There was a time when economic development meant factories with huge smoke stacks belching out obnoxious smoke, with acres of parking for employees working around the clock and major highways going through town with 18 wheelers on the road 24 hours a day. In many communities it also meant freight train whistles disturbing the tranquility of the night.
Today it is important to realize that the concept of economic development encompasses many facets. Obviously, we think of recruiting new businesses, thereby increasing jobs for our citizens and income in our community. Although true, and that is the primary mission of the Payson Regional Economic Development Corporation, economic development actually affects all of us who live and rely upon our economy for existence; from owners and operators of business concerns, to wage earners and all households who depend on those goods and services. Everyone is literally a player and impacted by the local economy.
In addition to recruiting new businesses that create jobs, economic development also includes retirees who come to live out their "Golden Years." These new residents boost our economy by "importing" money earned outside our area. By buying a home, they keep the realtors and builders busy and other industries thriving. Also as new retirees come to our area, services we all enjoy (such as health care services and care givers, restaurants and other services) are expanded and improved. The Department of Commerce estimates that every dollar spent in the local economy is re-circulated an average of seven times.
Because we all benefit from economic development, the Payson Regional Economic Development Corporation is asking all businesses and interested individual homeowners to become "Investors" to help support our ongoing efforts. We have chosen the term investor because when you support economic development, you truly invest in the fiscal strength of our community.
I encourage everyone to join with us as an investor in our nonprofit (501)(c)(6) organization. For information regarding the Investor Program, please call Scott Flake, the Director of PREDC at 468-6659, or Ray Schum at 474-1622.