What is Economic Development
Regional economic development focuses on the recruitment of business operations to a region, assisting in the expansion or retention of business operations within a region or assisting in the start-up of new businesses within a region. In its broadest sense, economic development encompasses three major areas:
- Policies that governments undertake to meet broad economic objectives such as price stability, high employment, expanded tax base, and sustainable growth. Such efforts include monetary and fiscal policies, regulation of financial institutions, trade, and tax policies.
- Policies and programs to provide infrastructure and services such as highways, parks, affordable housing, crime prevention, and educational programs and projects.
- Policies and programs explicitly directed at job creation and retention through specific efforts in business finance, marketing, neighborhood development, small business start-up and development, business retention and expansion, technology transfer, workforce training and real estate development.
TEDD is working to build robust communities
The Tri County Economic Development Board supports a stable and diverse local economy, teaching people how to develop and grow their businesses, planning and developing infrastructure to support businesses, and securing funds for new programs and trainings to strengthen our economy. TEDD supports each and every community within our three-county district and also facilitates public-private partnerships to support local goals for economic development.