Tuesday, March 11, 2008

Strategy 2008

Economic Development Strategy - Executive Summary
March 15, 2008

The City of Peoria is a quality community located in central Illinois. The City has tremendous assets that make Peoria an attractive place to live, work and play.

Our goals are to:

Promote economic growth
Increase the diversity of the economic base
Provide solid jobs at good wages for Peoria’s citizens

Towards these ends the City will:

Lead the redevelopment of older areas
Plan for more affordable industrial land
Compete with surrounding communities

Promote Sustainable Development
Strive to lower taxes
Market the city

Special focus areas include:

The Southern Gateway
Eagle View Biotech Park with Tax Increment Financing
The Warehouse / Arts District with Tax Increment Financing
Renaissance Park (Med-Tech)
The Riverfront
The Growth Cells
Sheridan / McClure Business District
Prospect Road Business District
Other areas as directed by City Council

Current City efforts include:

Nine Tax Increment Financing Districts
An Enterprise Zone
An aggressive marketing effort