news & events
Two historic Phelps County banks completed a merger January 2 that both hope will strengthen the financial more...
You know the old adage, “’Tis an ill wind that blows no one good”? The drought may more...
Goals & Objectives
What it’s going to take
The Prosperity Project is ambitious and aggressive. If we reach our goals, it will mean a 5.7 percent increase in the number of total jobs in Phelps County. This number also represents 17% growth in primary jobs.
The Phelps County Development Corporation has determined a five-year budget of $3.5 million, based upon several factors including what other communities located in the Midwest have raised in similar multi-year programs. It was also based upon an extensive feasibility study involving interviews with 68 community and business leaders in Phelps County during May 2011.
Resources for the program will leverage private investment with current public dollars, with top investors serving actively in the governance of the program’s implementation through the Visionary Society.
What we’ll get back
The five-year goals of the Prosperity Project include 200 new primary jobs with an average wage of $14.34/hour based on Phelps County statistics. The anticipated effects of the program include:
- Help for existing businesses to grow and prosper
- More assistance for entrepreneurs and start-ups
- A stronger competitive position for the County through partnered, coordinated, proactive marketing
- Higher per capita income and consumer expenditures
- Higher levels of new capital investment
- Stronger relationships with area entities dedicated to community and economic development for Phelps County
The bottom line
Our targeted goal is to create 200 new primary and 26 new secondary jobs for a total of 226 new jobs. This would result in new families moving to Phelps County to help us refill our schools, strengthen our business community and spread out the tax base. We expect it will lower the average age of the population and help revitalize programs and institutions that have gone a bit stale. We believe it will spur new housing and encourage new restaurants, retail and other business options.
Our philosophy of economic development — backed by years of research and mountains of data — is that when a community creates new jobs, services and amenities will follow. We believe the Prosperity Project will maintain the current positive overall business climate and improve the quality of life for everyone in Phelps County.