Together we can spur business growth, create jobs and emerge from recession
There's nothing like a global, prolonged and deep economic recession to cause governments to reconsider their mission as well as take a hard look at where new revenues (read taxes) can be realized.
With all due respect to the economists who have declared the U.S. economy officially in recovery, the depth and breadth of the ongoing recession will subside only on the heels of a job growth that comes from lasting and meaningful economic development.
That reality has led virtually every government official in Clark County to focus not only on economic development but to question best practices for their efforts.
Models of economic development range from going after any and every company looking for a new base of operations to identifying and targeting specific employers, pursuing them until they either say "yes" or "no." Some models are based on collaboration, while some "go it alone" adherents believe all jurisdictions compete with each other. Other groups may have developed internal positions of their own in addition to working collaboratively on projects with others in the county.
We need only turn our gaze to our neighbors across the Columbia River for an idea about how not to structure economic effort.
A few years ago, business community representatives launched Greenlight Greater Portland to drive economic development, ostensibly because public entities in the three-county metro area didn't seem willing to "play well with others."
By contrast, for nearly 30 years Clark County has had a public-private partnership organized specifically for the purpose of recruitment of new companies to the area and the expansion of firms already doing business here. The Columbia River Economic Development Council has had a hand in recruiting almost every major employer to move into the county in the last three decades.
There's nothing like a recession to cause elected officials and staff members throughout the county to wonder if the investment in the collaborative approach is the best use of their economic development dollars.
We have heard little else about the impending recovery other than it will begin in earnest when the economy creates well-paying jobs. To achieve the most success, economic development policies must adhere to one basic goal: the creation of new business opportunities.
But for cities, ports and the county government, economic development is also about taxes. When a new manufacturer or a corporate office decides to locate here, the jurisdiction in which that company lands not only creates jobs but increases property value on tax rolls – strengthening the community and the government.
Of late, there are a number of initiatives touching on economic development issues, not the least of which is an effort to put together a strategic plan for the entire county, spearheaded by the CREDC.
Though there have been similar county-wide economic initiatives in the past, this is the first to ask all public jurisdictions, along with representatives of the private sector, to participate in the plan's development. We applaud this effort – which began just this week – and encourage all involved to maintain their commitment to achieve our shared goals of economic development and job creation.
