Economic Development
A Strategic Economic Development Plan (‘Strategic Plan’) was prepared for the Bennington Region in 2004. It is intended to provide the groundwork for specific regional initiatives and resource allocations that will lead to an effective plan for action. The objectives are to: (1) clarify the region’s economic goals, (2) complete an objective assessment of its external economic development environment, (3) complete an objective assessment of its economic development resources, (4) identify and prioritize the relevant menu of economic development strategies, (5) implement those strategies that offer the best opportunities for success in the region, and (6) build the capacity of leaders in the region to continue on after the initial plan is developed in a continuous process of planning and acting to improve the region’s economy. In addition, the strategic plan is intended to serve as the substance for a Comprehensive Economic Development Strategy (a “CEDS”) to qualify for programs under the U.S. Economic Development Administration.
The Strategic Plan identifies key economic sectors and drivers: Materials Related Light Manufacturing; Specialty Electronics and Metal Products Manufacturing; Natural Resource-Based Manufacturing; Specialty Food Products; Specialty Publishing and Printing; Education Services; High Value-Added Professional, Scientific and Technical Services; and Resorts, Tourism-Related Enterprises and Recreational Manufacturing. Specific strategies and action steps to implement the plan include: Strengthen regional collaboration; Target strategic job sectors; improve workforce development and training; Enhance the readiness of critical infrastructure; Strengthen housing supply and choice; and Facilitate access to affordable early stage and equity capital. Agriculture and the natural resources sectors contribute to the areas overall economy, sustainability, and quality of life.
A condensed version of the Strategic Economic Development Plan can be found here (170 kB)