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06-18-07 Item 2B, EDC Plan Presentation
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06-18-07 Item 2B, EDC Plan Presentation
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6/25/2007 4:44:45 PM
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Item 2B, EDC Plan Presentation
General - Type
Agenda Item
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6/18/2007
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<br />environment just raised costs and drove away business. That's why <br />communities focused on physical infrastructure, below market-rate financing <br />and tax holidays for big industrial and commercial projects, and marketing <br />and incentives to attract industry. The result was often low-wage jobs and <br />companies that were just as likely to (eave after a decade for even cheaper <br />pastures. <br /> <br />In the New Economy, the path to raising wages and quality of life is in <br />ensuring a technologically advanced infrastructure, boosting the skills of the <br />region's workforce, creating fast and responsive government, ensuring a high <br />quality of life - including a high-quality physical environment that is attractive <br />to knowledge workers - and developing a responsive, efficient government. <br />This is not to say that fiscal discipline should not be a cornerstone of <br />government in the New Economy. But a low-cost environment with a poor <br />quality of life is not the ticket to success. <br /> <br />In the New Economy, communities need to shift their focus from <br />providing tax breaks and other subsidies to investing in the skills of <br />the workforce, a vibrant infrastructure for technological innovation, <br />and a superb quality of life. <br /> <br />Rather than simply trying to cut costs or react to each new economic <br /> <br /> <br />gyration, communities should instead invest in the foundation areas for <br /> <br /> <br />growth in the New Economy. A progressive, innovation-oriented metropolitan <br /> <br /> <br />area policy framework for the New Economy should rest on four <br /> <br /> <br />cornerstones: <br /> <br />1. Building an Organization That Supports Economic Development <br />2. Creating a Community that Fosters Economic Activity <br />3. Retaining The Existing Business Base <br />4. Attracting New Investment <br /> <br />Strategic Plan for Economic Development Page 18 of 20 <br />\\Metro-inetus\ardenhills\Admin\Commitlees\Economic Development Commission\AH Strategic Plan - FinaI5-16-07.doc <br />
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