Remaining competitive in today’s global market requires proactive planning. This can be done through developing a clear economic development strategy that is focused, realistic and anticipates the needs of businesses and residents.
While the best economic plans derive from a proactive process where the planning begins before distress occurs, some communities cannot be so lucky and the planning often begins after a large plant closing or a substantial job loss.
Reveille has help communities of all sizes become more immune to these economic hiccups or to readjust after a traumatic economic loss event. Many of these plans have been used by these impacted communities to receive additional grant and funding assistance from the Economic Development Administration, a division of the U.S. Department of Commerce.
Just ask the residents of Ottawa, Ohio. They asked our team to help draft an economic adjustment strategy to help mitigate the recent loss of 1500 jobs, when Phillip’s Display Components moved to Mexico. When the strategy was completed, we followed it up with a grant application to the US Department of Commerce’s Economic Development Administration (EDA). After a successful grand submission, Village and County officials were presented with a $1.725 million dollar grant to help build a Skilled Learning Center, with the main purpose to make the local workforce more employable. The EDA spotlights the Skilled Learning Center as a best practice to be emulated.