Mission
The mission of the EDC is to drive economic development and create an environment in which businesses and residents prosper in Kansas City, Missouri.
The EDC will achieve its mission by:
- Collaborating and partnering with other agencies.
- Enhancing its brand identity and value to customers and stakeholders.
- Obtaining diversified funding support to ensure adequate long-term financial stability.
- Creatively using economic development tools to leverage private investment and maximize benefits to the residents of Kansas City, Missouri.
- Influencing and implementing public policy to achieve maximum benefit for the City.
Priority 1: Retain and grow existing Kansas City, Missouri businesses.
Strategic Direction 1
Increase EDC’s knowledge and effectiveness in meeting our customers’ needs.
- Gather business intelligence and input to assess the level of risk and opportunity for Kansas City, Missouri businesses.
- Deploy programs and assistance based on data capture and designed to address identified needs.
- Monitor, evaluate and adjust programs based on performance metrics and ROI.
Strategic Direction 2
Improve the business environment (regulatory, capital, tools) so that businesses can thrive.
- Broaden the advocacy agenda in key areas.
- Increase the level of legislative activity at the federal, state and local levels.
Strategic Direction 3
Increase the level of awareness and value of the EDC to customers and stakeholders.
- Communicate EDC’s value proposition so that it is understood and embraced by the business community.
- Measure and deliver on direct and indirect ROI.
Priority 2: Support development of disadvantaged and opportunity areas within Kansas City, Missouri.
Strategic Direction 1
Identify both disadvantaged as well as opportunity areas in order to facilitate development/redevelopment.
- Target declining or dis-invested areas and identify appropriate tools and actions.
- Target opportunity areas and identify appropriate tools and actions.
Strategic Direction 2
Advocate and assist in implementing pro-business/development procedures and policies in Kansas City, Missouri.
- Recommend improvements to the various City permitting processes.
- Provide business and developer “One-Stop-Shop” information and guidance.
- Proactively communicate to the development community, various City policy and procedure requirements.
- Monitor and modify if necessary, the implementation procedures for the City’s new Economic Development and Incentives Policy.
- Create a “fast-track” approval process for projects in disadvantaged and opportunity areas.
Strategic Direction 3
Identify neighborhood and community priorities for economic development.
- Utilize proactive URAs, PIEAs and 353 areas.
- Integrate the various housing programs into a unified effort.
Strategic Direction 4
Advocate for increased financial resources to support these initiatives.
- Facilitate creation of a pooled private investment fund.
- Identify projects which can take advantage of the City’s New Market Tax Credit program.
Priority 3: Promote workforce development and job growth opportunities for Kansas City, Missouri residents
Strategic Direction 1
Establish linkages between employers and employees.
- Integrate a First Source Hiring component in all applicable development agreements.
- Coordinate more closely with FEC, UMKC and Career Tech Academies.
Strategic Direction 2
Target workforce opportunities in high unemployment and former employment clusters where infrastructure and workforce currently exist.
- Provide special incentives.
- Focus incentives on affordable and stable housing.
- Convene stakeholder groups to leverage resources
Strategic Direction 3
Advocate for increased resources for training, education and transportation that provide opportunities for the Kansas City workforce.
- Be a convener/catalyst to bring public/private groups together.
- Work more closely with the KC WIRED program.
Strategic Direction 4
Advocate for programs and resources of value to the “creative class”.
- Participate in KCADC’s Workforce 2.0 Initiative.
Priority 4: Promote entrepreneurship in order to support new business formation as well as growth opportunities for existing Kansas City, Missouri businesses.
Strategic Direction 1
Identify partnership opportunities to advance the “entrepreneurial agenda” within Kansas City.
- Seek collaborative relationships with the Bloch School of Business at UMKC and with the Kauffman Foundation.
- Expand the current level of utilization of KC SourceLink.
- Identify life science oriented entrepreneurship and innovation opportunities.
Strategic Direction 2
Expand the utilization of the EDC Loan Corporation’s small business financing programs.
- Consolidate the Loan Corporation’s Revolving Loan Fund programs and target their use in the urban core.
- Increase the use of the SBA 504 small business loan program throughout the city.
Priority 5: Recruit new business investment to the city.
Strategic Direction 1
Continue and strengthen relationships with the KCADC, Missouri Dept. of Economic Development and the Missouri Partnership.
Strategic Direction 2
Pursue legislative efforts designed to improve the city’s and state’s business climate and modernize its economic development tools.
- Continue to create an annual legislative agenda and include education and innovation initiatives.
- Align the EDC’s legislative agenda with those of the City of Kansas City, Missouri and the Greater Kansas City Chamber.
Strategic Direction 3
Continue to enhance the EDC’s marketing tools.
- Undertake the next phase of the EDC’s website re-engineering.
- Produce new written collateral materials in the revised format.
