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ECONOMIC DEVELOPMENT PLAN OF WORK <br />The following Economic Development Plan of Work presents seven strategic initiatives and several key objectives <br />designed to support the Paris Economic Development Corporation in achieving its mission to create and retain jobs and <br />talent for Paris and Lamar County. This plan will be implemented over the next two years and is based on the <br />recommendations of staff, input from City Council and the work from the following PEDC committees: Incentive Review <br />Committee, Land Committee, Policy Revie Committee and Marketing Committee. Note 6/2020: it is the Executive <br />Director's recommendation that once these strategic initiatives are completed, the plan be updated to include focused <br />initiatives that emphasize retaining and attracting talent. While supporting the creation and retention of jobs are the <br />organization's core activities, retention and attraction of talent significantly impact our efforts and ability to be <br />successful. Additionally, the role of economic developers continues to evolve, and it is becoming commonplace for <br />economic development organizations to take a more active role in supporting initiatives focused on talent, quality of life, <br />residential housing, and more. <br />STRATEGIC INITIATIVES <br />To meet the expectations driven by our purpose and outlined in our mission statement, we have established a broad set <br />of strategic initiatives that will help guide our activity. These strategic initiatives are as follows: <br />I. Foster the retention and growth of jobs <br />II. Attract new employers and industry <br />III. Cultivate an entrepreneurial ecosystem <br />IV. Support workforce development programming <br />V. Manage and expand the community's land and building assets <br />VI. Encourage unified vision for Paris, Lamar County and the PEDC <br />VII. Explore internal and external funding mechanisms <br />2 — PLAN UPDATE 6/2025 <br />