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ECONOMIC DIVERSIFICATION

ECONOMIC DIVERSIFICATION

ECONOMIC DIVERSIFICATION

ECONOMIC DIVERSIFICATION

WHY DIVERSIFY?

The Market Street Study revealed that the region has experienced a stable economy that buffered the region from the Great Recession but depends heavily on the public sector employment, which experiences unpredictable troop movement from Fort Riley and fluctuating student enrollment.  The benefit of employment anchors such as Kansas State University and Fort Riley is that the region can pursue economic diversification from a very solid base of assets and leverage these employers as catalysts for improving the region's job mix and talent across multiple skills sets.

STRATEGIES

1.1. Build External Awareness 

 

1.2. Business Retention and Expansion

 

1.3. Growth of Supportive Infrastructure

LEAD ROLES

Several proposed tactics and action items are being led by individual economic development organizations throughout the three-county region, while several are being coordinated through partnerships, and regional and state economic development entities such as the Greater Manhattan Economic Partnership (GMEP), Knowledge-Based Economic Development (KBED), and Network Kansas.

1.1. BUILD EXTERNAL AWARENESS OF THE REGION'S ASSETS AMONG PROSPECT EMPLOYERS, INVESTORS, & CORPORATE RELOCATION PROFESSIONALS

External Awareness

1.2. SUPPORT & FACILITATE THE RETENTION AND EXPANSION OF EXISTING REGIONAL BUSINESSES.

Strategy 1.2.

1.3. PROVIDE SUFFICIENT SUPPLY OF ECONOMIC GROWTH SUPPORTIVE INFRASTRUCTURE.

Strategy 1.3.
  • External Awareness
  • Business Retention & Expansion
  • Growth of Supportive Infrastructure
  • Enhance Capacity of Pre-K to 20 Educational Institutions
  • Retention of Graduates to Region
  • Integrate Soldiers into Community
  • Increase Medical Education Capacity
  • Improve Attraction of Talent to Region
  • Suitable Housing
  • Quality of Place
  • Grow and Diversify the Innovation Ecosystem
  • Enhance Support for Entrepreneurs of All Ages