Laserfiche WebLink
Headwaters Economics, 2019), available at lttvs://headwaterseconomics.or economic-developmenVtrends <br />erfomiancc/recreation-counties-attract/. <br />Economic development is a critical component that drives economic growth in our economy, creating high <br />wage jobs and facilitating an improved quality of life. The business development team at the Kittitas County <br />Chamber of Commerce will work to attract, and retain jobs for the Kittitas valley. While the work of <br />economic developers often falls under the radar, creating and sustaining jobs for a region is a critical <br />component to a successful economy and community. <br />These are the top six reasons why economic development plays a critical role in any region's economy. <br />1. Job creation: Economic developers provide critical assistance and information to companies that <br />create jobs in our economy. We help to connect new -to -market and existing companies with the <br />resources and partners they need to expand, such as Central Washington Worksource (People for <br />People), utilities, and county and city partners. <br />2. Industry diversification: A core part of economic development works to diversify the economy, <br />reducing a region's vulnerability to a single industry. While tourism plays an important role in creating jobs <br />in the Kittitas Valley, economic development efforts help to grow industries outside of tourism, including <br />Technology, Healthcare, Aviation, Manufacturing, and Business Services. <br />3. Business retention and expansion: A large percentage of jobs in the Kittitas economy are created by <br />existing companies that are expanding their operations. Our economic development team executed 300 <br />business retention and expansion visits to local companies just last year to assist with their operational <br />needs. <br />4. Economy fortification: Economic development helps to protect the local economy from economic <br />downturns by attracting and expanding the region's major employers. <br />5. Increased tax revenue: The increased presence of companies in the region translates to increased tax <br />revenue for community projects and local infrastructure. <br />6. Improved quality of life: Better infrastructure and more jobs improve the economy of the region and <br />raise the standard of living for its residents. <br />