TRUE OR FALSE:
Economic development is always a long-term process.
TRUE
When cities and towns pursue an economic development strategy, they cannot expect a short-term process or to have all of their hopes fulfilled through a one-time project.
Leaders should instead expect a continuous process and should drive it with a sound, formalized economic development plan. Such plans provide a comprehensive overview of the local economy, sets policy direction for economic growth, and identifies strategies, programs and projects to improve the local economy.
Several economic development topics are covered in the Handbook for Municipal Officials in South Carolina, such as grants available through the Rural Infrastructure Fund, incentives through the Textile Communities Revitalization Act and incentives through the Abandoned Buildings Revitalization Act.
The Municipal Elected Officials Institute of Government offers in-person and online courses. “Municipal Economic Development” will next be offered in-person at several regional councils of governments locations on September 19.