National Economic Development Week Celebration, May 7 - 12, 2018

The Town of Bennett joins cities nationwide to increase awareness of jobs and career development programs that enhance local economic impact.

CITY, STATE May 7, 2018 – The Town of Bennett celebrates National Economic Development Week from May 7-12. National Economic Development Week was created and is coordinated by The International Economic Development Council, the largest professional membership organization for economic developers. It is being held during the week of the organization’s 92nd anniversary as the largest professional membership organization for economic developers.

Typically, economic development can be described in terms of objectives. These most commonly include the creation of jobs and wealth, and the improvement of quality of life. IEDC specifically defines economic development as “A set of programs and policies that aid in the creation, retention and expansion of jobs; the development of a stable tax base; and the enhancement of wealth.

2018 will be the third consecutive year that National Economic Development Week was coordinated by IEDC. More than 75 communities participated in the 2016 campaign. In 2017, 170 communities and 188 organizations across North America created campaigns.  In 2017, dozens of elected officials at the city, county and state level officially proclaimed the celebration week, including three U.S. governors across their entire states. These included Governor John Hickenlooper of Colorado, Governor Greg Abbot of Texas and Governor Matt Mead of Wyoming. Principal Chief Bill John Baker of Cherokee Nation also signed a resolution. Dozens of cities, counties, parishes and provinces signed proclamations across the U.S. and Canada last year. Mayor Bob Buckhorn of City of Tampa, FL, Mayor Byron W. Brown of Buffalo, NY and Mayor Gale Katchur of Fort Saskatchewan, Alberta, CA are a few that signed city resolutions.  The United States Economic Development Administration (EDA) also issued a statement commemorating Economic Development Week.  

In the broadest sense, economic development encompasses three major areas:

  • Policies that government undertakes to meet broad economic objectives including inflation control, high employment and sustainable growth.
  • Policies and programs to provide services including building highways, managing parks and providing medical access to the disadvantaged.
  • Policies and programs explicitly directed at improving the business climate through specific efforts, business finance, marketing, neighborhood development, business retention and expansion, technology transfer, real estate development and others.

“This national event keeps growing because it has helped economic development practitioners share their community’s unique story, and highlight details of their role in jobs creation in their community. Millions of impressions are created online and in print during National Economic Development Week, and it’s all for the greater good. At the end of the day, we should be able to show how lives are enhanced as a result of economic development. One of this year’s official Hashtags is #QualityOfLife and it’s incredibly befitting! –Craig Richard, CEcD FM, President and CEO, Tampa Hillsborough Economic Development Corporation –Tampa, FL and IEDC 2018 Board Chair.

“National Economic Development Week has taken on a life of its own, and I am pleased to see and participate in a third consecutive year. Last year’s response from cities, counties, communities and organizations more than doubled the first year! It’s exciting to watch our peers rally for the practice and profession.”  -Barry Matherly, CEcD, FM, President of the Greater Richmond Partnership, IEDC’s 2016 Board Chair, and initiator of Economic Development Week.

To learn more about Economic Development Week, visit IEDC online at www.iedconline.org/edw.

Learn more about the Town of Bennett's Economic Development Department online here.