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PARIS ECONOMIC DEVELOPMEHT CORPORATIOH <br />4VERAI.L ECONOMIC DEVELt~PMENT PROGRAM <br />Pursuant to the voters of Paris desires expressed in the May,1993, <br />election, the Paris City Council created the Paris Economic Development <br />Corporation (PEDC}. The charge of the Paris City Council was simple in <br />statement: To develop a comprehensive business incentive package with <br />approval criteria that would encourage employment growth, focusing all <br />endeavors on the implementation of the Mission Statement. However, an overall <br />economic development program is anything but simple. Economic development, <br />in the fullest sense, is a mix af bringing money (new dollars) and investment into <br />the City. <br />The PEDC Program of Work develops specific actions and programs that <br />take advantage of Paris' strengths and mitigate weaknesses in order to <br />accomplish the Council's charge. It focuses the activities of the PEDC by <br />concentrating on those programs that have the best chance of succeeding. The <br />Program of Work involves the process of: <br />• Establishing goals and objec~ves; <br />• Concentrating on limited issues; <br />• Developing general policy recommendations; and <br />• Implementing specific actions. <br />Integral to the process of selecting goals and objectives is the <br />acknowledgment that there are restraints on the program and activities selected <br />for inclusion. Besides the legal restric#ions that dictate how the sales tax <br />revenues can be spent, there is the reality that to be successful the efforts of the <br />Corporation must be targeted. <br />