2014.03.11 EDA Agenda Packet - Laserfiche WebLink

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Economic Development Strategises Strategies are essential public policy priorities that precede goals and action steps. Typically they are long-term in -nature and are fairly constant in their intent and pursuit. The optimal way to introduce strategies is through the eight functional economic development categories that emerged from the stakeholder input process. The eight categories reflect the marketplace of opportunity for the County and general consensus is it makes good common sense to use these designations as the foundation for the strategies. The strategies are not ranked in order of importance.' Each strategy is followed by a couple goals. Goals are a measurable and desired activity, project or purpose that requires resources (time and/or money). Action steps are individual steps and activities necessary to implement a goal, accomplish a strategy, operationalize the mission and fulfill your vision. Specific action steps are continuously evolving and changing as they are completed. The role of local government in economic development must be viewed in both a short- and long-term perspective. In this, Washington County's first economic development strategic plan, the focus is on short-term actions that support and sustain a long-term investment. 1 For additional information and details on each strategy please read the December 12 and January 28 Board documents. Washington County Economic development strategic Plan 2014 Page 8 Organization 1)escripflon Board Economic EDAs were created to facilitate a well-rounded development County appoints Development program by taking advantage of some of the Port Authority Commissioners — if a Authority powers and all of the HRA powers. By combining and utilizing 5 member board, at (EDA) HRA, EDA and County powers, community leaders are able to least 2 County create flexible business assistance and development programs. Commissioners must EDAs for example, are allowed, to buy and sell property; make serve loans and grants to businesses; provide guarantees or other credit enhancements; and to sell bonds. Although Economic Development Authorities were originally designed to meet the needs of cities, special legislation has been granted to several counties to establish economic development organizations, in addition to housing authority powers, or Community Development Authority's. The EDA may employ an executive director and other staff. Housing An HRA is a legal entity created by a City Council, County or County appoints Redevelopment Area to provide a sufficient supply of adequate housing for Commissioners; HUD Authority low -to -moderate income families and individuals. They are requires a (HRA) / also charged with clearing and redeveloping blighted areas Commissioner to be a Community throughout the community. The board may be a citizen's panel, participant in the Development the County Board or a combination thereof. HRAs also have Housing Choice Agency limited powers that may be used for business development. Voucher Program or Special legislation has been used to add economic Public Housing development powers to become a community development Program where the agency (CDA). May require additional staff at the HRA. HRA acts as Public Housing Authority, Economic Development Strategises Strategies are essential public policy priorities that precede goals and action steps. Typically they are long-term in -nature and are fairly constant in their intent and pursuit. The optimal way to introduce strategies is through the eight functional economic development categories that emerged from the stakeholder input process. The eight categories reflect the marketplace of opportunity for the County and general consensus is it makes good common sense to use these designations as the foundation for the strategies. The strategies are not ranked in order of importance.' Each strategy is followed by a couple goals. Goals are a measurable and desired activity, project or purpose that requires resources (time and/or money). Action steps are individual steps and activities necessary to implement a goal, accomplish a strategy, operationalize the mission and fulfill your vision. Specific action steps are continuously evolving and changing as they are completed. The role of local government in economic development must be viewed in both a short- and long-term perspective. In this, Washington County's first economic development strategic plan, the focus is on short-term actions that support and sustain a long-term investment. 1 For additional information and details on each strategy please read the December 12 and January 28 Board documents. Washington County Economic development strategic Plan 2014 Page 8