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Comprehensive Plan Economic Development Element <br />Identification of the County's Constraints and Potentials <br />As with any area, Indian River County has economic development constraints and economic <br />development potentials. Generally, a constraint is a defined characteristic of an area that in some <br />way hinders economic development. Conversely, a potential is a characteristic that supports or <br />encourages economic development. Focusing on the constraints and potentials provides a <br />foundation for the development of objectives and policies relating to economic development. <br />Central to a community's ability to attract industry and enhance economic development is the <br />perception that outside firms have of that community. According to "An Economic Development <br />Toolbox: Strategies and Methods", published by the American Planning Association and written by <br />Terry Morre, Stuart Mech and James Ebenhoh, companies consider a number of criteria when <br />deciding to locate to a community. Those criteria include: <br />■ Access to , quality of, quantity of, and cost of needed resources and supplies; <br />■ Availability of development ready land and/or buildings (appropriately zoned and supplied <br />with utilities and services); <br />■ Cost and productivity of labor (one of the most important factors); <br />■ Location relative to supplies and markets (less important for knowledge based industries such <br />as the software development industry); <br />■ Availability of public and private infrastructure (roads, water, sewer, airports, cargo facilities, <br />energy systems, and telecommunications); <br />■ Presence of and existing business cluster (available labor pool and access to suppliers that <br />service the cluster); <br />■ Amenities and other quality of life factors (good schools, clean environment, affordable and <br />appropriate housing, and diverse and exciting culture); and <br />■ Government policies (regulations, taxes, and incentives). <br />In Indian River County, economic development constraints and potentials can affect each of the <br />factors listed. Therefore, identifying constraints and potentials will allow the county to improve the <br />perception that outside firms develop of Indian River County. Generally, the county's economic <br />development constraints and potentials range from the county's geography to its infrastructure. <br />Community Development Department Indian River County 31 <br />