October 14, 2014
The Marshall County Economic Development Corporation (MCEDC) has launched a long range strategic plan focusing on strategies and tactics for guiding economic growth initiatives and diversifying the economy in the county. It is the first formal countywide economic development plan to be implemented by MCEDC and its partnering agencies.
The plan, which can often take an economic development organization a year or more to formulate, was developed this summer by MCEDC staff and its Board of Directors. Strategies within the plan are based upon input gathered from our local business community with the help of volunteers using Business Expansion and Retention (BEAR) survey questions.
Bill Davis, President of the MCEDC Board of Directors, stated, “The strategic plan is a long range plan that will act as a blueprint for MCEDC for the next 5 to 10 years. It is a living plan. Once executed, MCEDC will periodically revisit and adjust the plan based upon best practices and organizational metrics.”
The general outline of the plan highlights four specific programs including:
1. Business Expansion and Retention (BEAR) – Using best practices and a structured interview process, MCEDC will uncover expansion opportunities, assist in these expansions and will work to improve the business climate.
2. Business Attraction – MCEDC will market the county and municipalities while developing business assets to attract specific targeted industries to expand a well-established industrial corridor.
3. Entrepreneurial Hub – MCEDC will act as the catalyst to develop and cultivate regional innovation and entrepreneurial activity.
4. Workforce Development Program – MCEDC, with area partners, will develop an immediate plan to address the availability of workers and will partner with others to ensure that our future workforce has the skills that our employers require.
Launched in early June, the BEAR program involves a structured one-on-one interview process with business executives from local manufacturers. Forty-two BEAR interviews were conducted over the summer months.
Additionally, the recent launch of the MCEDC website with improved messaging and functionality is yet another tactic that will allow MCEDC to reach goals within its strategic plan.