What does an EDC do?
30 Aug 2022
Economic growth is the core of a community’s vitality. The ability of businesses to operate and flourish offers jobs for residents, increases financial opportunities, and improves the overall quality of life in an area. But starting and running a business is a challenging endeavor. From the established company to the entrepreneur looking to start, occasionally these businesses need assistance to achieve success.
Economic Development usually takes three forms:
- Business Attraction
- Business Retention and Expansion
- Business Creation
All three of the forms seek to create primary jobs that pay more than the average wage, increase the amount of income coming into the community from outside our market area, and create greater capital investment in our community. The goal is to attract a diverse group of industries and businesses to help insulate the community from economic shock in case specific sectors should fall on challenges. Economic Development Organizations, or EDOs’, are a resource for entrepreneurs with a dream but looking for the right direction to start. They also assist with workforce development and training options.
Since 2000, Ingleside Development Corporation has been helping business and community leaders with current economic development strategies and attracting new businesses to the area.
What is the Ingleside Development Corporation?
The Ingleside Development Corporation is a group comprised of seven Board members appointed by the Ingleside City Council, who oversee Type B sales tax proceeds brought into the City. The group consists of a variety of businesspeople and Council members who review expenditures and revenues of the tax dollars.
The City of Ingleside’s Economic Development Department’s purpose is to synergize and coordinate the Economic Development activities and programs aimed at the City of Ingleside specifically and in a targeted manner.
Ingleside Development Corporation helps forge close links between community and business leaders to help bring the economic, workforce, and community development of an area into the future. Here are the primary ways they can be a valuable resource to help businesses improve their operations and make Ingleside a wonderful place to work and live.
Business Retention and Expansion
Ingleside Development Corporation supports existing businesses because we recognize they are crucial to our local economy. We offer problem-solving services to help them succeed and grow. This might be as simple as offering advice and technical assistance. We also help companies access public and private financial assistance, such as low-interest loans or bonds not available to the general public, to enable renovations, equipment upgrades, or infrastructure improvements. Finally, we recognize the workforce is a business's lifeblood, so we can connect you with training opportunities to help your employees grow with you.
Support for entrepreneurs and small businesses
Ingleside Development Corporation is also a valuable resource for entrepreneurs and small business owners, providing advice, guidance, and resources for those starting new businesses. We offer integral services for early-stage businesses, such as business planning, site selection, and locating financing. From learning to manage the uncertainty of cash flow to make the community connections necessary to get up and running, they have the knowledge to help those getting into the local economic community.
Assistance with workforce development
Finding skilled workers is one of the primary challenges for businesses today. Continued development of that workforce is critical as well. Ingleside Development Corporation works with local partners to help find and maintain a strong local workforce. We work with local educational institutions to develop the specialized training required for your company. The result is a robust, resilient talent pool for businesses throughout Ingleside.
Marketing and promotion
Economic development organizations are at the forefront of marketing the community to attract prospective investors and residents. Ingleside Development Corporation promotes our community’s assets and business advantages in order to create awareness and opportunities. In addition, we have access to a network of community leaders and experienced business owners to facilitate the strategic planning of local stakeholders to develop long-range community plans.
Superior quality of life
The targeted result of EDO activities is the dedication to improving a community’s quality of life. Economic development goes hand-in-hand with community development projects such as adequate housing, and parks and recreation. These projects are part of the continuous circle of improvement for residents and businesses ensuring continued growth in Ingleside.
We are here for the Ingleside community
Ingleside Development Corporation can help businesses make the connections to address current stress points standing in the way of their current success. Please contact us today to access our wealth of information and resources to help your business grow.