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Lamar County — Paris Economic Development Plan <br />Paris and Lamar County has had a history of growing economically over the years while most of <br />the rural counties in the United States have been declining. While it has grown in size, the <br />quality of the growth, relative to the standard of living of the people who live and work in the <br />area, has been on actual decline for several years. <br />Lamar County now faces the same fate as most of rural America. Already suffering from the <br />loss of manufacturing jobs, projections show the area will continue to decline economically over <br />the next twenty years.' <br />However, these projections are based upon the assumption the community will not do anything <br />to prevent it from happening. <br />The Paris community has the opportunity to influence its "economic future." By creating an <br />aggressive economic development program, it can keep the area from declining and cause it to <br />grow, improving the standard of living for all. <br />Pete Kampfer, Executive Director, PEDC (hereafter called Researcher) has been employed to <br />create an Economic Development Plan for the City. <br />Components of the Plan include not only this document, but also the following: <br />• Historical, Comparative Economic Analysis of Paris which details the history of the <br />economy, identifies its most important components, and compares the economy to the <br />rest of the nation. <br />• Business Incentives Program for Paris which describes various investments made by <br />communities to assist in the expansion or relocation of primary businesses. <br />• Target Industry Study which identifies the industrial sectors most likely to locate in Paris. <br />The Plan was created by the Researcher after creating these studies. The Researcher met with <br />four focus groups, comprised of more than 40 citizens, to gather their input regarding the nature <br />of Paris and the need for a program. <br />This Plan presents a series of issues regarding how to improve the economy. Following each <br />issue is a recommendation by the Researcher as to what the community needs to do. <br />Throughout the Plan, there is continuous reference to the Paris community. Economic <br />development influences all businesses, all levels of local government, and virtually every <br />resident in an area. There is no one person or organization which can cause an economic <br />development program to be successful. All stakeholders need to be involved, hence the <br />reference to the "community." <br />1 For a detailed description of the Lamar County economy, please consult the Lamar County Baseline Study. <br />Paris Economic Development Corporation Page 7 <br />