What does redevelopment have to do with economic development?
Economic development takes place when local governments work with the business sector to attract and retain employers by marketing the community to new companies and addressing the needs of existing businesses. The goal is to create and maintain well-paying jobs, produce higher average incomes, and allow local governments to maintain a healthy tax base without unfairly burdening either residents or employers. As we approach buildout, redevelopment is becoming a vital component of economic development. The lack of greenfield land makes it more difficult for new businesses to locate here, or for existing ones to expand. If this situation is not addressed through redevelopment, over time, existing businesses may be forced to move to other counties – taking well-paying jobs with them – and few new ones will move in to replace them. With planned redevelopment, aging buildings can be upgraded or replaced, and land can be recycled to accommodate the needs of new or expanding employers, helpin
