Economic development creates revenue. Mainstreet Growth specializes in economic development and marketing for smaller communities. We believe that protecting your tax base through business retention and growth is the number one priority for communities today. We can assist with formulating and executing a strategy that keeps your existing businesses viable and growing while assisting in the attraction of new business. We provide marketing guidance for attracting the small local moves that are most common in today’s economy. We can assist with utilizing and coordinating existing regional and state agencies for the attraction of larger projects. It’s our view that a lot of economic development is marketing. We can assist in marketing your community to your existing businesses and residents and attracting new business and residents. Here are some of our ideas.
The Basics Explained- What is economic development and what can it do for my community? Economic development, especially for the smaller communities, has shifted focus to retention and growth of existing business. Unless your community has nothing but vacant land for development, keeping your tax base with existing business should be your first priority. We can help you assess your situation.
Demographics – There are many sources of data to help understand who you are and what your neighboring communities' situation is. Do you know your population, mean age and mean income? Do you market to them? Do you provide the services they want?
SWOT Analysis – A survey of department heads and local business leaders can help you understand the strengths, weaknesses, opportunities and threats of your community. You may be surprised at what you already have. We can assist in telling your story.
Local Business Needs Assessment – Interviews and/or round table discussions with small business owners will identify what is needed to promote growth in your community. A Mayor’s breakfast may help to get the message out that you are concerned about business. Results of the needs assessment will lead to the next steps.
These next steps may include: Small business growth sessions - engaging SCORE, COSE or your local Chamber as well as an often overlooked resource, the local library.
Branding - Your Story (Who is ….) Create a consistent message and tell the world!
Web site, Social Media, apps, etc.- What is needed depends on the demographics of your residents and businesses and your goals.
Advisory Board Creation - Engage local business leaders, provide input on business related issues. Be a sounding board for policies related to business. Maybe you can utilize this idea to engage citizens and business leaders.
What does all this really mean for you and your community? We roll up our sleeves and use our experience to assist you and your community in mapping out its future. This doesn’t work without your leadership and involvement, but together it can provide a strategy and roadmap to take you from where you are today to the next level, whatever that may be.