2019-2024 Economic Development Strategic Plan

New Big Box Retailer Increase in Average Wages by $1/hour Existing Business Adds 25 New Jobs Population Increase of 100 Existing Business Reinvests $5MM in Spencer A Brewery & Restaurant Incentives

Incentives can have a direct impact on the ability to achieve certain economic development outcomes. Thus, Respondents were asked to evaluate both the importance of an incentive in each outcome, as well as whether they generally felt the City should provide an incentive. The results indicate general support for incentives (with some exceptions). Further, incentives were judged as most important in attracting new industry.

How Important are Incentives to the Outcome?

Should City Use Incentives?

COMMUNITY INTERVIEWS The Consultant completed individual interviews vii that included the Mayor, a majority of the Grow Spencer Commission members, all the City Council members and a cross-section of local leaders (business leaders, non or not-for-profit organizations, utilities, regional economic development group, etc.). These interviews were opportunities for the Consultant to gain perspective and depth on not only the history of economic development in Spencer, but the obstacles and opportunities going forward.

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