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Overall, the Director of Economic Development (DED) has a wealth of information about their community. Below are reasons why you should visit your local and state economic department website and in person:

They know their city inside out. Typically, they report to the City Manager. They can also guide you on who to contact in City Hall and set up meetings for you.

The DED is the first contact to know when a new company is coming to their city or an existing business may be expanding.

The DED knows if the City owns property and if selling. Ex. an outdated fire station ready to build a new one and City is selling the old one. Could be a great idea for a cool restaurant.

They have a relationship with property owners and know if they are selling their property.

They provide valuable information on commercial real estate growth: examples of a new hotel or a new restaurant or a new hospital.

The DED is always seeking to expand and diversify their tax bases.

The DED maintains relationships with existing business and help encourage growth by recruiting new ones.

They create and retain jobs for their communities.

They offer City economic development incentives! The DED may pay for infrastructure (relocation of storm sewer or expansion of utilities), may help with costs for road expansion or signal lights, or demolition costs or environmental issues.

  • Pamela J. Goodwin

    Pamela J. Goodwin is the founder and CEO of Goodwin Commercial a commercial real estate firm specializing in retail/restaurant development, brokerage and consulting firm in Dallas, Texas, and a Think Realty coach. Learn more about her commercial real estate courses at thinkrealty.com/Pamela or reach her at pam@pamgoodwin.com.

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