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Rural Economic Development

Rural Economic Development. Goal: Help local firms expand Retain/Create Jobs Increase entrepreneurial activity. Methods: Invest in infrastructure Provide incentives Invest in human capital (education). Risks and Benefits. R-Entrepreneurship is difficult

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Rural Economic Development

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  1. Rural Economic Development • Goal: Help local firms expand • Retain/Create Jobs • Increase entrepreneurial activity • Methods: Invest in infrastructure • Provide incentives • Invest in human capital (education)

  2. Risks and Benefits • R-Entrepreneurship is difficult • B-Investments in infrastructure: • Competition and community wealth • Applies to incremental growth as well as large-scale developments • B-Increase in funding for education: • Higher skill level and improved leadership

  3. Role of Public Sector • Government investments: • Match supply with demand • Offset market inadequacies • Grants & loans:CDBG, CSBG, Rural Dev. Appalachian Regional Commission • Agencies:HUD, EDA, DOC, Small Business Admin. • Role of CDC

  4. Knowledge of Technique • Six obstacles for rural development • Lack of population density and wealth • Lack of educational resources

  5. Conclusion • Dollars = Goals Met • Need devoted individuals!

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