Build upon your community’s foundational assets and ensure readiness for growth. Be intentional and strategic about expanding your local economy while enhancing your community’s competitiveness.
Objective: Drive business growth and expansion opportunities.
Existing businesses are the number one source for new investment and job creation in any community. Local economic development organizations must have an existing business retention and expansion (BRE) program and applications that leverage new or innovative approaches to the use of BRE data will be considered.
Examples: supply chain analysis, targeted industry cluster analysis, local or regional business trend report including implementation strategy for key takeaways and virtual tours of speculative buildings and sites
Objective: Pursue innovative technology in manufacturing and targeted industries.
The fourth industrial wave is upon us and the use of technology to increase efficiency and competitiveness is the way of the future. Leverage opportunities to collaborate and support the implementation and rapid adoption of new technology for businesses in your community.
Examples: technology enhancements or training, e-commerce, big data analytics, connectivity, automated manufacturing, solutions for automated inventory management
Objective: Increase the number of sites available for industrial development.
Prepare communities for new business investment. Having land that is under control with encumbrances identified and mitigation strategies in place will position a community above others when competing for business growth.
Examples: site certification due diligence, securing land through property options
Objective: Create communities of choice through place-making.
Place-making builds culture and creates a valuable connection between a community, its residents and businesses. Projects must include specific and measurable goals that demonstrate unique planning initiatives.
Examples: regional economic development strategic planning, digital marketing, advertising, branding and analytics, aerial photography, drone footage, industrial site marketing collateral and strategy
Note: website creation or content updates are not eligible