Economic Strategy

Merced County and the Central Valley's (Merced's) economic development coalition have designed their economic development strategy with the intent of creating lasting, sustainable and broad-based development. The coalition's mission is to make the area a place of economic opportunity by offering abundant employment opportunities and a broad base of services to meet the needs of the region. In order to achieve its mission, the coalition seeks to:

• Diversify and balance the local economies
  
  
• Create new, full-time, year-round jobs paying at least the national average wage
  
  
• Achieve economic performance at least equal to the national average
  
  
• Decrease the area's high unemployment rates
  
  
• Raise per-capita incomes

The coalition's economic goals and strategies remain consistent with those of the Central Valley region and state. The desire to diversify and balance the economy, create full-time year-round jobs paying the national average, and achieve economic performance on a par with the national average, are the economic goals of the entire seven-county FTZ service region.

In order to accomplish their goals, the counties developed a range of incentives and economic development initiatives to retain and expand local business and industry and to recruit new business and industry.

Additionally, counties have implemented a continuing strategy to assist in its economic development efforts. The components of this ongoing process are listed below.

• Retain, expand and foster new local business and industry by continuing participation in retention and expansion programs for local businesses, and continuing to develop and carry out programs and workshops for local businesses
  

• Recruit new business and industry, both international and domestic, by responding to industrial/commercial prospects and generating new prospects
  

• Increase the supply of industrial and commercial lands and industrial buildings by generating plans to bring additional industrial sites on-line and implementing actions to bring additional sites on-line
  

• Continue to improve the Central Valley's image for development

Coordinate the overall development program with other organizations and the private sector

To contribute to this diversity of incentives, initiatives and programs, the counties must have a Foreign-Trade Zone.

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