"Smart" and Focused Economic Development Program

By Pamela Gross

The City of Loveland needs to understand and analyze where our revenue comes from and target high growth/high payroll companies.

The city must have regular dialogue with all businesses and especially those in the Loveland Commerce Park. We need to anticipate their expansion needs so that we do not lose them. A case in point is the recent exodus of Pure Romance, a $100 million dollar company, to downtown Cincinnati. Were we in touch with this company and, did we ask the right questions to retain this company? We need to be proactive and understand how we rate as a business location, how can we better assist businesses with their future plans.

"Smart" Economic Development also means attracting businesses that are sustainable and will create high paying jobs. The City of Loveland should undertake a targeted business marketing program to attract high growth businesses including those in research and development, life sciences and other healthcare industries.

We also need to provide start- up companies an environment in which they can experiment with new ideas and grow new industries. For example, a small business incubator could be established in a vacant building where small businesses can share expenses and resources while developing new technologies.

Although retail does not generate as much tax revenue as industrial, viable retail does enhance our quality of life by providing services for our residents and visitors. If part of the proposed development of Loveland station is residential these are the types of businesses residents want to see as well as an entertainment district which provides additional venues for a walkable downtown.