Over the past many decades the US Department of Commerce had had several agencies that played a vital role in the planning and funding of local, state and regional economic deelopment programs and industral growth and development and in assisting and financing the growth and development of small business firms.

They are  The Economic Development Administration

                   The Small Business Admiistration 

 BAD NEWS 

Over the past several years, unfortunately, these agencies, EDA and SBA, saw federal drastic cuts in the levels of their former funding and former employment levels. 

GOOD NEWS?

Many professional planners and governmetal officials now anticipate that this may change with the possible change in the federal administration.

However, even with a change in the administration and renewed funding and employment levels, it may take 12 to 18 months for local communties, states  and regional entities from seeing any relief, planning grant funds and capital improvement funds. 

INNOVATIVE AND CREATIVE ECONOMIC DEVELOPMENT PROGRAMS

Today many communties and some  private firms are economically and financially suffering because of the consequences  of globalization,  the high cost of gasoline and heating fuel, and the low-value of the dollar.

We recommend that some communties become more pro-active in their economic development research and short and long range economic development plans.

The wait for federal or even state funds could take years.

Communties, or clusters of communties together with , non-profit organizations ( such as the local Chamber of Commerce) could form positive working alliances along with with private sector firms and financial institutions and both private and public universities to begin to find  short and long range economic development solutions.

This will require a total cooperative spirt.

It may require private  and public  capital or even fund raising efforts.  

ECONOMIC DEVELOPMENT DEFINED:

"Economic developmernt is the development of economic wealth of regions, or communities, for the well being of their inhabitants. From a policy perspective, economic development can be defined asefforts that seek to improve the economic well-being and quality of life for a community by creating, or retaining jobs, and supporting incomes and the tax base." 

 HISTORY OF ECONMOMIC DEVELOPMENT  In the US, economic development activities, first began under the umbrella of the early Urban Renewal Programs of the 1950's.   It was a post War federal program designed at the rebuilding of many of the nation's cities.This program was somewhat parrell with  massive the Federal Highway Act which successfully developed the major highway systems.In the 19060's  and 1970's the former Urban Renewal become the Community Development Program. It has been under the Community Development Programs and EDA, SBA and other HUD programs that began the overall economic development activities that resulted in the planning and development of many industrial and R&D parks nationwide.  HOW WE WORKWe can provide advisory services either a contract basis, consultant agreement and on a fixed fee or per diem/week /month basis.