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Destination 2040's Economic Growth Ideas
Notes:
- This is copied practically verbatim from LFUCG's D2040 Document.
- It is included here per Lexington Councilman Doug Martin's words that D2040 is a good starting point, with good ideas.
- Destination 2040 was a LFUCG initiated "Community Vision-Building" endeavor, conducted in 2008.
The Value Statement for Economic Expansion describes Lexington as a fertile field of opportunity,
where taking advantage of key strengths and exploring creative new endeavors will benefit all its people.
Economic Expansion aspect includes community elements with a primary impact of protecting
or creating opportunities for commerce and employment, and producing and keeping a well-educated / wellpaid work force.
or creating opportunities for commerce and employment, and producing and keeping a well-educated / wellpaid work force.
| Community Elements Most Valued | Other Elements: |
| New or Existing Business Expansion Stable Employment / Adequate Wages Agricultural Industry Workforce Training and Education | Stabilization of Government Revenues Generation of New Markets or Products Regional Cooperation Institutions of Higher Education as Economic Engines Business Recruitment Strategies / Methods Entrepreneurship and Innovative Partnerships / Programs |
ACTION APPROACHES FOR TOP FOUR ELEMENTS:
STABLE EMPLOYMENT / ADEQUATE WAGES:
Good jobs that are widely available strengthen households and boost a community’s confidence
A. Further enhance business, government, and non-profit job expansion efforts toward both highwage skills-based workplaces (examples: technical, manufacturing, service) and high-income knowledgebased workplaces (examples: professional, technological, scientific, engineering). Identify specific target employers such as pharmaceutical, bio-life engineering, equine and agri-business.
Suggested Initiators: CLX, KAED, BGADD, LFUCG, KFB, KTA, UK
Time Frame to Complete: 1-5 years; ongoing
Synergies Realized: Education, workforce training, community appeal, regional cooperation
B. Expand opportunities for workers to receive training and become more highly skilled, to promote their upward mobility in the work force.
Suggested Initiators: State Economic Development Cabinet, public and private employers
Time Frame to Complete: 1-5 years; ongoing
Synergies Realized: Education, workforce training, community appeal
C. Attract people who will build and sustain both skilled trades and white collar businesses by ensuring the presence of a strong, active cultural arts scene. Suggested Initiators: LFUCG, CLX, state, local arts community, developers, LexArts
Time Frame to Complete: 1-5 years
Synergies Realized: Community appeal, cultural life
D. Develop permanent school-based staff positions dedicated to linking students (from preschool to college levels) with both skilled trades and knowledge-based companies. Examples of linking approaches include job shadowing and mentoring. Offer scholarships for these students to continue their educations at local or regional post-secondary educational institutions
Suggested Initiators: EBCE Program, FCPS, guidance counselors, tech schools, CLX, businesses
Time Frame to Complete: 1-5 years, ongoing
Synergies Realized: Education, community appeal, workforce training
NEW & EXISTING BUSINESS EXPANSION
Expanding businesses lead to flourishing communities.
A. Revamp the existing tax structure to encourage business development and ensure more local control over tax revenues. Review available revenue streams and seek to implement a more progressive and effective system of taxation.
Suggested Initiators: State enabling legislation needed, CLX, LFUCG
Time Frame to Complete: 1-5 years
Synergies Realized: Entrepreneurship, innovation, community appeal
B. Recognize and expand UK's research and development as the primary driver for business and job expansion in the community
Suggested Initiators: UK, LFUCG, CLX Time Frame to Complete: 1-5 years, ongoing
Synergies Realized: Education, workforce development, stable employment, adequate wages, community appeal,
C. Continue to streamline and improve all means of assistance geared toward growing business and jobs.
Suggested Initiators: State & local government, private sector, CLX, LFUCG, UK
Time Frame to Complete: 1-5 years
Synergies Realized: Education, entrepreneurship, agri-business
D. Continue to concentrate efforts on connecting new and existing businesses to the financial resources (capital) and business relationships (networks) needed for success.
Suggested Initiators: LFUCG, UK, CLX
Time Frame to Complete: 1-5 years
Synergies Realized: Entrepreneurship, innovation
E. Work with the business community, organized labor, and state government to support agreedupon legislative changes that would allow employers and workplaces to offer employment opportunity to all qualified workers regardless of organized labor membership.
