Even with well-planned strategies, things don’t always go accordingly. There are challenges all local governments face, and the Economic Development Council of South Miami-Dade isn’t immune. Here are some of the top barriers all EDCs may face.
Population Growth Rates
Population growth can be random, and depending on the circumstances, it can be negative. It can put a strain on existing resources and lead to difficulty in obtaining new resources.
Lack of Human Resources
Education, agriculture, healthcare, and technology are just a few components that are needed to create a vital society, but not all communities have these in place. The Economic Development Council of South Miami-Dade places great value on its continuous improvement of available human resources.
Unpopular Investment Destinations
Not all environments are attractive to potential investors or businesses, and economic development relies on investors. Weak economic projects lead to a decline in employment opportunities and a lack of support for a community.
Lack of Transportation Services
Many residents of South Miami-Dade don’t realize the importance of a solid transportation network. Without it, industrial and economic competitiveness is negatively impacted. A good transportation network is needed to lower the cost of moving people and freight.
Inability to Find Innovative Solutions
As an example, many societies are dependent on oil. When alternative means are examined and put in place, it reduces the overall oil bill. Innovative solutions to traditional means improve economies. Innovation leads to higher productivity and greater output of goods and services.
Are You Interested in Learning More About the Economic Development Council of South Miami-Dade?
Since 1993, the EDC has worked diligently to improve and advance the quality of life for all residents and businesses of South Miami-Dade. Our key priorities include supporting business expansion, creating new jobs, and improving local infrastructure.
To stay up to date on the latest EDC news, you’re invited to subscribe to our newsletter.
For questions about current measures to improve our economy, or if you are interested in learning more about what we do, please contact us today at 305-378-9470. We look forward to hearing from you!