Issue link: http://townofcary.uberflip.com/i/791946
CHAPTER 3:WORK Policy Policy Intent Policy 4: Diversify Cary's Economy Support development of an increasingly diverse economy through the targeted recruitment or growth of selected under-represented industries, in coordination with regional partners. The intent of this policy is to increase the diversity of Cary's economic base, in order to make the community more economically resilient to unforeseen downturns in different market sectors. Secondarily, this policy also supports diversification of the regional Triangle economy, in order to make our region, as a whole, more economically resilient. Policy 5: Attract New, High Value Businesses Attract new businesses that provide a high quality- of-life business culture and higher than average wages relative to the business's industry. The intent of this policy is to focus local business recruitment efforts on targeted businesses that pay higher than average wages relative to the business's industry nationwide. This may also have the effect of also focusing on the premier businesses within any given industrial sector. Another intent of this policy is that focusing on industries that pay higher-than-average wages can help to support the growth of the Town's fiscal base, which can in turn help to support the types of public services and facilities to bolster the Town's locational appeal. Policy 6: Attract and Nurture Small Businesses Prioritize, promote, and commit to a supportive regulatory, programmatic, and investment environment to attract and nurture small businesses and start-ups, and to support the growth of existing small businesses. The intent of this policy is to encourage and support the development of new small businesses, and the expansion of existing small businesses. In order to realize the objectives of this policy, it is anticipated that the Town will work closely with the Cary Chamber of Commerce and other cooperative entities. A key objective of this policy is to create a local regulatory, programmatic, and business environment that is supportive of small businesses. The overall aim is that the local regulatory and business environment should first avoid creating undue barriers to market entry and market expansion for small enterprises, and second help to support the growth of those businesses. Policy 7: Ensure the Economic Growth and Vitality of Downtown Ensure the economic growth and vitality of Downtown Cary by continuing to invest in and support development of a vibrant town center where residents live, work, and play. The intent of this policy is to show strong support for the continued growth and enhancement of Downtown Cary. As the "heart and soul" of Cary, Downtown is a key community amenity that has impacts on locational appeal to new businesses, business recruitment efforts, and the quality of life provided in Cary. Continued reinvestment, public-private partnerships, and improvements to the built environment area a priority for maintaining a competitive edge in an increasingly competitive regional market. 38