The Wayne Economic Development Council has been hard at work the past few months, developing a strategic plan that will guide our organization's efforts over the next three years.
As we all know, Wayne County is a special place to be. We have a robust and thriving manufacturing sector, diverse business sectors and strong agricultural emphasis. As we continue to focus on economic growth, we find ourselves coming back to one word, balance. Wayne County is a great place to live, work, grow and do business, and we want to keep it that way. It is our goal to help Wayne County achieve economic prosperity while preserving what makes us special.
In June, we partnered with Brad Whitehead, Whitehead Advisory, an independent consulting company with vested interest in Northeast Ohio, to evaluate, access and plan for the upcoming years.
We are pleased to announce that our 2023-2026 Strategic Plan has been submitted to our Board and Advisory Council members and is awaiting feedback. In the meantime, we'd like to share some of our initial findings and future plans.
Our work was broken into three phases; 1. Situation analysis, 2. Evaluation of findings, and 3. Plan of action.
Situation Analysis
To understand where Wayne County is as a community and where the WEDC stands as an organization, our team performed a detailed analysis. The work included accessing the current economy – both locally and nationally – as well as gathering input from many local leaders and regional economic development partners.
Evaluation of Findings
Some of the key takeaways from the situation analysis are listed below.
Uncertain Macroeconomic Picture
Continued tight labor market
Persistent high inflation
Significant Federal/State funding available for innovation and workforce
Strength of Local Economy
Wayne County outperforming others in Ohio
Economy centered on robust manufacturing and agriculture/dairy is potential upside
Constrained labor market, entry-level housing shortage and limited industrial expansion space
WEDC Valued Contributor
Mission
Partner, Promote, Prosper
The Wayne Economic Development Council is a business-led, public private partnership that maintains and promotes the strength of Wayne County’s cities, villages and agricultural areas. By aligning and engaging key stakeholders, the WEDC fosters balanced and sustained economic growth and prosperity for Wayne County and addresses issues critical to its competitiveness.
Vision
The Wayne Economic Development Council is a leading and collaborative go-to organization that contributes to Wayne County’s national recognition for achieving high quality growth that benefits both businesses and residents while maintaining a balance between industry, agriculture, commercial and residential development.
Plan of Action
Wayne County is currently in a strong position, both financially and economically. Our strategic plan for the next few years is focused on building upon this momentum and ensuring that our county remains an attractive place to live, work and raise a family. Our plan is comprised of the following initiatives that will ultimately tackle the issues stated above.
Cultivate, connect and align networks within and beyond Wayne County
Support business development with particular attention to retention and expansion
Drive a focused set of issues key to Wayne County's future competitiveness
Specific action plans are being developed to address each priority area, and we look forward to executing and implementing these plans in the months/years ahead.
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