What are the different types of economic development programs?
different types of economic development programs can use land -use planning, which will stimulate economic development, establish revolving credit programs to assist companies or provide training for entrepreneurs. Buy-blocked initiatives are sometimes used to maintain more economic activity in a particular area. Other times, local and regional governments and academic institutions can support research or subsidize investments in innovation. Other economic development programs can be designed to obtain pollution industrial sites. In some regions, the laws are passed on to areas that are earmarked as "corporate zones" in which developers receive tax credit in exchange for investment in infrastructure on unoccupied soil. For example, a company that wishes to build a factory can be offered a tax credit for a certain period of time, usually for several years. The operative idea of these programs is usually to give up taxes for several Lets in exchange for luring the developer to bring anotherItem to the community. The idea in this case is that if the local or regional government invests a certain amount of money to start the rental program, the first recipient will refund the money. These funds can then be used for further business expansion.
Sometimes a revolving loan will be offered for business interest without low rates. Credit funds can be offered through non -profit community development organizations. These money funds are often focused on entrepreneurs and the amounts of the loan may vary.
Buy-Local Initiatives are a type of economic development program based on a concept that the encouraging residents of the community will also provide to local businesses to local businesses to increase local tax revenues. It is also possible to use government recorded research to develop new ways to add the value of locally available commodities. For example, researchThe art project may include finding new uses for fiber residues from local agricultural crops and then incorporate this material into the finished goods. Because the materials used for production can be free or relatively cheap because they are often considered agricultural waste, new products can be produced and sold profitable. This often leads to new creation of jobs in the community.
Brownfield reclamation is a specific type of program that is usually designed to restore heavily polluted industrial sites and renew land use for new productive purposes. These types of economic development programs commonly rehabilitate the soil polluted by less technologically advanced ways of production or mining that led to contamination. The shipyard, railway yards and places in which the production of operation involving toxic materials is usually involved in the effort to rebuild brownfields.