Services - How to build a local economy
Every community in the United States has the ability to improve its local economy, enriching the lives of the people who live and work in the area.
Unfortunately, most community and local government leaders do not know how a local economy works or how to improve it.
For more than twenty years, POLICOM has advised communities on how to improve their local economy.
Through a series of studies and educational presentations, the current economic condition of an area is measured, what has caused the situation is determined, and ideas and solutions to improve the "economic quality of life” are created.
Step 1: Determine the condition of your economy - Historical, Comparative Economic Analysis
Discover the true essence of your local economy, is it growing or declining, and what is causing this to happen.
The analysis presents a long-term economic history of the area, visually and numerically, so you can quickly understand where the economy was in the past, and where it is today, and how it compares to the rest of the nation.
Click here to review a sample study for its content.
Step 2: Look to the Future - Economic Development Goal Study
Don’t let chance determine your area’s economic future. Set an economic goal with annual employment and wage milestones, which, when achieved, will increase the size and improve the quality of your economy.
This study determines where your economy is likely to go if nothing is done by the community to influence its future. Then a reasonable, achievable goal is established.
POLICOM pours money into the economy by way of the formation of new, primary industry jobs. The economic impact of these jobs is calculated and an economic goal is established.
Step 3 - Focus On Your Marketplace - Target Industry Study
Communities should focus on those industries, which are most likely to locate to or expand in your area which will help you achieve your economic goal.
POLICOM examines the geographic - economic characteristics of the area, including its present day workforce.
Then POLICOM evaluates more than 2,000 industrial sectors and determines which are growing nationally and in your state, are primary in nature, will pay a wage which will meet your Goal, and will be able to utilize your area's geographic - economic assets and cope with your liabilities.
Step 4 - Travel the Road to Success - Plan of Action
Guided by the information gathered in the previous studies and with the input of community leaders, POLICOM creates a step-by-step program which implements a comprehensive economic development program for the community.
An "Economic Summit" is held which produces creative ideas and opinions from the community regarding the strengths and weaknesses of the area and the most important economic issues facing the area.
The geographic economic assets and liabilities of the area are examined and recommendations are made for what needs to be done on an annual basis to build a strong economy.
Then, a series of important and necessary "tasks" are created and when completed, the community will be well on its way down the road to success.