Recognizing Economic Developers in May
Thursday, May 07, 2020
May 4-9 is International Economic Development Week (EDW). It’s an opportune time to reflect on the importance of local economic development efforts in building a vibrant and sustainable community. In Upton, economic vitality starts at Upton Economic Development Board (UEDB).
The International Economic Development Council (IEDC) created EDW in 2016 to help raise awareness for the profession. Economic Development Organizations (EDOs) are often misunderstood because their activities happen behind the scenes, outside of the public eye.
EDW is a chance to recognize economic developers, local leaders and organizations that work to recruit investors, develop businesses, create jobs, enhance the tax base and ultimately improve the quality of life of their communities.
Did you know that UEDB provides a comprehensive range of critical services geared towards building the local economy and supporting area businesses?
Here are some of the primary ways EDOs like UEDB work to enhance our communities:
Support for entrepreneurs and small businesses
EDOs and their partners such as the Northeast Wyoming Small Business Development Center, are a valuable resource for new and developing companies. From advising on basic topics like business planning to helping find a location and identifying financing, these services are integral to helping early-stage businesses succeed.
Business retention and expansion
Because existing businesses are crucial to local economies, EDOs offer services to help them problem-solve, succeed and expand. This might be as simple as offering advice or technical assistance. Or it might entail helping a company access funds to enable renovations, equipment upgrades or infrastructure improvements.
Assistance with workforce development
Finding skilled workers is one of the primary challenges for businesses today. That’s why economic developers work closely with economic development colleagues to help build and maintain a strong local workforce. EDOs commonly help companies with recruitment as well as the development of specialized training for in-demand jobs.
Providing funds for businesses
Economic developers are knowledgeable about business financing and sourcing. They can help new and existing businesses identify the capital and incentives they need to start-up and grow. Resources are available for the Upton, Wyoming area at the uedb.org website, or you are welcome to contact Stephanie Salazar for assistance at firstname.lastname@example.org.
Marketing and promotion
Economic developers are at the forefront of marketing their towns and regions to attract prospective investors and residents. They are experts at promoting a community’s assets and business advantages in a global marketplace. UEDB is assessing specific target industries in which to look for new business that are compatible with existing employers, and therefore have compatible skill sets. Tiger Transfer, Upton’s logistics center is a nationally-recognized, BNSF certified transload facility, that is shovel-ready 600 acres open for business.
Learn more about Upton Wyoming’s Upton Economic Development Board, and how we’re working to promote and strengthen the area economy at uedb.org.