TCOG Economic Impact, FY 2021
December 1, 2022
FYE 2022 Annual Report
January 11, 20232022-2027 Comprehensive Economic Development Strategy
Strategic Direction / Action Plan
Strategies
The following economic development strategies are focused on TCOG as a region, as a community, as an organization, as a business, as a household, the strategies are recommended from Economic Disaster Mitigation Plan report 2020- 2022 by Hawes Hill Consultants.
Goals, Objectives & Activities
The following Goals & Objectives are recommendations from the Business Disaster Mitigation Plan 2022.
Goal 1: Regional Resource for Information | ||
Purpose: to enhance efforts to provide best practices, case studies, general information Role: RESOURCE Timetable: Immediate, within 1 Year | Objectives Objective 1: Builds upon the current City Series and similar practices already underway Objective 2: Nudges counties, communities, businesses and existing/potential partners into best practices Increases the potential for discussion and collaboration among peers Objective 3: Ensures that critical information is readily available for counties, communities businesses and other entities Strategies/Actions Action 1: Enhance Education Series Action 2: Expand/ Enhance Access to Data | What it Takes to Get There Funding to cover costs associated with attracting speakers and data acquisition Acquisition and manipulation of information beneficial to building economic resilience Partners & Potential Funding Streams Professional development organizations such as the American Planning Association (APA), Urban Land Institute (ULI), Strong Towns, Texas Downtown Association for purposes of disseminating information and presenting best practices Texas Department of Agriculture Planning and Capacity Building Grants Economic Development Administration (EDA) Local sponsors such as banks, builders, industry, EDCs, other partners TCOG could consider a small charge for larger/widely recognized speakers/ workshops |
Goal 2: Regional Partner in Grant Research, Acquisition and Administration | ||
Purpose: To assist counties and communities throughout the TCOG region in acquiring funds for community development and economic development projects, particularly those aimed at increasing local economic resilience and improving fiscal sustainability. Services including providing information, conducting research, grant writing and grants administration for grants in which TCOG take part. While this may be an activity in which TCOG has participated on a small scale in the past It is a natural extension for an organization that exists based upon grants acquisition. Role: PARTNER Timetable: Near term, within 2 years | Objectives Objective 1: Assist region’s community development and economic development project in Grant Research, Acquisition fund Objective 2: Provide information, conduct research, grant writing and grants administration if necessary Strategy/Action Action 1: Becoming a Grant Resource | What it Takes to Get There Potential, very little to initiate effort at small scale given that TCOG already has the capacity and resources for this activity Building awareness throughout the region of the service and its benefits Partners & Potential Funding Streams EDA has in the past funded positions to support technical assistance in the development of EDA grants. This may be something to pursue as a component of upcoming Build Back Better-related EDA funding Administrative fee for grant administration to support a staff position dedicated to this role Invite and host workshops from funding partners identified for discussion, coordination, and exchange with regional stakeholders Engage consultants to assist in efforts to include training existing staff in grant making and funding pursuit (there may be areas which require consistent consultant assistance as it relates to quantitative and technical analysis to support grant applications) |
Goal 3: Regional Economic Development Partnership | ||
Purpose: to address strategies that build economic resilience and mitigate impacts of economic shock that require regional cooperation and collaboration. The Partnership is another natural extension of TCOG, particularly given that many of the partners are already active members of the Council of Governments and that TCOG also already functions as the region’s Economic Development District. Role: LEADER Timetable: Intermedia – Midterm, within 1-5 years, depending on each Strategy/Action | Objectives Objective 1: Emphasizes the importance of a regional approach to economic disaster mitigation while respecting the autonomy of respective partner entities Objective 2: Enhances communication as it relates to regional economic resilience Objective 3: Tackles issues and opportunities that might otherwise go unmet or underperformed Objective 4: Allows TCOG the potential to take on projects that place a significant train on local partners Strategies/Actions Action 1: Establish the TCOG Regional Economic Development Partnership (Immediate – Within 1 Year) Action 2: Regional Business Retention and Expansion (B&E), (Near Term Within 2 Years) Action 3: TCOG Emergency Response Enhancements (Near Term Within 