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April 23, 2015 Joint Elected Boards meeting

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Chatham Economic Development Corporation 2015-2020 Strategic Action Agenda presentation, given at the April 2015 joint elected officials meeting at Central Carolina Community College.

To view the full strategic plan, visit www.chathamedc.org. Printed versions are available at the EDC office.

Publicada em: Governo e ONGs
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April 23, 2015 Joint Elected Boards meeting

  1. 1. Economic Development Strategic Action Agenda 2015-2020 JOINT ELECTED OFFICIALS 4/23/2015
  2. 2. Agenda • Purpose & Process • Current Reality and Trends • Competitive Strengths and Weaknesses • Desired Economic Future • Strategic Recommendations to Achieve Goals
  3. 3. Purpose & Process STRATEGIC ACTION AGENDA 2015-2020
  4. 4. Purpose • Five-year plan to guide work • Realistic actions • Align with county and town goals
  5. 5. Process • Establish economic reality • Determine desired future • Identify actions to reach desires
  6. 6. Current Reality & Trends STRATEGIC ACTION AGENDA 2015-2020
  7. 7. Economic • Significant job loss • Low unemployment • 55% out-commuting • Sales tax leakage
  8. 8. Demographic • More educated • Second fastest growing county • Older, richer • Uneven distribution
  9. 9. Land and Buildings Residential $6.5 Billion 77.13% Present-Use $1.2 Billion 13.92% Commercial $0.6 Billion 7.49% Industry $0.1 Billion 1.46% Other $0.0 Billion 0.00% Total $8.4 Billion 100.00% Residential Present-use Commercial Industry 91% 9%
  10. 10. Global Trends Impacts • Urbanization and Globalization • Rising workforce requirements • Technology and automation • Freelance economy • Public austerity
  11. 11. State and Regional Economy Impacts • Highly competitive Research Triangle Region • On-going growth pressure • Limited growth in the Triad • Huge urban competition • State motivation to spread opportunity to more distressed counties
  12. 12. Competitive Strengths and Weaknesses STRENGTHS • Strong regional growth • Central location • Educated population • Quality of life • Strong community college WEAKNESSES • Infrastructure • Few site and building options • Absence of skilled employees • Multiple disparities • Tier 3 ranking
  13. 13. Desired Economic Future STRATEGIC ACTION AGENDA 2015-2020
  14. 14. Ten Community Goals and Priorities • Generate more in-county jobs • Retain County’s rural character • Strengthen vitality of downtowns • Diversify the tax base • Increase retail sales tax revenues
  15. 15. Ten Community Goals and Priorities • Improve education credentials and skills • Promote and support small businesses • Promote local agriculture and arts businesses • Expand county revenue from tourism • Create economic opportunity in all parts of the County
  16. 16. Five EDC Goals • Diversify and increase funding • Maintain strong board and private sector input • Maintain county-wide support and engagement • Position EDC as the economic thought leader for Chatham County • Maintain and distribute metrics
  17. 17. Strategic Recommendations to Achieve Goals STRATEGIC ACTION AGENDA 2015-2020
  18. 18. Strategic Recommendations 1. Improve Chatham County Physical Product • Shovel-ready and certified sites • County-wide infrastructure planning • Buildings and sites database
  19. 19. Strategic Recommendations
  20. 20. Strategic Recommendations 2. Increase Business Support • Annual business climate study • Annual business tour for elected officials • Business recognition and awards program
  21. 21. Strategic Recommendations 3. Maximize Synergies to Generate New Clients • RTRP & EDPNC • Chatham County incentives policy • Informational content on business activity
  22. 22. Strategic Recommendations 4. Lead Transition to a Demand-Driven Workforce Approach • Survey businesses on workforce issues • Triangle South Workforce Development Board • Labor market information
  23. 23. Strategic Recommendations 5. Expand EDC Capacity • Global, state and regional economic trends • Economic dashboard • Expand private sector funding and board representation
  24. 24. Get Involved www.chathamedc.org Sign up for our newsletter and stay in touch with social media Dianne Reid President, Chatham EDC dreid@chathamedc.org 919-542-8274

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