EDASC 101: Getting to know economic development in Skagit County

What is economic development? We at EDASC are asked that question frequently.

In short, it is the intentional practice of improving a community’s economic wellbeing, prosperity, and quality of life. A lot goes into economic development, much of it behind the scenes as we work confidentially with local, domestic and overseas businesses.

That’s why we want to share more about our work during Economic Development Week, May 4-8. 

Economic development work can look different depending on where you live and the needs of that community, and EDASC breaks down its work into three core initiatives. These are business attraction, business retention and expansion, and capacity building. 

The processes by which we tackle these initiatives are numerous and complex.

We work with prospective companies on site location, workforce training, identifying incentives and access to capital. We partner with local organizations to develop programs and share information. We provide resources for existing businesses, including no-cost business advising and workshops in both English and Spanish.

Here’s a breakdown of our core initiatives:

Business Attraction

Business attraction is what people most often associate with economic development efforts. Netting the right business for a community can help improve diversity of a region’s economy. Business attraction is often a long game, taking months or even years before a business evaluates its top communities and decides where to locate.

EDASC is the first point of contact for businesses and site selectors exploring opportunities to invest in and establish operations in Skagit County. EDASC assists in identifying potential locations and funding sources, navigating permitting and regulatory processes, making necessary and beneficial connections, and researching and facilitating support services.  EDASC works in close partnership with Skagit County, cities, towns, and ports, and the Washington State Department of Commerce in these activities.

Business Retention and Expansion

Business Retention and Expansion (BRE) is a core pillar of any economic development organization interested in growing and maintaining a community’s economy. The lion’s share of new capital investment, tax revenues and job creation derive directly from work with existing companies that are interested in opportunities to sustain and grow operations. 

At EDASC, we focus heavily on BRE, proactively reaching out to businesses of all sizes to better understand their work, what barriers and gaps they are facing, what is going well, and how we might be able to assist them as we connect them to vital resources, programs, experts and assets. 

Capacity Building 

EDASC takes a holistic approach to capacity building, which is a nontraditional approach for economic development organizations. This means EDASC also looks at education systems, government, child care, transportation, inclusion, equity, public health, and more.

This approach fosters a healthier community and creates a more resilient one during economic downturns.

EDASC’s own Leadership Skagit program is an example of capacity building. EDASC also has a presence on the boards of the Skagit Housing Consortium, Population Health Trust, Northwest Workforce Council, and the Skagit Tourism Bureau, all considered key parts of our capacity building efforts.