In today’s global economy, the winners are the places that have proactively worked to build a prosperous economy. Cities and regions with thriving businesses, a skilled workforce, reduced costs of living and high quality of life attract vibrant people and new business investment. Here are some quick tips on how you can increase your community’s prosperity and create new jobs for your town.
Plan for Prosperity
The first step in building a prosperous economy is to understand what prosperity means for your community. Prosperity isn’t about wealth; it’s about well-being. This includes quality of life factors like income, housing costs, access to services, health and safety.
To create a prosperous economy, you’ll want to evaluate your strengths and weaknesses. You’ll want to ask yourself what you do well and what is holding you back. And you should ask your community what they need most to lift their quality of life.
Build a Skilled Workforce
The workforce is the backbone of any economy.
If you want to attract new business, you need to have a skilled and educated workforce.
And if you want your existing businesses to be competitive and profitable, you need to make sure they have the resources they need to hire and train quality employees. This can be achieved through partnerships with post-secondary institutions, community colleges, industry and government.