Wayne County Economic Development Council

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Strong Incentives
Tax credits, abatements, grants, low-cost financing Foreign Trade Zone and more.

Business-Friendly Climate
Effective community and government partnerships locally and throughout Northeast Ohio.

Access to Markets
Central location with great ground, rail, water and air accessibility.

High Quality of Life
Small town hospitality and country living with big city opportunities.

Leading Ag-Bioscience Infrastructure
Premier research facilities and infrastructure.

Low Cost of Doing Business

Energy, labor and occupancy costs among the nation’s most affordable.

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Growing a Quality Future for Wayne County

Economic development is a vital activity for any community. It is the process of creating greater wealth within a community by bringing in new "outside" dollars. This is mainly achieved through:

  • Retention, expansion and recruitment of "primary" jobs 
  • New capital investment
  • Business creation and attraction 

What is a "primary" job?
A "primary" job is a job that produces goods and/or services for customers that are predominantly outside the community. This creates new "outside" dollars for the community. Once an employer is paid for the products and/or services, he redistributes that wealth in the community through wages paid to employees and through suppliers.

What does an economic developer specifically do?

Economic developers wear many different hats. However, there are three main functions an economic developer performs: 

1.   Provide information and assistance to companies that are interested in the economic developer's community for relocation, retention or expansion.

Economic developers do not create new jobs. They provide information and assistance to companies who create new jobs. A good economic development program strives to have the most comprehensive and current information available on the following:

  • Local demographics
  • Quality of life
  • Public infrastructure
  • Business assistance programs
  • Real estate                          
  • Taxes, fees, and regulation
2.   Market the community to targeted business industries.

Like any company, if a consumer isn’t familiar with your product, they won’t buy it. Another function of an economic developer’s job is to market the community to businesses in "targeted" or specific industries best suited for the community. Marketing activities often include:
  • Print advertising                                   
  • Site selection conferences
  • Tradeshows                                           
  • Multimedia presentations
  • Public relations 

3.  Work with elected officials and community partners to ensure that a positive business environment exists in the community.

The same things that attract new employers will keep existing firms in the community. There are several reasons why companies thrive in certain communities and struggle in others. These factors include:
  • Proximity to markets
  • Ease of international travel
  • Local labor skills and availability
  • Tax and regulatory environment
  • Quality of life issues
  • Cost of doing business
  • Strong and stable political leadership
  • Incentives
  • Infrastructure
  • Proximity to major universities
  • Concentration of existing industries
Why does our community need "greater" wealth? 

Economic development programs vary based on the needs of a community. There are several benefits of a successful economic development program: 

  • Higher quality public services–By increasing the tax base of a community, local governments can provide higher quality public services to citizens. This could mean additional police officers to help ensure public safety, additional parks and recreation areas, etc.  
  • More job opportunities for citizens–Adding "primary" job opportunities to a community gives citizens more opportunities to find higher-paying jobs closer to home. "Primary" jobs usually pay a higher average wage than the average per capita income of the community. They also create additional or "spin-off" jobs within a community.  
  • Greater protection from economic downturns–One of the focuses of economic development is to diversify the economic base, thereby increasingly cushioning the community against economic shocks. A community that has not diversified its industry base can find itself in trouble if its single, major industry downsizes or suddenly leaves the community.

  • Economic developers work with elected officials and community partners to strengthen any gaps in the community related to the above items and make the community more desirable for businesses. 
What does the Wayne Economic Development Council do?
  • The mission of the WEDC is to assist in the creation of a plan for appropriate land use and the needed infrastructure, to retain and expand our current job and tax base, to establish a strong business/industry/education partnership and to market all of Wayne County to selective businesses and industry.
  • This vision includes an organized, planned and orderly growth process based upon a cooperative effort between public and private entities. This orderly growth process, in turn, will encourage the expansion of existing business and industry and the location of new business and industry with quality jobs into the county.
  • The WEDC acts as a liaison between the existing and/or recruited industry; and the Ohio Department of Development (ODOD), local and state government, and financial/lending institutions. The organization assists enterprises of all types in applying for and acquiring incentives through state and local governments, as well as the ODOD.
© 2014 Wayne Economic Development Council. All rights reserved