tourism growth • Urban sprawl without clear retail center

  5. Weaknesses under Specific Clear Cut Issues • Negative image – boom/bust mentality = Industry Diversification • Below the critical mass (50,000 residents) = Industry Diversification • Leakage of money out of our community for goods and services due to lack of outlets = Lack of Retail Diversification

  6. Weaknesses that are hard to categorize under E.D • Relatively high cost of living • Negative image – socially

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