What is economic development?

Economic development means different things to different people. On a broad scale, anything a community does to foster and create a healthy economy can fall under the auspice of economic development.  Economic Development generally includes the following primary initiatives:

  • Business Retention and Expansion
  • Business Attraction
  • Business Creation

All three of the forms seek to create primary jobs that pay more than the average wage, increase the amount of income coming into the community from outside our market area, and create greater capital investment in our community.  

Other areas that play a key role in economic development are:

  • Downtown Revitalization
  • Workforce Development & Talent Attraction
  • Tourism
  • Quality of Life

Show All Answers

1. What is economic development?
2. Why does economic development matter to my business?
3. Why is Economic Development Important?
4. How do I start a business?
5. How do I find out about available commercial or industrial property/buildings?
6. What new businesses are coming to Eagle?