3 Economic Development Concepts That We All Need to Be Embracing in Monona County

May 15, 2019
May 15, 2019 admin

3 Economic Development Concepts That We All Need to Be Embracing in Monona County

Quality of Life Development
This development model is based on raising the quality of life and the welfare of everyone. This means investing in health, technology, trails, parks, access to the outdoors, and social centers. According to the American Planning Association, well-designed parks and trails boost property values and increase municipal values. They also attract skilled workers, affluent retirees, and homebuyers. Proximity and access to parks, open spaces, and recreation also increases home, land, and business values contributing to the overall economy.

Main Street Focused Development
It is becoming more important to think about our downtowns as central social districts and not simply business districts. A community thrives when we can create a downtown district where people not only do business, but also decide to live, gather, and celebrate with loved ones. Revitalizing downtown as a new social district is also about becoming part of a placemaking movement. Placemaking is about taking back public space and creating a safe and attractive environment where people want to be. This is the basis for businesses to benefit from a new concentration of individuals. A case study in Central City, CO showed that retail sales for businesses along a sustainable new street – with traffic calming, tree plantings, and improved pedestrian facilities – outperformed two comparable streets by 25%.

Economic Gardening = Job & Business Growth
Economic gardening concepts are becoming more prevalent, especially in rural areas where multi-million-dollar companies relocating hundreds of jobs is unlikely. Economic gardening is what happens when development organizations, such as Monona County Economic Development, stop looking for a single company with 100 jobs, and instead, identifies and assists 10-15 smaller companies that already exist in our area to grow 5-10 jobs each.

When it comes to economic development in rural areas, there is no single strategy that works in every scenario, but together, there is much we can do to improve supporting jobs and the economy. We can create destinations people want to live in, work in, and visit. We can attract newcomers and investments with well-designed parks, trails, and streets. We can keep a close eye on our workforce as well as manage the land
surrounding us wisely. Finally, we can empower small businesses to take small strides toward huge growth.

Monona County Economic Development Partnership is a public-private funded 503c organization. To continue our efforts, we depend on support from our county, cities, businesses, and individuals of Monona County. Call us at 712-433-4493 or visit discovermononacounty.org/partners to find out how you can contribute monetarily to keep this organization and growth in Monona County

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