How Small Towns and Cities Can Use Local Assets to Rebuild Their Economies
Over time, all communities experience changes that affect the industries, technologies and land use patterns that help form the foundation of their local economies. Economically resilient towns, cities and regions adapt to changing conditions and reinvent their economic bases as necessary. Even if the community has lost its original or main economic driver, it has other assets that it can use to spur the local economy.
While many economic development strategies involve efforts to recruit major employers, some small towns and cities complement recruitment by emphasizing their existing assets and distinctive resources.
How Small Towns and Cities Can Use Local Assets to Rebuild Their Economies (pdf) provides case studies of small towns and cities that have successfully used this approach.
This report looks at a diverse array of cities and towns, including: Bend, Oregon; Douglas, Georgia; Dubuque, Iowa; Emporia, Kansas; Mount Morris, New York; Paducah, Kentucky; and Roanoke, Virginia.
While no magic bullet or set process will work everywhere, these case studies illustrate several successful community-based tactics:
- Identify and build on existing assets.
- Engage all members of the community to plan for the future.
- Take advantage of outside funding.
- Create incentives for redevelopment and encourage investment in the community.
- Encourage cooperation within the community and across the region.
- Support a clean and healthy environment.
Learn more about smart growth in small towns and rural communities.