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Economic Gardening can work in Columbia-Adair Co., KY Chairman of Economic Development Authority promotes plan to incubate businesses in Columbia and Adair Co., KY. Programs in Liberty, London, and Scottsville, KY are already underway, with overall great success. Adair County has trained, certified entrepreneurial coaches, a special entrepreneurial section at Adair Public Library, a unique resource in Lindsey Wilson College, backing of CJE and Mayor, and an Economic Development Authority and Chamber of Commerce set to be the driving force behind this grassroots, bootstrap plan to invigorate the local economy. By Doug McCammish Chairman, Columbia-Adair Co. Economic Development Authority In these difficult economic times when everyone is looking for jobs either for themselves or others, there are several interesting things going on, although not necessarily in Washington. Several states and communities are pursuing a strategy called "Economic Gardening" in which the objective is to support new and growing small businesses, rather than spend tax dollars trying to attract large factories. Others are recognizing that, contrary to what you might think, tough economic times seem to foster new product and service ideas . It is sort of a "given lemons, make lemonade" theme. Term coined in Littleton, CO The term "Economic Gardening" was coined by a group in Littleton, Colorado around 1989, on the basis that small but growing companies, if nurtured, will create the most new jobs. The fact that small businesses create more new jobs than big ones has been known for some time. That, along with the well-publicized failures of big factory incentive plans and the simple economic truth that we don't have state or local money for incentives anyway, has led to the growth of the movement. Florida, for instance, now has a state-wide effort to implement economic gardening. More information can be found at a couple of websites:Economic Gardening technically focuses on "second stage" companies that are ready for growth, but it is so closely related to the entrepreneurial startup of new small businesses in the first place, that it is hard to separate them. In Kentucky, the Entrepreneurial Coaches Institute at UK is training volunteers across the state to help people with ideas for a business get started. Kaye Bowman and Sharon Burton in Adair County have completed this training and Kaye and LeeAnn Jessee have established a the Entrepreneurial Resource Center at the library to provide support. CACEDA has visited successful Kentucky locations where approach has worked The Columbia-Adair Economic Development Authority (formerly, the Industrial Authority) has been following this approach and has made visits to Kentucky locations where the approach has been successful. There seem to be two or three critical factors for success:
This story was posted on 2010-02-25 05:13:34
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