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4-53 New Brighton Comprehensive Plan | 2040 DRAFT <br />eCONMIC DeVeLOpMeNt <br />A focus on Economic Development is a key to realizing the City of New Brighton’s <br />vision and in keeping with many of the identified vision plan goals. Economic <br />development efforts in New Brighton must take on the task of making New Brighton <br />a place where a business wants to call home. The City of New Brighton must have a <br />strong “infrastructure” that supports business development and overall quality of life. <br />This “infrastructure” includes more than the typical infrastructure such as roads and <br />utilities. It includes things like: communication technology (band width, fiber, etc.); a <br />critical mass of other innovative businesses leaders; a great park and trail system that <br />offers an escape from the office environment; quality and diverse housing to support <br />a stronger labor force; great community gathering places to meet for socializing or <br />networking; a culture of innovation where new ideas can be explored and cultivated . <br />The Economic Development Commission (EDC) is charged with carrying out economic <br />development related activities. In the past it has focused its efforts on redevelopment <br />and specifically the New Brighton Exchange. As the New Brighton Exchange project <br />is moving towards completion, the City’s efforts will expand in to other areas of <br />redevelopment as well as programs and initiatives that will support business retention <br />and expansion as well as programs that make New Brighton a stronger place to grow <br />jobs and tax base. <br />Economic Development Objectives <br />Economic development can have many meanings. In New Brighton, economic <br />development will focus on the following key objectives: <br />1. To create new and retain diverse, quality, and good paying jobs <br />2. To build and maintain a resilient and enduring tax base <br />3. To create and maintain a healthy and resilient business environment <br />4. To establish a stronger community identity and sense of place <br />Economic Development Policy <br />In order to achieve these objectives and meet the economic development needs of the <br />community, it is the policy of the City of New Brighton to: <br />ED 1. Partner and collaborate with regional and local economic development <br />agencies and organizations that share similar objectives. <br />ED 2. Participate in state legislative processes focused on economic development <br />issues. <br />ED 3. Invest in staffing resources and economic development programs that provide <br />measureable progress towards community objectives. <br />ED 4. Maintain an open and collaborative dialogue with community business leaders <br />and innovators. <br />ED 5. Ensure city regulations are affective at ensuring a safe and quality built <br />environment and do not create unintended consequences or barriers to business <br />development and growth. <br />ED 6. Continually explore and understand emerging trends (local, regional, national,