Economic Development Departments work with businesses within their community to grow their businesses. They also work with businesses outside the city or state to lure them to locate in the city.
Almost all of the 50 states and some of the U.S. Territories provide economic development services. Most larger, and many smaller cities, maintain an economic development department or director. The economic development effort for most small cities consists of a possible part-time employee. Other small communities contract with an economic development corporation.
Economic development departments can provide revitalization areas, TradeZones, tax breaks, lower business license fees, and other incentives to entice businesses to their communities or help their local companies grow. They typically reserve their programs for companies that will add a significant number of jobs or money to their community—larger companies.
Start-up or small-business owners should still contact their local economic development director to explore the services they may qualify to receive. You may find the directors by contacting your city management or administration. You may also Google the name of your city and “economic development”.
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