Fargo City Commission Learning Ways to Boost City’s Economic Growth
Ecenomic Development expert comes to Fargo to discuss successful business incentives
FARGO, N.D. — Economic development has been a hot topic at Fargo City Hall for several months.
Fargo City Commissioners said the economic growth over the last two to three decades in the city has been consistent.
They said this is all thanks to business incentives and how they play a crucial role in the economy.
“If you don’t have them, you put yourself in a real problem,” said President & CEO of the International Economic Development Council, Jeff Finkle.
Finkle was brought to Fargo City Hall to give a better explanation of how incentives are the best bet for a successful workplace.
“I guarantee you this will only prove beneficial for the community in the long haul,” said Finkle.
Crucial incentives in a business could be as simple as workforce training grants, cash awards to close deals and infrastructure improvement.
But types of incentives are not the only things on the minds of city commissioners.
“I think having perspective, as well as maybe a better education on why these programs are in place, will help viewers and help folks understand the decisions we often make,” said City Commissioner, Tony Grindberg.
And as many cities as Finkle has traveled to, he says Fargo businesses seem to be in the clear.
“They’re going to choose Fargo any day of the week,” said Finkle.
Finkle said there are many different aspects that appeal to outside business leaders.
“It’s vibrant, it has downtown housing, it has retail in downtown,” he explained. “It doesn’t look like it’s going to roll up the next time a big wind comes along and send it away in the dust.”
However, he says one downside the city could face is state budget cuts that could create a road block to gaining business success.
“Programs that cities rely on to help poor people,” he said. “If we lose those programs, it would be a real disaster.”
Experts said in order to have business development success, you have to think globally and act locally.
“It’s good for business, it’s good for livelihood and it’s good for community growth,” said Grindberg.
Which boils down to less cuts…and more incentives.
IEDC is the world’s largest economic development membership organization and specializes in diversifying the field of economic development.