In Scottsdale, economic development immediately connotes the abundant tangible and intangible attributes that distinguish the community from all others. Based on our extensive research and personal interviews, it is clear that Scottsdale’s hallmarks of economic development and success are directly linked to the community’s distinctive and unsurpassed quality of life, its majestic natural environment, its sensible built environment, the people of Scottsdale, the quality of residential communities and housing stock, and the fact that Scottsdale offers virtually every aspect of what makes a community appealing: shopping, resorts, dining, major events, arts and culture, parks and open spaces, recreation, etc. Therefore, defining economic development for Scottsdale must fully integrate these attributes as a critical component.
According to the International Economic Development Council, in the broadest sense, economic development encompasses three major areas:
- Policies that government undertakes to meet broad economic objectives including inflation control, high employment, and sustainable growth.
- Policies and programs to provide services including building highways, managing parks, and providing medical access to the disadvantaged.
- Policies and programs explicitly directed at improving the business climate through specific efforts, business finance, marketing, neighborhood development, business retention and expansion, technology transfer, real estate development and others.