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Identifying Economic Development Opportunities in Monroe County

Finding the best economic development opportunities to pursue in your community can be a complex process. 

Acquiring and sorting through all the data can be extremely time consuming. There’s a fine balance between research and action. MDB Insight can make this process easier by collecting the current data for your area, and compiling a report that identifies critical areas of opportunity to ensure the economic growth of your community.

In 2016, MDB Insight completed a strategic report for the I-75 corridor through Monroe County, Michigan. MDB Insight collected data from community stakeholders to identify issues, opportunities, big ideas, and key questions.

The report identified a wide variety of development opportunities along the I-75 corridor. Monroe County was in a unique position to promote economic growth in the logistics industry, among others. Three major freight rail lines, two short haul lines, connecting highways (I-275 & US23), the Port of Monroe, and proximity to two international airports made I-75 a major corridor for carrying goods and services.

Opportunities for Economic Growth in Monroe County

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The report also identified 8 priority development areas across the region that would be well suited to new business in each of the desired industries. Each location profile offered a site history and context, recommendations on development types and opportunities, and applicable economic development incentives available. 

Additionally, 6 Plan Pillars guided a series of action steps that stakeholders should take in order to advance the economic objectives of the plan. Each action step also identified the stakeholder(s) responsible for carrying out each action step. Priority actions were identified and clarified to help get a head start on implementing the new strategies.

This report has provided the community of Monroe County with clear steps to help strengthen their economy and build a desirable community that young people want to stay in, that people want to move to for better opportunities, and that businesses want to invest in.

A clear plan, with current data to back it up, can help a community thrive in the future. As data-collection and analysis experts, MDB Insight can take a load of work off your plate and provide you with a roadmap for the future that will help strengthen your local economy and community as well.

Find Innovative, Within-Budget Ideas to Strengthen Your Community

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References:

https://www.monroemi.gov/UserFiles/Servers/Server_10126506/File/City%20Hall/Departments/Economic%20Development/BDC%20I-75%20Corridor%20Study.pdf

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