PCCF Hosts Economic Summit

Six of the top 10 Park County employers along with bankers, city and county officials and other business representatives were in attendance.

 

The first segment of the meeting presented PCCF’s indicator project, The Park County Compass” which measures various data points related to a balanced look at the health and vitality of Park County. The Economic Section of the indicator project focuses on measurements related to unemployment, industry wage and diversification in the county and cost of living analysis. The indicator project points to the Economy being a priority in terms of the vitality of the community and the importance of devoting community resources to promote common actions and solutions.

 

This presentation was followed by a lecture from Tobias Madden, Regional Economist for District 9 of the Federal Reserve Bank. He discussed factors involved with business location in rural settings. The top five factors related to business location and relocation are the following: Cost Environment – Cost and Ease of operating in a specific area,   Infrastructure – Interstate access and amenities for managers,  Proximity to Customers – can be physical or virtual,   Proximity to Suppliers – can be physical or virtual (speed and capacity of “the web”.) Also included “supply” of quality workforce),   Quality of Life.

 

Next, information was shared relating to current infrastructure and agency projects and a community development overview from Phillip Fletcher the head of Park County’s Community Development team. Business leaders discussed factors that inhibit economic development and offered steps for new development ideas. Several ideas were discussed and Park County Community Foundation will have a role in holding forums and documenting plans to move these forward.

 

For more information about the economy in Park County, please see the Park County Compass.  If you have questions, please contact the PCCF.