Suggested Initiators: CLX, Central KY Labor Council Time Frame to Complete: 1-5 years
Synergies Realized: Business recruitment, business expansion, workforce training
F. Pursue Quality of Life enhancements targeted to appeal to creative and talented persons of all ages.
Suggested Initiators: LFUCG, CLX, colleges, LexArts
Time Frame to Complete: 1-5 years, ongoing
Synergies Realized: Community appeal, stable employment, adequate wages, diverse cultural offerings
G. Provide tax and other incentives related to venture and start-up capital, to support efforts to grow existing businesses and create new ones.
Suggested Initiators: State and federal government, CLX
Time Frame to Complete: 1-5 years
Synergies Realized: Business recruitment, entrepreneurship, new markets or products, community appeal
AGRICULTURAL INDUSTRY
More than just beautiful farms, the agricultural industry brings great economic reward to the community.
A. Protect and build upon the region's signature equine industry and other aspects of agriculture such as animal research and health, field crops, produce, and other livestock.
Suggested Initiators: UK, KTA, KFB, CLX, equine cluster and other agricultural businesses
Time Frame to Complete: 1-32 years
Synergies Realized: Community brand, education, economic development, community appeal
B. Coordinate the cluster of equine-related entities into a more identifiable economic development entity. (All related services, farms, etc – see model contained in LFUCG Equine Task Force Report).
Suggested Initiators: KY Thoroughbred Assn, KFB, Farm Owners, KEEP, CLX, LFUCG
Time Frame to Complete: 1-5 years
Synergies Realized: Community brand, education, economic development, cultural identity
C. Work with agri-business entities, financial consultants, and state and local government to create and maintain a competitive tax structure for the agricultural industry.
Suggested Initiators: KY Thoroughbred Assn, KFB, State Legislature, CLX, LFUCG
Time Frame to Complete: 1-5 years
Synergies Realized: Economic development, community brand, rural / urban mix
D. Connect with non-resident horse farm owners and encourage them to do business in Lexington.
Suggested Initiators: Farm Owners, Mayor, CLX, KY Thoroughbred Assn, KFB
Time Frame to Complete: 1-5 years, ongoing
Synergies Realized: Economic development, community brand, rural / urban mix
E. Generate / create a larger, sustainable agri-business workforce pool.
Suggested Initiators: LFUCG, Farm Owners, KFB, State Legislature
Time Frame to Complete: 1-5 years
Synergies Realized: Stable employment, adequate wages, education, community brand, economic development, workforce training
WORKFORCE TRAINING & EDUCATION
Strong educational institutions and opportunities attract and retain productive residents.
A. Set and reach a goal for Fayette County Public Schools to be ranked in the top tier of public school systems nationally.
Suggested Initiators: FCPS, private sector, LFUCG
Time Frame to Complete: 1-15 years
Synergies Realized: Numerous
B. Offer a number of free 2-4 year scholarships to attend local or regional post-secondary / technical schools for deserving local students who commit to complete their educations here.
Suggested Initiators: FCPS, private sector, colleges / technical schools
Time Frame to Complete: 1-5 years
Synergies Realized: Education, community appeal
C. Build a rich package of incentives to attract the best Preschool-12th Grade teachers in the nation; include financial incentives for excellent teaching, and many community benefits.
Suggested Initiators: FCPS, State DOE, KEA, Legislature
Time Frame to Complete: 1-5 years
Synergies Realized: Education, community appeal
D. Expand financial incentives to businesses that provide opportunities to their workers to receive training and become more highly skilled, to promote their upward mobility through the work force.
Suggested Initiators: State Workforce Development Cabinet
Time Frame to Complete: 1-5 years
Synergies Realized: Education, community appeal
E. Publicly honor "Hometown Heroes" for their work, civic involvement, mentoring, and other contributions to improving community life.
Suggested Initiators: Local Media, LFUCG, FCPS, UK
Time Frame to Complete: 1-5 years, ongoing
Synergies Realized: Education, community appeal
F. Work with K-12 educators to incorporate evidence-based education on the energy cycle and energy efficiency as relates to environmental stewardship and protection.
Suggested Initiators: FCPS, colleges, LFUCG
Time Frame to Complete: 1-5 years, ongoing
Synergies Realized: Education, sustainability, transportation, land use,
EricPatrickMarr |
Latest page update: made by EricPatrickMarr
, Jun 29 2009, 11:43 AM EDT
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