Working and living in small towns makes business closures personal for community leaders. Whether the reason is owner retirement, changing trends or international competition, closures stick with us. Communities suffer each loss in tax revenue, jobs, leadership and morale. To address the voids, University of Illinois Extension shares insightful counter strategies in various ways. Please see related articles archived at www.extension.illinois.edu/blogs/building-entrepreneurial-communities:
Streator is a forward thinking city. Successful incubation programs operate like the businesses they help launch, whether they’re located in rural areas or more urban areas. When budgets are tight, best practice programs identify efficiencies to conserve scarce resources. But they also develop new programs and implement innovation ideas that can bring additional revenue.
Morton Economic Development Council and Moreton Chamber of Commerce identified “the advancement of its economic development efforts” and the “creation of a livable community for all” as key priorities, and subsequently engaged with University of Illinois Extension and UIUC Department of Urban and Regional Planning in an ap