Local Economic Initiatives
Creating economic opportunities for all

National and State research is showing that there are strategies- best practices- that work best in rural communities. The Center for Rural Entrepreneurship has worked for over a decade with the Kellogg Foundation and the Kauffman Foundation to identify the following strategies;

1) Energize Entrepreneurs- in the past two decades over 90% of the rural job development has been the result of local entrepreneurs. The most valuable to a community are the entrepreneurs with high intelletual content or "gizelles" who generate good ideas and generally more than one local business. Research has identified that In Jefferson County we have three times the per capital entrepreneurs of the State in general. The priority opportunity is to identify those entrepreneurs, support them and encourage them to generate more employment and business opportunities.

2) Attract and Keep the 18-35 year old residents in our community and workforce. As the Baby Boomer generation approaches retirement rural communities will face a continuing severe workforce shortage. In addition, this is a unique time with four distinct generations in the workforce with different motivations, work styles, and values. Young people offer new ideas, they are in both their high earning and high spending period of their lives, and are tne workforce and business owners of our future. The task is to identify those who wish to stay in the community and ensure good workforce training and affordable housing. And the other priority is to attract the young people who value the quality of life for outdoor recreation and to raise a family and be sure to integrate them into the local economy.

3. Encourage Community Reinvestment. Consumers have the opportunity to be the "co-producers" in our local economy. Whether it is Thinking Local First, buying local food, or shopping locally, each time a dollar is spent it has the opportunity to support local workers, businesses, and the economy. Clearly the market place is rapidly changing with global pressure and the internet. Our local businesses can contribute to the local economy and also be part of that regional or global market place. In addition, local wealth and retirement can support local businesses through investment, leases, and venture capital.

4. Develop Community Leadership. Research has shown that communities that know how to work together effectively are more capable of identifying and utilizing community assets, capturing new opportunity, moving more quickly to support industries and employers, and develop both the quality of life and vibrant economy that businesses seek. Communities that are known for polarization and strife suffer higher transaction costs,  less public-private investment and stagnant economies.

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MONEY MANAGEMENT IN TOUGH TIMES
IS A NEW FOCUS FOR eXtension
More Americans feel additional stress and anxiety about their financial future as talk of rising consumer debt, falling housing prices, rising costs of living, and declining retail sales bring up worries about the nation’s economic health. 

Visit eXtension for fact sheets:
http://www.extension.org/pages/
Financial_Security:_
Managing_Money_
in_Tough_Times. 

eXtension: 

http://www.extension.org
Energizing Entrepreneurs
RUPRI Center for Rural Entrepreneurship
www.energizingentrepreneurs.org/

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WSU Extension of Jefferson County, 201 W. Patison, Port Hadlock, WA 98339
Voice: (360) 379-5610, Office Hours: 8:30 am to 4:30 pm Monday - Thursday; closed Fridays
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