News & Posts

4 Ways Economic Development Councils Drive Job Creation
Tuesday, April 9, 2024 by Haines City EDC Staff

You likely know that economic development councils play a major role in bringing new jobs to your local community. But do you know exactly how they accomplish that? Here are some key ways these organizations help drive job creation, with a special focus on workforce development.

  1. Getting to Know Your Local EDC
    Before diving into the finer details, let's cover the basics. Economic development councils (EDCs) are public-private partnerships between local governments, businesses, educational institutions, and community organizations. Their goal? To foster economic growth and opportunity in their region. This includes attracting new employers, supporting local entrepreneurship, and ensuring there is a skilled workforce development pipeline to meet talent needs.
     
  2. Scouting Out New Employers
    One major task for EDCs is scouting out potential new employers that would be a good fit for the community. This involves attending industry conferences, building relationships with site selectors, creating marketing materials that showcase the area's advantages, and responding to leads that come their way. When an interested prospect emerges, the EDC serves as the main point of contact to address questions, highlight workforce development training programs, and negotiate potential incentives to seal the deal.
     
  3. Supporting Workforce Development Pipelines
    Recruiting new employers is only worthwhile if there is a workforce development pipeline in place to meet their talent needs. EDCs play a pivotal role on this front. They partner closely with local high schools, community colleges, universities, vocational training providers, and workforce agencies to analyze the skill gaps within the labor pool. Based on the gaps, the EDC helps establish customized training initiatives so residents can gain qualifications that match what target industries are seeking.
     
  4. Providing Resources to Local Employers
    EDCs provide resources to nurture and retain existing local businesses. This involves connecting them with higher education institutions and workforce development programs to assist with training current employees. According to Lorman Education Services, in order to remain employable, 74% of workers are willing to learn new skills or re-train. By supporting the growth and talent needs of homegrown businesses, EDCs help these job creators continue expanding their workforces within the community.

In today's fast-changing global economy, economic development councils provide valuable leadership to boost job creation and align workforce development with employer needs. This directly translates to more careers, economic mobility, and prosperity for local residents. So, next time you hear about a new company coming to town or a training program opening doors for better jobs, recognize there's likely an EDC behind the scenes making it happen. If you're looking for assistance in developing a business, contact the Haines City Economic Development Council today.


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