Economic Development Strategies for Attracting Businesses to Rural Areas
Monday, July 17, 2023
Rural areas offer unique opportunities for businesses to thrive, with lower operating costs, access to natural resources, and a strong sense of community. However, attracting businesses to rural areas can be a challenge for many economic developers. Here are some strategies to get you started.
Identifying and Targeting Businesses
One of the first steps in attracting businesses to a rural area is identifying the types of businesses that would thrive in the region. Economic developers can start by researching the local economy, including the already present industries and the resources available in the area. This information can help identify gaps in the market and areas of opportunity for new businesses.