Economic Development means different things to different people. Here are answers to some frequently asked questions about Economic Development.
What Is Economic Development?
Economic Development usually takes three forms:
Business Retention and Expansion
All three of the forms seek to create primary jobs that pay more than the average wage, increase the amount of income coming into the community from outside our market area, and create greater capital investment in our community. The goal is to attract a diverse group of industries and businesses to help insulate the community from economic shock in case specific sectors should fall on challenges.
The Chanute Regional Development Authority purpose is to synergize and coordinate the Economic Development activities and programs aimed at the City of Chanute specifically and in a targeted manner.
What is the Chanute Regional Development Authority?
The Chanute Regional Development Authority, or CRDA, was created in 2011. The CRDA is a group comprised of thirteen Board members appointed by the City of Chanute and the CRDA Board of Directors. The group consists of a variety of business people and representatives from partner organizations who review projects, grant request, and help to create the economic vision for Chanute.