Regional Economic Development Strategy
This document is a summary of the second update of the Regional Economic Development Strategy (REDS). The Regional Ecomomic Development Strategy is the framework for administration of the Regional Economic Development Partnership Program (REDPP) and, as such, guides prioritization of projects submitted to the REDS Council.
The Finger Lakes Regional Economic Development Strategy provides an overview of the region’s current economic condition, details goals and strategies for addressing economic development concerns and potentials, and outlines steps necessary for implementation. It also provides updated information on national, state, and county trends. This summary report contains the Finger Lakes Regional Strategy and individual strategies that were developed for Metropolitan Rochester, the Finger Lakes (East), and the Genesee Valley.
The strategy was drafted to serve the region as a tool for informed, focused discourse on economic development concerns. Under no circumstances should the framework presented constrain the REDS Council’s ability to help the region to meet ever changing challenges and opportunities. In this period of limited state funding for economic development, it is important that the REDS Council quickly discard ideas that do not work and embrace better ones. This is a living document and should be treated as such.
Metro Rochester Strategies
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Maintain and stimulate investment in workforce development
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Strengthen core educational competencies
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Develop effective partnerships between schools and businesses
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Link workforce training to business/company demands
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Consolidate services within Monroe County;
- School districts
- Towns and villages
- City and County
- Cross government -
Support export industries
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Reduce taxes to be competitive with other states
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Develop a comprehensive retention strategy
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Reform Workers’ Compensation System
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Address the perception of high crime
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Market the region
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Develop community investment fund
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Institute regulatory reform
Finger Lakes (East) Strategies
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Create a more favorable business climate
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Lower property taxes
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Reform Workers' Compensation System
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Lower utility costs
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Regulatory reform
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Provide more education in technical and agricultural skills
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Develop a comprehensive plan for tourism development and increase the awareness of the role tourism plays in the region
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Facilitate community visioning, goal setting, and land use planning
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Build awareness of the importance of agriculture in the regional economy by updating the Regional Agriculture Strategic Plan(RASP) incorporating community participation
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Develop better infrastructure
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Consolidate municipalities
Metro Rochester Strategies
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Lower taxes
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Reform Workers' Compensation System
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Institute regulatory reform
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Develop community public relations plan (followed by a marketing plan)
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Build a stronger network between all sectors
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Provide training and increase awareness of the need for advanced skills
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Preserve community banking and enhance the availability of capital
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Expand opportunities for displaced workers
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Match growth to infrastructure
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Strengthen education/business alliances
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Enhance tourism development
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Last Modified: May 02, 2007