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HomeMy WebLinkAboutECONOMIC DEVELOPMENT VISION AND VALUES rev 1 8-24-16ECONOMIC DEVELOPMENT VISION AND VALUES Economic Vision Our community strengthens and diversifies the local economy by supporting business sectors that create & sustain mid- to high-paying jobs, enhancing the high quality of life in the greater Bozeman area. Guiding ED Values/Principles Values important to Bozeman’s economic future include: • Strengthening and diversifying the local home-grown economy • Increasing economic activity that improves our community’s prosperity • Supporting innovation and encouraging growth in mid-to-high wage sectors • Facilitating the creation of mid-to-high paying jobs/high quality employment to match the high quality of life • Environmental responsibility • Intentional growth planning ECONOMIC DEVELOPMENT STRATEGIC IMPERATIVES The following is a list of our economic development strategic imperatives (anchor strategies). The City of Bozeman will lead the implementation of some of these imperatives, and City will assume a supporting role for others, while other entities lead the implementation. The Plan’s Implementation Matrix also identifies strategic imperatives for the City of Bozeman to initiate and lead with a corresponding timeline and is included in the next section (Section VIII). The strategic imperatives are all important and there is no priority ranking attached to the order of presentation. These strategic imperatives and the corresponding matrix provide a framework in which the City, the business community, and key stakeholder groups can plan, prioritize, and implement economic development activities for the benefit of all citizens of Bozeman. Not all of these proposed strategies will have the same impact, but through a focused and collaborative effort, Bozeman will be better positioned to be more competitive. The specific recommendations and priorities of the City of Bozeman Economic Development Plan fall under the following 3 economic development strategic imperatives: 1. Support retention and growth of existing businesses, while welcoming and encouraging new businesses 2. Invest in infrastructure as a mechanism to drive economic development. 3. Support education and workforce development initiatives to provide businesses with qualified workers. 1) Support retention and growth of existing businesses, while welcoming and encouraging new businesses a. Pursue, support, and provide assistance for business start-up, expansion, and business recruitment efforts that strengthen economic clusters that increase prosperity in the community. b. Support and promote entrepreneurial efforts and business expansion and retention through collaboration with area economic development agencies and organizations. c. Leverage MSU-Bozeman research and technology transfer resources and assets. 2) Invest in infrastructure as a mechanism to drive economic development a. Invest in infrastructure as a mechanism to drive economic development at safe and efficient levels to satisfy the current and future needs for economic expansion. The condition of streets and sidewalks, water and sewer, lighting, gas and electric distribution, fiber optic communications, and solid waste disposal all affect how effectively and efficiently businesses conduct their operations or whether a business decides to grow or relocate to the area. 3) Support education and workforce development initiatives to provide businesses with qualified workers. a. Support Montana State University and Gallatin College programs encouraging alignment with the workforce needs of supported sectors. b. Support federal, state, county and local workforce development initiatives.