Opportunity Area #25: Streamline Business Friendly Atmosphere
Opportunity Area #25 – Streamline Business Friendly Atmosphere
Local communities can play a critical role in reducing soft costs of development by streamlining and standardizing the permitting process and by providing accessible information to the public. Reducing upfront costs of projects can in turn improve the return on investment of the projects and help boost a community’s competitiveness.
Over 82% of respondents believe it’s appropriate for local communities to require higher than minimum quality standards for development.
25.A Explore and provide permitting incentives to strategically encourage economic development in prioritized locations.
25.B Reduce regulatory and permitting requirements for areas targeted for redevelopment consistent with local community comprehensive plans.
25.C OKI to provide best practices on entitlement review procedures in the development process.
25.D Explore collaboration opportunities for simplifying local business taxation and establishing enhanced tax incentives in multi-community or regional economic development models.