I believe problems in a community can be solved with growth, and growth begins with investing in initiatives that make the community a better place to live, work and visit. That’s why I knew we needed to re-imagine Somerset’s economy through downtown revitalization and new industrial recruitment.
Soon after I took office, we partnered with Pulaski County Government to create the Somerset-Pulaski Economic Development Authority (SPEDA), which endeavors to approach economic development holistically through the lens of quality of life and place. SPEDA serves as an umbrella for workforce development, tourism, entrepreneurship and industrial recruitment.
Pre-2018, our local economy was stagnant and our downtown was quiet; our young people were leaving and not returning home. There was no excitement in, or for, Somerset. But by focusing on quality of life and place, we have completely turned the ship around. We have invested in outdoor art and entertainment to make our downtown more vibrant and welcoming. We built a community market where residents can buy fresh produce and handmade goods. And we’re renovating our parks and encouraging residents to live healthier lifestyles, as a healthy community is crucial to a healthy economy.
As a result, we’ve seen record tourism revenue, new revenue for our city without having to increase taxes, and millions in business investment in three short years.
I enjoyed talking about this effort with Matt Tackett, executive director of the Kentucky Association for Economic Development, in his KAED Netcast series.
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