Economic Development

FY 2024 ANNUAL BUDGET

Recruit outside businesses to locate in Eau Claire in order to increase quality of living, add well-paying jobs for our citizens and grow the tax base. The division markets the City as a great place to live, work, and play. The division is responsible for administering the city’s economic development goals and strategies, business incentive programs, promoting the local economy as a desirable location, collecting and maintaining statistical information and negotiating the sale of land in the city’s industrial parks. Most recently, the Economic Development division has been heavily involved in the redevelopment of the downtown area. The division serves over 70,000 residents, 3,000+ businesses, with over 600 in the downtown.


Objectives:

  • Lead agency for economic development projects in the City of Eau Claire.
  • Downtown revitalization.
  • Financial assistance through loan programs, including Revolving Loan Fund (City), Micro Loan, Commercial Building Façade Loan, Revolving Loan Fund (EDA), and the EDA CARES Act Loan Fund for COVID relief.
  • Assist businesses with business retention, expansion, and relocation: available property database, financial programs, site selection assistance, build-to-suit partners, resource information and entrepreneur assistance.
  • Marketing the community to select companies in targeted industries for relocation/expansion.
  • Collaborate with other local and regional organizations in business retention and expansion, recruitment, and workforce development.
  • Statistical information collection (industrial and commercial construction statistics, vacancy inventory rates, industrial park absorption, cost of living index and workforce data).
  • Providing relevant information to businesses, developers, entrepreneurs, and citizens.
  • Maintaining the City’s economic development website, social media, and property inventory website.
  • Continuous improvements to website and social media to increase SEO and grow the community’s online presence to attract new business, investment, and workforce.
  • Researching economic development trends, best practices and growth industries.
  • Evaluating existing programs and resources effectiveness.
  • Identify potential sites for new development, both commercial and residential.
  • Marketing the strengths/assets of the community.
  • Evaluating new programs for marketing the community for new business.
  • Other initiatives (community involvement, student talent retention and creative economy efforts).

Economic Development Revenues & Other Financing Sources

Economic Development Expenditures & Other Financing Uses