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<br />Lamar County - Paris Economic Development Plan <br /> <br />Economic Development Plan - Synopsis <br /> <br />Lamar County has had a history of growing economically over the years while most of the rural <br />counties in the United States have been declining. While it has grown in size, the quality of the <br />growth, relative to the standard of living of the people who live and work in the county may <br />actually be on the decline. <br /> <br />Lamar County and Paris may now face the same fate as most of rural America. Already <br />suffering from the loss of manufacturing jobs, projections show the area will continue to decline <br />economically over the next twenty years. Therefore.... <br /> <br />It is the goal of the Paris community to diversify the local economy, cause it to grow in size, <br />and significantly improve its quality over the next twenty years. <br /> <br />· The Task: Over the next twenty years, Paris will create approximately 3,000 primary <br />industry jobs. The wage for the jobs created should be about 120% of the county average <br />wage in the year they are formed. <br /> <br />This task shall be assigned to: Paris Economic Development Corporation (PEDC). <br /> <br />To reach the long term goal a comprehensive economic development program needs to be <br />initiated. Additionally, the community needs to create a portion of the new primary jobs as soon <br />as possible to prevent the economy from declining. Therefore, over the next five years, goals for <br />the community include: <br /> <br />1. Create approximately 500 new primary industry jobs. <br />2. Develop 500 acres of improved, approved industrial real estate. <br />3. Educate the community on the need for a comprehensive economic development <br />program. <br /> <br />Below are key issues and tasks vital to the achievement of the five year goal. A chart showing <br />these issues and tasks appears at the end of this report. <br /> <br />Goal # 1 - Create approximately 500 new primary industry jobs <br /> <br />1. The present economic development existing industry program will have to be expanded. <br /> <br />A. The Task: Within the next six months, the PEDC will expand this program. <br /> <br />This task shall be assigned to: PEDe. <br /> <br />B. The Task: Within the next twelve months, all primary industry "type" businesses will be <br />identified. Staff from PEDC will have confidential meetings with these businesses to <br />determine what action the community can take to encourage more employment. <br /> <br />This task shall be assigned to: PEDe. <br /> <br />Paris Economic Development Corporation <br /> <br />Page I <br />