Economic development, particularly local economic development, isn’t about splashy, incentive-laden attempts to attract big companies. That’s what may garner headlines, but, at its heart, economic development is about increasing economic prosperity. It’s about building healthy economies that lead to healthy communities. And this comes through helping local companies grow and bringing new companies into your region.
But which businesses and industries should you focus on? How do you prioritize your time and resources? Labor market data can help you answer these questions in much quicker and simpler ways than you may think.
In a new e-book, we explore how economic development professionals in communities large and small can use labor market data to glean four insights:
- Identify your most important industry clusters and growth opportunities
- Target the best fits for business recruitment
- Make your business case and demonstrate workforce availability
- Measure potential impacts