This is an often confusing idea for people. The stereotypical understanding of economic development is the construction of shiny new buildings, skyscrapers, and sports facilities that make big flashy media stories. In reality, economic development means a lot of things, takes longer than most people understand, is hugely dependent on market conditions, and is far more mundane and boring than expected.
To drill down one more level, economic development no longer recognizes municipal boundaries and borders as relevant. It's about drive times, market shares, disposable incomes, competition in the same space, density, and a hundred other factors. Sure, we know Newburgh Heights is a great community but, for a business owner that's not relevant. So, a whole bunch of other conditions better be met. That is where we are in the village. Setting up the conditions to bring the type of development we desire to the table.
Under Mayor Elkins, we have had the first real success in many, many decades. The massive Speedway expansion and the Family Dollar construction totaled over $5,000,000 and have resulted in major revenue streams. But they just scratch the surface of what was done to get things started.
Place setting on East 42nd and Beta with the installation of the new plaza is designed to be an incubator for community gathering and an aesthetic for new small businesses in the village's historic "downtown."
Constructing our village hall and fire station on Harvard Avenue was done purposefully to change the feel of the street and act as anchor development.
Cleaning up Harvard Avenue by demolishing obsolete old industrial structures such as Harvard Heat Treat, the Seaway Gas Station at 55th Street, removing burned out houses, and outdated multi-family structures, have all set the stage for interest and growth. These are the hidden aspects of economic development most don't recognize.
Couple that with construction of new homes, creation of the home maintenance grant program, and the CIC's renovation of vacant or abandoned homes with good bones, and the village is finally on its way to revitalization of a broad base of revenue that will build on itself.