Local economic development is crucial to encouraging growth, creating jobs, and ensuring that residents have a better quality of life. This often involves cities investing in initiatives and companies that promote local economic development. In this blog, we'll review why local economic development is critical for cities.
More Employment Opportunities
When local economies thrive, it results in more jobs and the unemployment rate decreasing. This will then attract more businesses, leading to companies and entrepreneurs flocking to the city. Overall, it creates a cycle that continuously encourages business growth.
Increased Tax Revenue
When cities have economies that are thriving, they are able to enjoy more taxes being paid. That increased revenue due to business growth gives them more funding for projects like paving roads, creating parks, and even upgrading the sewer lines. When cities are able to upgrade infrastructure to create a better living environment, it attracts new residents to the city.
Better Quality of Life
According to OECD, the purpose of local development is to improve its economic future and the quality of life for inhabitants. There are several ways inhabitants will enjoy a better quality of life. Neighborhoods will have easier access to goods and services. City upgrades will eventually include things that make people happier, such as cultural activities and recreational activities, like skate parks.
Increased Community Engagement
As local communities take the steps necessary to encourage growth, residents will become happier and more engaged in the local economy. They will be more likely to volunteer and support your projects. Locals will begin to take pride in their community and want to participate in its growth. Collaboration, networking, and more business growth will follow.
Encourage a Stronger Economy
Relying on a sole industry can spell disaster for small economies because it makes them more susceptible to market fluctuations. However, when you encourage economic development, it leads to diversity in the economy. This diversity will help the economy thrive, even when there's a downturn.
Reducing Carbon Footprint
Communities that take the time to develop modern businesses slowly decrease the environmental impact they have. This is because modern businesses are already making an effort to be more energy efficient. As this trend continues, you'll notice that the area is more attractive to businesses and residents.
Investing in your local economy is necessary to help your city thrive into a sustainable city with happy residents. Contact Haines City Economic Development Council to learn more about how we are making an impact on the Haines City community.
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Haines City EDC receives $25,000 Duke Energy Marketing Grant
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Can Economic Development Grow Your Business?
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Haines City EDC President, Cyndi Jantomaso, Featured in Florida Trend Magazine's Leadership Insights
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Support Our community take the SunRail Expansion to Polk County Survey
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CRA - Business Workshop
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Duke Energy Awards Haines City, Economic Development Council
Haines City EDC Staff
11/11/2022
State Leaders Recognize September as Workforce Development Month in Florida
Authored by CareerSource
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Cyndi Jantomaso Haines City EDC honored to be Florida’s Advocate with GoRail.
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The City of Haines City for February/March 2022
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2022 Job Fair & Career Expo
Authored by CareerSource
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Haines City Planning to Expand Industrial Area
Posted by Haines City EDC
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AdventHealth, Bond Clinic collaborate to meet growing health care demand
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Florida Chamber of Commerce Survey
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Carvana Seeks to Hire 150 Employees for Haines City
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Cyndi Jantomaso Wins Larry Miller Award
Posted by Haines City EDC
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Commissioner Bill Braswell Discusses Industry
Posted by Haines City EDC
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Thank you to all of our Board Retreat Sponsors
Posted by Haines City EDC
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From Governor DeSantis: Executive Order 21-101
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Trez Capital Finances Land Acquisition and First Phase of Development of Central Florida Community
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Polk State Corporate College: Manufacturing Industry Certifications Coming in May
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Help is Here - Resources for Business and Career Seekers
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Polk TPO seeking members for Transportation Priorities Subcommittee
Posted by Haines City EDC
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GoRail: Annual Report 2020 in Review
Posted by Haines City EDC
3/15/2021
Polk State enrollment for Summer 2021 Semester starts March 29
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PCU warns of water treatment scam call
Posted by Haines City EDC
2/18/2021
