Recognizing Leaders During National Economic Development Week
Friday, May 01, 2020
Now, more than ever, we are in need of leaders to guide our communities through COVID-19 challenges and to create a plan for how to come out of this national crisis. Wyoming’s economic developers are those leaders. WEDA acknowledges your efforts and the dedication you have to improving and growing the communities throughout our state. National Economic Development Week is for you.
The International Economic Development Council (IEDC) has set May 4 - 9 as the 2020 National Economic Development Week #EconDevWeek. This is the fifth Annual Economic Development Week campaign and an opportune time to reflect on the importance of local economic development efforts to building a vibrant and sustainable Wyoming.
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, the local leaders and organizations who work tirelessly to recruit investors, develop businesses, create jobs, enhance the tax base and ultimately improve the quality of life of their communities.
What Wyoming Economic Developers Do to Improve the Economy
Here are some of the primary ways economic developers work to better our community:
Improve quality of life
Economic developers work on important quality of life projects to support the development of additional housing units, parks and recreation, downtown initiatives, etc. These projects ensure that residents enjoy living in Wyoming and that our state is welcoming so that we can continue to grow.
Support for entrepreneurs and small businesses
Economic development organizations are a valuable resource for new and developing companies. From advising on basic topics like business planning to helping find a location and identify financing, these services are integral to helping early-stage businesses succeed.
Business retention and expansion
Because existing businesses are crucial to local economies, we 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 local partners to help build and maintain a strong local workforce. Economic development organizations and local partners help companies with recruitment as well as the development of specialized training for in-demand jobs.
Marketing and promotion
Economic development organizations are at the forefront of marketing our community to attract prospective investors and residents. We promote our community’s assets and business advantages in order to create awareness and opportunities.
WEDA encourages economic development organizations to share how they are working to strengthen the economy!