What's Love Got to Do with It?

It’s not usual for economic development and Valentine’s Day to be tied together. Sure, we can talk about the economics of Valentine’s. According to a survey from the National Retail Federation (NRF), most of us will spend about twenty dollars less this year than we did last year. Fewer people will be going out for dinner this year and will chose to stay home instead. It will be more about small tokens of appreciation than it will be about extravagant purchases. For economic development we can factor out what that means for our individual communities. How our local businesses will be affected. How the local consumers are spending their money – to local mom and pops, big box or online?

As Tina Turner belted out in the 80’s, What’s Love Got to Do with It? For the sake of your community – a lot. This Valentine’s, let’s look at a few ways that love helps your community.

· Love Your Community – if you don’t, who will? Love what your community has – the good, the bad and the ugly. Proudly promote the good and work to improve the bad and revitalize the ugly. If you don’t know the good, the bad and the ugly – make it a part of your strategy to understand what your community is all about.

· Love Your Businesses – in this time of economic slowdown, you need to ensure you value your existing business base. If you don’t have a formalize business retention strategy, this is the year to make it a priority. Find out what is happening with your businesses and how you can be involved and a catalyst to their success and growth.

· Love Your Job – be passionate about what it is you do. When you are truly passionate about your community it makes everyone else want to know why they need to be living there, doing business there, spending their dollars there.

· Love Your Competitors – find out what your competitive communities are doing right, what are the best practices being implemented, why are businesses there succeeding, why is investment growing there?

As Economic Developers loving your community has got everything to do with.