Small City and Town Economic Policy

 POWER. Local governments may not realize they have the power and obligation to have an economic policy for their town. Economic development and public finance programs managed with purpose and creativity can create local jobs and family incomes while also generating taxes and fees for the public coffers. 

PURPOSE.The reduction in the unemployment rate is great. However, the point is for people to have jobs. Total employment, the number of Americans with recorded jobs, declined by some 9 million during 2020. Local government jobs have declined from 6.6 million to 6.3 million. 

Economic development in small cities and towns fostering the preservation and growth of small businesses is critical. Methods and means to preserve jobs in local governments require creative finance to utilize available grants, to economize on non-salary expenses and to utilize special districts to create new flows of revenue.