What Happened?
Glen Falls and EDC Warren County in New York have decided to launch a collaboration of economic development groups to make better use of available resources while spurring development in the region. EDC Warren County was a private organization that recently went public so as to work in tune with local government agencies in Glen Falls.
The Goal
By going public, EDC Warren County aims to increase transparency and overall efficiency. The economic development group is amending its bylaws so as to be in compliance with the Public Authorities Accountability Act which governs public authorities, local development corporations and industrial development agencies in New York State.
One component of the Public Authorities Accountability Act calls for all meeting agendas and documents to be made available to public so residents and local businesses are aware of what is being discussed and decided upon. The economic development group must have all financial statements certified, as well as call in an independent organization to conduct an audit once a year. The organization hopes to conduct all planning meetings in conjunction with local government agencies to accelerate decision making and reduce wasted time and resources on redundant activities.
NC Economic Efforts
In Kinston, North Carolina, the state government is shifting funding from regional economic development groups to the Department of Commerce. As a result, The state’s Eastern Region is taking strides to become a private nonprofit and refocus its mission to better serve the 13 counties it works with in the region.
The top priority of the economic development group is to attract commerce to the area through increased exposure to training opportunities for local workers. If residents have stronger work skills and experiences in various jobs, businesses will be attracted to the area and the insight provided by local workers. When determining where to launch new business, many companies are weighing the benefits of a strong knowledge base in the community, which can be boosted through workforce talent strategies.
The Initiative
As a result of a growing need to remain competitive, the economic development group created a workforce skills program to prepare residents for new job opportunities moving to the area. The organization has invested $1.25 million over the past five years in workforce development initiatives, which received a 73.6 percent positive response from local businesses.
Repeat Successes
The city of Covington, Virginia, has opted to contact the Roanoke Regional Partnership again to renew its membership in the economic development group. When the recession hit, Covington was forced to leave the organization. But as of late, the Covington City Council has realigned its gaze on boosting economic development and wishes to achieve these goals through partnerships within the group.
Limited resources can be more efficiently utilized when allocated to a collaborative project involving regional entities looking for long-term sustainability. By joining the economic development group, Covington will be able to increase job opportunities and business activity while operating on a tight budget.
T is for Teamwork
Gov1 has kept a close eye on municipalities investing in shared services projects and other collaborations to reduce waste and increase opportunities.