The Floyd County EDA engaged Creative Economic Development Consulting to develop strategies to reverse perceived economic barriers and turn them into positives. The result will be an action plan that takes those positives and uses them to enhance the EDA’s program of work and to build a marketing strategy. The project was divided into two phases. Phase 1 includes a review of background documents, SWOT Analysis, identification of partners, review of incentives, assessment of product, and business survey. All of the research from Phase 1 was compiled into a competitive position analysis. Phase 2 will develop an action plan and marketing strategy based on Floyd County’s competitive position.
The competitive position analysis identified that Floyd County has a wide target audience for its marketing program. Floyd County’s approach will need to be as diverse as the people and businesses it is trying to recruit. Creativity is a hallmark of Floyd County and a necessity of the economic development program. In a rural community that lacks traditional industrial development assets, the Floyd County EDA is building a strategy using their unique assets and opportunities.