About the EDC
The Economic Development Commission (EDC) for Tiverton represents a private/public partnership between the elected officials and business community to foster and promote the economic growth of the Town of Tiverton The business climate encourages new business and industry to locate to Tiverton and supports the continued success of existing business and industry. There is a positive attitude toward growth.You are invited to learn more about our area, a growing market place offering a lower cost of doing business and providing great business opportunities.
Knowing the nature of Economic Development within Tiverton is critical to understanding what it is and why it is important to the town. Being knowledgeable is truly the responsibility of all the citizens of the community and is a direct task of all the government agencies of the town. Comprehensive economic development is not possible without the participation of citizens and the pro-activity of a forward looking local government.
Economic Development activity in Tiverton can be described as (1) Local Interest Development or; (2) Major Commercial Development. Both are important to our community as they offer significant benefits – employment opportunities, economic growth, quality of life, and tax base expansion. They differ significantly as to the type of investment return, priority and resources required to bring them to fruition. Being able to distinguish between the two is important.
Local Interest Development has to do with the enhancement, or startup of small businesses such as a local restaurant, community grocery retail, service station, retail or repair shop, tourist service or attraction, etc.; and/or projects such as a bike path, refurbishment of the Stone Bridge Abutment, monuments; or infrastructure improvements – waste water management, streets, sidewalks, underground electrical cables, schools, landscaping. Individually, each of these has a smaller scale economic impact on the town. Taken collectively the impact is of great benefit as they enhance the community economically and aesthetically. Local Interest Development has a lot to do with making the community desirable for business as well as everyday living.
Major Commercial Development is large scale, requires a direct role of town government and large public or private land areas. This type of development has high scale economic benefit that is manifested by sizable improvement in the tax base, employment with major impact related and supporting businesses. Development of this nature is in competition communities statewide, nationally and even internationally. Success is determined by carefully defining the competitive advantages of the proposed site community. These include geographical location as well as proximity to transportation – traffic arteries, airports, water, rail as well as skilled and unskilled labor demographics. The offering of inducements, for example: Tax Incremental Financing (TIF); subsidized or no cost real estate; community, state and federal grants; tax relief, infrastructure design and upgrade. Tiverton is in the process of just such development in the 177 acre town owned industrial park. To be successful, we have to THINK BIG!