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Copy of Mayor’s Council on Economic Development

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Rachel Prince

on 23 June 2011

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Transcript of Copy of Mayor’s Council on Economic Development

Mayor’s Council on Economic Development What is the Council?
Made up of only Mayors
An open forum to brainstorm and share knowledge

-A mayor is uniquely positioned to know the assets of his or her city AND is the only person who can speak from that vantage point Topics/Issues:
Using our “voice” as Mayor to further economic development
How do we be the best first point of contact that we can be?
How to prepare an “elevator speech” for our communities
Have a question? Someone on the Mayor’s Council will have an answer or resource for you
Developing a trust factor with neighboring communities Other Tools:
Department of Commerce – Regional Contacts
Partnerships
-Schools – K12
-Higher Education
-Electric Utility
-Other Cities
Local Resources
- Bankers
- Commercial Real Estate Brokers/Realtors
- Investigate all incentive options Elevator Speech:
Effective short message that includes a few of the above assets that make your community attractive Economic Development Process
Familiarize yourself with the economic development process in your community. Recognize the point of contact for economic development and meet with them regularly Parternships:
Consider forming partnerships with other towns around you to combine workforce for primary jobs
Partnerships are the key to making economic development in your community happen
Know that legislation that affects jobs and growth in your city. Know the issues and fight to keep the tools you need.
--Example - tax credits are important to gain needed equity for projects, and the legislature is considering killing several different types...make sure it is not the ones you need.
Unfunded mandates - handed down from EPA to DEQ to cities - be sure you step in to fight. Know your land:
Know zoning
Be aware of available land in your community
Work with commercial real estate brokers
Have an available property list As Mayor we need to know:
--Our communities assets
Largest employer or employer base
Demographics
Municipallyowned electric utility?
Availability of commercial land
Higher Education and/or University
Unique geography or citizenry Economic Development Process
Familiarize yourself with the economic development process in your community. Recognize the point of contact for economic development and meet with them regularly
If you don't have a point of contact - then become that point of contact Know Your Land:
Know zoning etc about the land available in your community
Work with commercial real estate brokers
Have an available property list Mayors are uniquely positioned to be the chief economic developer for their cities. Make friends of those who know more than you. Learn all you can - from other mayors, from chambers of commerce, from neighboring cities, and from experts.

IT'S YOUR RESPONSIBILITY.
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