Tuesday, October 16, 2007

Rural Economic Development

With the migration of many people to larger metropolitan areas, a lot of rural towns and communities have been struggling for economic development. Most everyone wants to see their local/regional economy grow to some extent year by year, but an astounding amount of these communities are starving for any sort of growth, just to stay alive.

When a community is thriving, and growing to some degree over the course of time, then economic development usually is a force onto itself. As one wheel turns, the other wheels in the great machine of economic progress turn as well. As time goes by though, people can tend to lose sight that economic development needs to be continualy monitored and managed. There always needs to be short, middle, and long term goals in order to maintain forward momentum. But if a rural community finds itself in a downward spiral, economic development can’t just be looked at as a single issue, it is a broad subject with many things that affect it. You can’t just create economic expansion because you will it to happen, without looking at all of the pieces, and have a strategic plan the community is almost assured hard times or possibly failure in the future. Some of the various pieces to be considered when dealing with economic expansion:

Workforce: You need to start to be concerned about a workforce, whether there is enough and if they are educated.
Housing: Whether or not you have adequate housing to support the increase in population.
Infrastructure: Does the town support the basic needs for a brand new business. Such as various transportation options, and city services (sewer/water/etc…).
Incentives: What sort of incentives is not only available for the actual business, but what various cltral incentives does that business get by coming to that rral community.
Targeted Industries: Has your community leaders singled out the type of businesses that would fit into the community, and/or have a desire to come and become a part of the community.
Public Opinion: Nothing will ruin a potential business deal faster, than a negative community opinion. Or one that doesn’t agree that expansion needs to happen.

One way to solve this very big problem, is take advantage of the fact that you are a small and rural community. Utilize the ability to get a broad message out to the majority of the population, with little to no effort. Educating your community on what is going, helps sway public opinion and can gather support.

Involving the various agencies and existing businesses that exist in the community, is also a step in the right direction in affecting multiple pieces for expansion. Once collaboration starts to take place, and progress in one area improves, it will start to effect the improvements of all the factors. But, unless these issues are all addressed together, it won’t make economic success impossible, but you are creating a steep and slope.

So reconnect with the small town community ideal – band together and make a difference.