DeSoto Economic Development Discusses Business Support and Urban Planning Initiatives

DeSoto is set to enhance its economic development initiatives following a recent government meeting where key strategies and updates were discussed. A significant focus was placed on improving small business support and attracting new franchises to the area.

During the meeting, officials highlighted the success of the "Big Idea" program, which includes a pitch competition aimed at fostering entrepreneurship. The program has reportedly received positive feedback from local businesses, indicating that the support provided has been instrumental in their growth. Additionally, the collaboration with the DeSoto Economic Development Corporation (DEC) has led to increased business counseling services available every Tuesday at the local chamber of commerce.

A major barrier to attracting franchises was identified: the lack of available commercial space. Officials noted that many potential franchisees are deterred by the absence of suitable locations, as most franchises prefer to occupy newly built spaces rather than older, less appealing properties. The city is actively working with developers to create more commercial opportunities, particularly in areas like the Wintergreen and Cockrell Hill development.

The meeting also addressed the need for a consolidated incentive policy to streamline support for businesses. This policy aims to combine various existing incentives into a more accessible format, making it easier for business owners to understand and utilize available resources. A draft of this policy is expected to be presented in the upcoming September meeting.

In terms of community engagement, the city plans to enhance its outreach efforts, including a dashboard to track economic development activities. This tool will provide transparency regarding ongoing projects and their statuses, allowing residents to stay informed about developments in their community.

Looking ahead, DeSoto officials are committed to addressing the challenges faced by local businesses and fostering a more conducive environment for economic growth. With these initiatives, the city aims to not only attract new businesses but also support existing ones, ultimately enhancing the overall economic landscape of DeSoto.