Comprehensive Economic Development Plan
Updated, August 2010
MISSION STATEMENT
The Mission of Keith County Area Development is to work in partnership with local communities and existing area businesses in an effort to expand the economic base of our community and enhance the earnings opportunities of area residents by retaining and expanding existing business and industry as well as attracting desirable new employers consistent with the area’s high quality of life.PRINCIPLES
KCAD’s Comprehensive Economic Development Plan is based on the following principles:- To enhance the quality of life in Keith County and remain compatible with the development of our economic resources;
- To work with the City’s Economic Development Director in planning the economic development of Keith County. This means recognizing and anticipating the pros and cons of economic development and dealing with these factors effectively (i.e. broadening the tax base, infrastructure costs, etc.);
- To let this plan serve as a stimulus for community debate and discussion, which is essential to the process of planning economic growth;
- To take a pro-active approach in recruiting and expanding businesses in Keith County.
KCAD’s Comprehensive Economic Development Plan will not only help ensure our preparedness for growth but will also enhance our attractiveness and credibility with prospective employers.
TARGETED INDUSTRIES
KCAD is reviewing the following targeted industrial categories for active recruitment, which were a part of the initial economic development plan, based on such factors as the quality of life, economic resources and overall benefit of Keith County.- Renewable Energy
- High Technology
- Storage and Distribution
- Ag and Value-Added Ag
- Business Revitalization
- Higher Education
These categories have been chosen due to their on-going, year-round growth and stability, the resources available in the area, the amount of possible tax revenue, and the limited impact on additional public infrastructure.
In addition, KCAD recognizes that tourism, retirement living and second homes around Lake McConaughy are positive economic developments that need to be anticipated and well-planned and may be included in the targeted industry list.
KCAD also recognizes the importance of health care and retail businesses as desirable and beneficial to the economic development of Keith County. KCAD will explore the possibility of including health care and retail business on the targeted industry list.
GOALS
The goals which evolve from these targeted industrial categories include, but are not limited to:- Employment/Job Creation
- Population Growth
- Housing Stock Growth
- Increase Median Income
