COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY
Throughout FY21, the Economic and Community Development team facilitated an update to the region’s Comprehensive Economic Development Strategy. This process fulfills the shared responsibility of Mayors, business leaders, and state officials to cooperatively develop a strategy to align policy and infrastructure investments with the region’s shared vision for economic growth. The CEDS pulls together the economic development goals and priorities of local jurisdictions and strategies of regional entities to craft a document that presents a shared vision and makes us more competitive for federal and state funding for economic development. An Advisory Committee worked alongside GNRC staff to oversee development of the region’s Comprehensive Economic Development Strategy.
Key Partnerships
GNRC participated in a 40-county wage and benefit survey, conducted by the Business and Economic Research Center (BERC) at Middle Tennessee State University. The purpose of this study is to provide information that would enable human resource managers to make informed decisions about the prevailing compensation structure and to enhance local economic development officials’ understanding of the compensation structure in their market as they support prospective businesses transitioning to the region. As one of three development districts in the region, GNRC committed funding and in-kind support to the study. This effort aligned with the goals laid out in the Comprehensive Economic Development Strategy. This data will help inform decisions on workforce development, employee retention for existing businesses, raising overall compensation levels for employees, and help set competitive wages for jobs across the region.
Learn more about the Comprehensive Economic Development Strategy at GNRC.org/CEDS.
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