For some communities, individual economic development organizations are not something that they are able to utilize to the best of their abilities. Because of that, regional economic development organizations are sometimes able to fill the gap in towns or cities, helping them grow without some of the added stress.
Jesse Fonkert with Sioux Metro Growth Alliance explained that regional economic development organizations can be a huge benefit to communities, utility partners, and other for-profit entities. Some of those benefits include saving dollars by sharing resources, having a partner to help with business attraction and property management, and building strong relationships with neighboring communities.
“They are a resource that can help solve issues regarding growth, connect communities with each other, advise on community development issues, help manage prospects, and more,” he said.
Fonkert noted that for a community interested in creating a regional group, they need to first determine what region they consider themselves in.
“Next it would be reaching out to the counties, communities, and utility companies in that area to gauge interest in the concept,” he continued.
For more information reach out to GOED's Partner Relations team.