Economic Development Strategies and Practices

January 30, 2007 | PSD Research

This Digest article is the 3rd and final article in a series of three. The first and second articles (November & December Issues respectively) in this series addressed trends in the North American Automotive industry, and the potential threats to communities faced with the loss of major employers such as an automotive assembly or parts plant closure. The articles also discussed several economic development programs and best practices, which are being implemented in an effort to diversify and strengthen the economic portfolios of North American municipalities who face the loss of a major employer. This Digest Article will investigate how a local government might initiate the formulation of an economic development strategy by examining the City of Hapeville, Georgia, USA and its use of SWOT (Strengths Weaknesses Opportunities and Threats analysis). It will then continue by exploring the issues and challenges of municipalities on the opposite end of...