Meeting Tough Times With 'Economic Gardening'

Local businesses are beginning to feel the pinch as the national economic downturn worsens, and the City of Columbia will be emphasizing its economic development services to support them in coming months.

The help is being marketed under the rubric "economic gardening"--a local economic development strategy that focuses on supporting local entrepreneurs and small businesses instead of attempting to attract new businesses from outside the area.

One element of this strategy is creating a business database that will help decision-makers analyze the local economy, identify particular strengths and challenges, and measure progress. As part of this information gathering, intern Meagan Reeves is making door-to-door visits to business and property owners along Main St. to complete an inventory of this key district.

The City provides matching funds (up to $3000) to encourage Main Street property owners to enhance their buildings' "curb appeal" with improvements such as painting, awnings, shutters, plaques, window boxes, step/sidewalk work, landscaping, planters and benches. This program has become increasingly popular and visible as it has helped transform buildings owned by realtor Tammy Mitchell Hines and financial advisor Brian Estes.

And Columbia's Community & Economic Development Department isn't just working to help Main Street, either. The City has also dedicated resources to assist local business owners wherever they may be located within the city limits. Available services include direct business assistance, where staff can work individually with a business to assess its needs and provide the best programs to establish or expand that business, and the Revolving Loan Fund. Targeted to assist with retention, growth and diversification of local businesses, this fund offers lower interest rates than conventional loans; when repaid, money is put back into the fund and made available for loans to other businesses.

Finally, City economic development staff has been working with members of the Monroe County Economic Development Council on a new program called "Think Monroe County First"--when launched in November, this program will help encourage local residents to keep purchasing locally.