2 Years) Action 4: Enhance region’s support for entrepreneurship and small business growth (Near Term Within 2 Years) Action 5: Promote ecosystem of sustainable development of manufacturing and production (Mid Term – Within 3 Years) Action 6: Development Mobile Marketplace (Mid Term – Within 3 Years) Action 7: Create a local development consortium to incrementally promote and potentially address residential and commercial needs unmet by private development (Long term – within 5 Years) | What it Takes to Get There Collaborating with partner entities to market the concept of the TCOG Regional Economic Development Partnership Building consensus on prioritization of actions and acquiring funding/partners for each activity Establishing performance measures for each action Partners & Potential Funding Streams Economic Development Corporations, Communities, Counties and Other Partners/Entities that can gain from the efforts Sponsorships from Nonprofit, Institutional or Private Entities Economic Development Administration, Potential FEMA Hazard Mitigation grant EDA Economic Development Adjustment funding can provide for infrastructure, equipment, and operating assistance for projects related to job creation/attraction/retention. US Department of Agriculture, Collaboration with educational institutions such as North Central Texas College and Grayson College. The Texas Rural Business Fund (TxRBF) can provide infrastructure dollars for projects that focus on job retention/creation in rural areas. These resources can support established businesses in agricultural, food manufacturing, bio- tech, energy, IT, manufacturing, supply chain and logistics industries. Economic Development Administration, Local partners, including counties and communities, Industrial partners, TxRBF (described above) as related to eligible industries US Department of Agriculture, Farmer Market Grant https://www.ams.usda.gov/services/grants/lfpp https://www.ams.usda.gov/services/grants/fmpp Economic Development Administration through special set-asides Economic Development Administration Sponsorship from financial institutions, builders and similar private or nonprofit entities |
Goal 4: Regional Planning & Economic Resilience | ||
Purpose: To implement plans and programs that are more beneficial to all parties if planned and implemented in a regional, collaborative fashion. This particular action recognizes that extensive effort may be needed to establish the value of regional planning actives and programs prior to moving forward Role: LEADER Timetable: Flexible – each strategy can be implemented from Immediate to Long Term based upon availability of funding and support | Objectives Objective 1: Strategies may be undertaken by the Regional Economic Development Partnership or singularly by TCOG Objective 2: Strategies are granted a level of flexibility but they should be implemented immediately as resources and support are available Strategy/Action Action 1: Expand access to Broadband service throughout the TCOG region Action 2: Enhance the regional brand Action 3: Establish a Regional Strategic Plan Action 4: Develop a special area planning and implementation program for local communities | What it Takes to Get There Education and awareness particularly in reinforcing that each of these items are intended to add value to each community and county in the region as well as build economic resilience Acquisition of funds to minimize initial costs associated with each action Broadband funding will require clear identification of existing broadband conditions, needs, and future proposed conditions (including speeds and availability of service- public and private) Partners & Potential Funding Streams Economic Development Administration Public Work and Economic Adjustment (with business support) US Department of Agriculture Rural eConnecttivity (for rural areas) Build Back Better Federal Funding National Telecommunications and Information Administration or Federal Communications Commission TxRBG could provide fiber and telecommunications infrastructure for eligible industries. Texas Department of Housing and Community Affairs- Planning grant |
Goal 5: Regional Planning Community and Social Services Resource | ||
Purpose: To enhance the role that TCOG has historically played in the three county region and continue to strategically grow and enhance those services even as it expands into a prominent role in economic development. The various series currently provided by TCOG improve quality of life and, in some cases, the ability to achieve an increased level of economic independence. While those services may not be considered direct economic development actives, they do impact economic resilience of households in the region. Role: LEADER Timetable: Flexible – within 5 years as appropriate | Objectives Objective 1: Continue and Enhance the regional services role Strategies/Actions Action 1: Continue to lead in regional planning and support services | What it Takes to Get There Expanding and improving existing services as appropriate and in accordance with plans associated with those activates Partners & Potential Funding Streams As currently established |
