Economic Development is a critical component of any city's success. It is defined as the process by which a city or region improves its economic well-being and quality of life for its citizens. This can be achieved through various strategies, such as business retention and expansion, workforce development, new business attraction, and the promotion of entrepreneurship. While Hudson's Economic Development team focuses on all aspects of economic development, business retention and expansion efforts are crucial to maintain and improve the City’s quality of life. How does business retention benefit a city and its citizens?
Having healthy businesses in our community ensures our citizens have great employment opportunities and our community’s income tax base continues to be strong. In Ohio, people pay income taxes in the city where they work, not the City where they live. Even with the increased prevalence of working from home and hybrid schedules, having a large employer base in town is critical to Hudson’s long-term financial strength.
One way Hudson’s Economic Development team works to retain businesses is through regular Business Retention and Expansion (BRE) meetings. A BRE informs the City about a business’s strategic vision, growth potential, and challenges. Using that information, the Economic Development team will provide resources for workforce development, talent pipelines, upskilling grant opportunities, and networking recommendations, among other topics. Hudson has a robust business community made up of everything from mom-and-pop shops to publicly traded, global enterprises, and each has their own specific set of needs. By meeting regularly with businesses, the City can quickly provide targeted resources that can help them grow and thrive.
On average, Economic Development meets with 10 businesses each month. At a business’s request, our regional support partners from Team NEO and Elevate Greater Akron can attend these meetings to provide additional resources.
Are you a business that hasn’t met with Hudson’s Economic Development team yet? Reach out to Katie Behnke, Economic Development Manager, via email or at (330) 342-1983 to begin the conversation! We are here to help you grow and succeed.