Economic Development Plan
Economic Development is no longer seen as merely a real estate marketing effort to entice businesses to relocate into the area. Today, economic development is truly about enhancing quality of life. It’s about increasing per capita wages, training its workforce, enhancing infrastructure that in turn will protect and enhance the area’s natural resources. Today, economic development encompasses not only business expansion and retention; it also addresses tourism, community development, workforce development and environmental protection.
The Economic Development Plan (EDP) is a living document that establishes direction for Pasco County’s short and long term economic development. The EDP identifies goals, and implementation actions for the County to pursue as it enacts business retention, expansion, and attraction efforts, supports a fiscally healthy government, realizes key development projects across the County, and makes Pasco a better place to live and work. In addition, the EDP is the primary tool for the implementation of the Economic Development Element of the County's Comprehensive Plan.
The programs and actions proposed in this plan have provided the foundation for maintaining a collaborative working relationship among the public and private sectors and provide achievable implementation strategies.
As a result of significant public input and through the Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis, the following five goals were developed:
Goal 1: Tell the Pasco Story
Pasco will tell the story of its aspirations and achievements in a bold and creative way that draws positive regional, national, and international acclaim.
Goal 2: Encourage Continued Positive Growth
Pasco will use its resources and authority to become one of the most competitive business environments in the Southeast United States.
Goal 3: Grow Businesses
Pasco will relentlessly pursue new partnerships and alliances to create a robust, connected entrepreneurial culture.
Goal 4: Grow Pasco’s Workforce
Pasco will educate, train, and attract a top-notch workforce to support its employment base and propel targeted economic sectors.
Goal 5: Enhance Pasco’s Quality of Life
Pasco will create and maintain state of the art community services and facilities including education, recreation, cultural and tourism-related amenities while enhancing our environmental resources.
Each of the Goals listed above have numerous objectives and strategies, countywide and by individual market areas, which provide the means of attaining their individual and collective results.
This EDP is very comprehensive (PUB). It should be noted that there is considerable overlap between goals, objectives and strategies and that responsibility for the objectives/strategies involves a host of public and private stakeholders. Without cooperation amongst all parties, the EDP will fail.
EDP Driving Principles
Through the analysis and stakeholder participation driven by the vision statement, the development of goals and objectives were based upon the four following principles:
One: To effectively pursue economic growth, the community must better manage its total economic process (business development, tourist development, community development and workforce development). A new emphasis on thinking and acting as a unified county, requiring better cooperation between cities, the county and private sector, and as a multi-county (MSA) region.
Two: The county’s economic development efforts must refocus attention on programs to support existing business and existing job skills. Further economic diversification is also needed, through continued development of Manufacturing, Hospitality, Distribution, Health Care and Knowledge-Based Commerce; through aggressive, targeted business attraction programs; and through expanded support for entrepreneurs and growth in our midst.
Three: Significantly greater funds must be invested over the next decade in adult workforce development and education, public infrastructure, and managing and marketing this sustainable economic development program.
Four: To achieve effective and consistent leadership for planning, infrastructure investment and the delivery of other public services to support economic development, cooperation among all stakeholders will be required. Economic Growth & Diversification and Environmental Protection must proceed hand-in-hand.
Initiatives have been identified throughout the EDP to address most of the County’s opportunities for future growth. However, funding these proposals will not be easy. Although the County has committed significant resources, other public and private resources (state, regional and national) will be required to fully implement the EDP.
The attention of civic and private sector leaders must now focus on ensuring that the community has viable mechanisms to harness the public and private resources at hand, to develop additional resources, and to deploy them in a way that will make a tangible difference in the future performance of Pasco’s economy.
EDP Presentations, Background Information and Study Documents
Economic Development Plan Goals Presentation (PPT)
Strengths, Weaknesses, Opportunities, and Threats Powerpoint Presentation (PPT)
Pasco Historical Study (PDF) (Policom) (January, 2012) (PDF)
Target Industry White Paper (February, 2012) (PDF)
Pasco Economic Base (February, 2012) (PDF)
Annual Economic Development Activity Report - 2017 (PDF)
Harbors Plan (PDF)