Appointed and ex-officio members of the Ad Hoc Economic Development Advisory Council and staff stand for a photo at the September 2015 EDAC meeting.
The City of Frederick Economic Development Advisory Council (EDAC) meets quarterly to provide guidance on a variety of economic matters including the annual economic development work program, regulatory policy, business incentives and programs, and other special issues. In 2016, EDAC will address a specific topic at each quarterly meeting:
1st Quarter - Economic development work plan & budget
2nd Quarter - Business impediments and updates to work completed to remove impediments
3rd Quarter - Business support programs and incentives
4th Quarter - Special projects, vision, and business infrastructure
Most recently, members of EDAC provided assistance with the Department of Economic Development's (DED) 2016 Work Plan.
In conjunction with the unveiling of an annual work plan, DED introduced a revised mission statement and key concepts for the department:
Mission Statement - The City of Frederick Department of Economic Development (DED) strives to increase economic opportunity in Frederick by supporting and promoting a community where businesses and residents can thrive.
Key Concepts - DED is focused on supporting a thriving community based on the following initiatives:
Marketing Frederick to the business community to attract employment and investment
Providing and connecting businesses to available resources and services
Developing policies and programs to strengthen Frederick's competitiveness
Residents – Economic Development benefits City residents both directly and indirectly:
Jobs – Employers provide jobs with family supporting wages and benefits
Tax base – Nearly 30% of the taxes paid are by commercial entities
Businesses share the tax burden with residents
Additional tax revenues provide a high-level of City services (i.e. each additional $100,000 in annual tax contributions equates to a new police officer position)
Businesses provide access to services and goods (i.e. shopping, dining, services)
Community health – A strong economy and employment base lowers crime rates, foreclosures, etc.
Special projects – DED provides support to projects including Carroll Creek Park and the Downtown Hotel & Conference Center
Grants – DED grant writing efforts offset City investment and thereby reducing citizen contributions
Entrepreneurial support – Providing targeted support to citizens interested in starting a business
Community pride – DED marketing and communications contribute to positive promotion of the community and increase pride in Frederick
