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Posts Tagged ‘Enabler’

Your Economic Development Website Budget

Every economic development website is unique and its budget will depend on the municipality’s priorities and circumstances. Nevertheless there are best practices that can be applied universally to help managers plan their website budgets.

Relate Dollars to Goals

Expenditures must be planned realistically so that the website can be an enabler for your department in achieving its goals. And those goals must be consistent with the municipality’s strategic economic development plan.

Budgets for economic development websites in North America can and do vary by a factor of 1,000 — but a website’s success does not depend as much on the level of investment as on the appropriate allocation of expenditures under the headings of your economic development goals.

Plan for Continuous Improvement

Technology solutions such as websites, by their nature, are designed to grow and evolve. Your economic-development website will require upgrades as new functions and capabilities become mainstream, as your needs change, and as the technology itself changes. It is important to remember when planning your budget that the website will always be a fluid solution, one that requires a continuous improvement (more…)

Economic Development Website ROI

The job of an economic development department is to increase the tax base by attracting and facilitating business growth. Why does the department need an investment attraction website to do this?

How can the department justify an investment in developing or enhancing a website, when funds for new initiatives are so hard to come by? In other words, what is the ROI?

The answer lies in articulating the critical role of economic development, realizing the unique tasks that can be supported by a website to carry out that role, and then evaluating the success of your site in supporting those tasks.

Advantages and Risks

First of all, economic development expenditures are justified by the need for a community to expand its tax base and re-invest in the quality of life for all who live there. An increased tax base is made possible by new and/or expanding businesses. They enable a community to sustain (more…)