Moving Forward Together

 

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Background

Two years ago, the CCEDC Board set out to revitalize and restructure economic development efforts in Carbon County.  They consulted other programs that have been successful in western communities like ours.  The result is a plan that captures best practices, but is tailored to the unique assets and challenges of Carbon County.  At the core of the restructuring plan are experienced, professional leadership; and strengthened and expanded Board to capture and utilize the expertise of our business communities; and a true public-private partnership to increase cooperation and provide the necessary assets to become and remain competitive.

Competitive Marketplace

Economic development has become a high-stakes competition among communities across our region and across the country.  Communities with active, well-funded economic development programs grow at three times the national average.  Communities either grow and prosper, or wither on the vine—treading water doesn’t work.

The Plan

The Moving Forward Together initiative will improve the economic performance and vitality of the County.  This requires a long-term commitment by the private and public sectors – business, industry, government, institutions, and individuals.

Holding CCEDC accountable for results is central to the success of Moving Forward Together.  Moving Forward Together will achieve the following five-year goals:

  • Assist in creating 200 new primary jobs and 242 total new jobs
  • Inject $9.4 million in new earnings annually
  • Generate $6.9 million in new personal consumption expenditures annually
  • Provide expansion services to 50 existing county companies
  • Attract jobs 10% higher in average wages

Regular review of the $737,000 five-year budget we are aiming for, including an annual, independent audit, will protect your investment.

Strategy 1 – Retention and Expansion of Existing businesses in Carbon County

Helping businesses that are already situated in Carbon County is the quickest and most affordable way to grow our economy here. By focusing on those businesses that have expansion possibility, but may lack one or two vital resources, we can unleash latent opportunities. Assistance will include creating a micro-loan fund for gap financing, business visitation, workforce recruitment and retention, and industry roundtable forums.

Strategy 2 — Business Recruitment

Moving Forward Together will identify, target and market to industries that leverage the natural strengths of Carbon County, while diversifying our economic base to lessen the impact of energy-based booms and busts.  Target industries will include, but not be limited to, light manufacturing, biomass, wind farm supply chain, data centers, industrial/mechanical services and warehousing/distribution.

Strategy 3 — Communications and Community Outreach

Moving Forward Together will be accountable to its investors. Regular communication and complete transparency will keep the public informed and safeguard your investment. An annual audit of spending and results will demonstrate Return on Investment (ROI). In addition, a committee of investors will provide regular oversight.

Return on Investment

How will the addition of 200 high-paying jobs impact investors in Moving Forward Together?  Two hundred jobs will mean $6.9 million in new consumer spending in the county each year, and $3.2 million annually in new banking opportunities.  This economic activity will be spread across all sectors of our economy, as illustrated below.

Job creation activities have an effect in two other key aspects of the local economy; earnings and consumer spending. Overall,the program will generate:

  • 242 TOTAL NEW JOBS
  • $9.4 million in TOTAL PAYROLL
  • $6.9 million in CONSUMER EXPENDITURES
  • $3.2 million in BANK DEPOSITS

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Public-Private Partnership

Currently, the CCEDC annual budget is based nearly 100% on public sector support from Carbon County and several local communities.  Our greatest business attraction resource—our existing business community—has not been at the table.  Under Moving Forward Together, CCEDC will be a true public-private partnership, capitalizing on the strengths of each sector.  Economic development will be successful if we work together–move forward together—in all aspects of retention and recruitment: investment, ownership, planning and execution.  In short, partnership.

Honor Roll of Investors:

Current list of investors can be seen by clicking on the following link: INVESTOR HONOR ROLL 2016 IN LEVELS

These communities and businesses are working together to improve the future of Carbon County and believe in Economic Development.

Conclusion

The growth and success of this region depends on businesses and community leaders working together, and investing together. We need to control our own destiny, and make things happen instead of waiting on times to get better. The time is now for all stakeholders to renew and strengthen their commitment to grow and sustain this economic region, maintain the strong asset base in place, take advantage of emerging opportunities and move the County forward. The choice is clear:  we can continue to ride the wave of the energy cycle, or we can take charge of our own destiny.  It’s our community; THE FUTURE IS UP TO US!