A strategy, not a plan —That's how Paducah Economic Development aspires to develop the city's and county's economy.
Avalanche Consulting, based out of Austin, Texas, is working with PED to find the area's strong points and its challenges. During Monday's McCracken County Fiscal Court meeting, PED President Scott Darnell talked about the results from several months of community focus groups guided by Avalanche Consulting. Darnell says the finished strategy will have six goals to help steer decisions in economic development.
“It's more interactive and, you know, there's a lot of good energy behind it. We've had a lot of good input. Again, there's nothing stopping us from moving forward, from day one. It's just a lot more coordination, and a lot more strategy, and more fact-based research in how we make decisions,” Darnell said.
The six goals are cultivating talent, helping businesses succeed, inspiring innovation, celebrating culture, telling your story, and investing in yourself.
Darnell says the Forward Paducah Strategy is about learning to measure how much economic impact something will produce. He says there's software out there being finalized that measures that for you.
“We are getting a great barometer of what projects are needed or those that would actually compete with ourselves,” Darnell said.
We can expect the release of the Paducah Forward Strategy within the next 30 to 45 days.
Darnell later mentioned Entre Paducah. Entre Paducah is described as a concierge service connecting entrepreneurs and small business owners with organizations in the community and region that provide a beneficial service to them. He said there will be a "great announcement, hopefully in the middle of this week, that shows how this public-private success under the small business brand Entre Paducah has come together.”
Darnell also gave an update on the economic impact from the Paducah Gaseous Diffusion Plant cleanup. He says $50 million went into small business in the region as a result of the cleanup last year.
100 Television Lane
Paducah, KY 42003