Page 32 - Wallingford Magazine Issue 55 Summer 2025

The ABC's of Economic
EDC in Action A – Attraction: Drawing new businesses and
Development

investments to our community.
B – Business Retention: Supporting existing
businesses to help them stay and grow.
considered. There are several reasons
for such diligence: a more competitive C – Collaboration: Working with local
business environment in general, stakeholders, governments, and regional partners
heightened competition for the most to achieve economic goals.
qualified employees, a significantly D – Diversification: Encouraging a mix of
more knowledge-based economy, and industries to ensure economic stability.
changes in the national business culture E – Entrepreneurship: Fostering local startups and
that demand more participation in social innovation.
issues by companies.
F – Financing Tools: Offering incentives, grants, or
In a high-cost economy like tax abatements to support development.
Connecticut’s, these additional factors G – Growth: Increasing jobs, wages, and tax base
As we have chronicled in previous take on added importance. This state’s responsibly.
columns, your Economic Development business climate and high tax structure H – Housing: Promoting diverse and affordable
Commission has undergone some work against towns like Wallingford, so housing options for workforce and community
significant changes in membership in factors such as housing costs, quality needs.
the past six months. Additionally, Don of life and workforce training take on I – Infrastructure: Investing in roads, broadband,
Crouch, the Economic Development added significance. utilities, and transportation systems.
Specialist, and the EDC Secretary Stacie J – Jobs: Creating and retaining quality
McCarthy, are also relatively recent employment opportunities.
additions as well.
K – Knowledge Economy: Supporting sectors
The turnover in staff and commission driven by education, technology, and innovation.
members has brought new perspectives, L – Location Advantage: Leveraging geographic,
and has given everyone involved an logistical, and quality-of-life assets.
opportunity to take a fresh look at how M – Marketing: Promoting our community’s assets
the EDC sees itself within the town to site selectors and investors/developers.
government. To that end, Don Crouch
has put together an innovative list he N – Networking: Building relationships with
calls the ABCs of Economic Development. business and government leaders, developers, and
community groups.
It’s a creative attempt to explain all the
various ways that his department goes O – Onboarding: Helping new businesses navigate
about its work. permits, regulations, and connect with resources.

As a reader peruses the list, one element Your EDC has been adapting to this new P – Planning: Strategizing land use and
development plans that align with long-term goals.
of the EDC’s work becomes very clear: environment. Not only do we emphasize Q – Quality of Life: Ensuring a safe, vibrant, and
to be an effective vehicle to both attract our reasonable tax rates, low utility costs livable community.
new businesses to Wallingford and also and central location within the state
retain the businesses that have located to prospective companies, but we also R – Redevelopment: Revitalizing underused or
in our town, this department must be have excellent relationships established blighted properties and districts.
conversant in many more aspects of the with town departments that deal with S – Site Readiness: Preparing land or buildings to
Town of Wallingford than was necessary educational services, infrastructure be market-ready.
in the past. improvement and all manner of ways
that municipal government creates or T – Talent Development: Aligning workforce
Prospective industrial and commercial maintains a successful community that training with employer needs.
businesses seeking a location in which companies wish to be part of. U – Utility Services: Ensuring access to water,
to locate their operation used to center sewer, electricity, and fiber. Wallingford has town-
their inquiry totally around economic This is your Economic Development owned utilities which is a big plus.
issues: tax rates, municipal incentives, Commission. We represent Wallingford V – Visioning: Engaging the community in setting
government assistance, infrastructure to the commercial and industrial a shared direction for the future.
and the like. In short, the question that community that is looking for a location, W – Workforce Development: Attracting and
needed to be answered was: does the but we provide them with an in depth retaining skilled workers.
town provide the necessities a business look that takes far more into account
needs to financially succeed in the town? than once was the case. Our goal is to X – eXporting: Encouraging local businesses to
reach global markets. Wallingford is Worldwide.
While these issues still exist, of course, know our town for more than dollars and
most forward-looking companies are cents. If they understand everything we Y – Year-over-Year Growth: Highlighting sustained
making a much more thorough analysis have to offer as a community, we believe economic improvement and tracking progress.
and weighing factors in their decision- Wallingford will always stand out. Z – Zoning: Using land-use policies to guide
making that heretofore were not sustainable and strategic development.
32 WALLINGFORD MAGAZINE - SUMMER 2025