Editorial: Business growth is vital for cities
Economic development is vital to cities like Farmington and Rosemount. Adding business is important financially, and it’s important psychologically.
Many of the benefits are obvious, others less so. Adding commercial tenants in the city helps spread the tax burden being borne by residents. It provides jobs. It makes it easier for residents to get the things they need day to day.
That’s meaningful for practical reasons. If residents don’t have to leave town to do their shopping it makes things easier for them. That’s nice. It saves everyone time.
But having shopping available locally also helps build connections. When you can find everything you need in your hometown, you’re less likely to leave. The more you stay, the more you feel connected to your city. The more connected you feel, the more likely you are to get involved. And the more involved residents are, the better off a city will be.
Farmington and Rosemount have both made efforts in recent years to draw business to town. Efforts were hampered for several years by a struggling economy, but with things picking up in that area there appears to be some opportunities.
Rosemount’s latest push involves paying as much as $150,000 over three years to a company called Buxton that will help the city reach out to potential business tenants. It sounds like a lot at first glance, and it is. But if it works, the cost could all be worth it.