#10 Economic development organizations (EDO) know their communities – all of the local information that you can’t get from data tools.  EDOs know who just laid-off, who closed, who expanded, who has training programs and dollars.
#9 International support (investment and trade) through the Office of International Business Development (OIBD) – don’t speak the language?  No problem.
#8 Labor interviews with existing companies – EDOs have the connections and the contacts to make this happen.
#7 Facilitation and introductions to the approving agencies, boards, and municipalities, supply chain, customers, and elected officials.
#6 Incentives – everyone wants them, but not everybody knows how or where to access them – workforce training, tax credits, low interest financing.  There may also be soft local incentives which include start-up marketing and new hire assistance, paid accommodations for executives and trainers, membership in Chamber, trade organizations, young professional groups…
#5 Economic developers may be aware of sites that aren’t on Loopnet, CoStar, or word of mouth from your peers.
#4 Help with permitting at the local and state level – economic developers can advocate for the project – High priority economic development projects for the community.  Also, economic developers will typically get the phone call when a project runs into permitting trouble.
#3 LERTA, TIF, KOEZ, KIZ, MTF, BIOS, RCAP, CDBG – Oh need some help with the acronyms? EDOs know them all.
#2 Economic developers roll out the red carpet for prospects.
#1 Economic developers understand the importance of confidentiality and maintaining the integrity of site selection.  They help you get the deal done.

Greater Reading Economic Partnership is your local economic development organization here to help navigate the process! Contact us or give us a call at 610.376.4237.