Organizing Resources, Leveraging Specialties, Cultivating Business
Evaluation - Conduct a strategic plan that envisions the right model to retain, expand and attract business to our community
Evolution - Create an economic development strategy that will encourage investment and deeper partnership from the private sector to create an engine of growth
Execution - Establish an economic development organization (“EDO”) to function as the marketing organization for the Grand Traverse region with partnerships and investments from all sectors in the business community
Currently, the economic development corporation is an appendage of the Grand Traverse County government. Establishing an economic development organization, or EDO, will signify an evolution in how the private and public sector can partner to create responsible economic growth. The Grand Traverse Economic Development Organization will focus on fostering the growth and expansion of a regional economy in the northwest lower peninsula. Our EDO will help the communities and businesses in our region to strengthen economic integration of all sectors of the economy with the shared vision of retaining, expanding and attracting partners to our region.
Warren Call, chairman the GTEDC, stated “our key objective over the next two years is to establish a community-wide coordinating mechanism for all economic development initiatives. The creation of an economic development organization will encompass a region-wide Economic Development Organization encompassing government, nonprofit, education and the private sector.”
An EDO is a separate entity made up of regional stakeholders from the private sector, public sector, and other non-profit organizations working towards a collective impact. A collective impact is many individual organizations using a collaborative approach for a common agenda – greater economic development. By using this approach, the GTEDO will uncover a mutual understanding of each other’s strengths and weaknesses, convene a strategic path forward, and build a better community for everyone involved.