The Economic Development Commission launched three initiatives, as the first step, in crafting a “smart growth” economic development strategy for Old Lyme focused on maintaining the small-town character and charm of our unique town. We realized the success of the plan depended upon providing opportunities for the public’s voice to be heard. Therefore, we designed the project with this in mind. The three studies are now complete, and we are pleased to share the results with you. We believe the findings in these reports will provide essential insights for not only the mission of the EDC but will provide valuable information for the town’s other boards, commissions, and stakeholders.
The EDC has two main goals: first, attracting new businesses that fit the character of Old Lyme, and second, supporting existing businesses. These studies provided information essential in meeting these goals. We were delighted by the community’s high level of participation, and we sincerely thank those who participated in completing the survey and to the SWOT attendees who gave up a portion of their free time to share their ideas with the commission. We are committed to turning these findings into recommendations aimed at enhancing our town’s future. Our efforts were greatly assisted by Advance Ct (formerly known as CERC, Connecticut Economic Resource Center) in crafting these three reports:
Please note these initiatives were completed prior to the COVID-19 emergency. We recognize the business and economic landscape will be altered which will require adjustments to our future plans. We believe we are in a better position to confront the “new normal” that will result from the impact of the virus by having the results from these projects as a baseline to work with.
We invited all residents and all businesses to complete an Economic Development Survey and the response was overwhelming. Seven hundred thirty surveys were completed (we anticipated 150 responses), the largest percentage response of any of the approximate eighty municipalities Advance CT has surveyed.
We conducted two economic Strengths, Weaknesses, Opportunities, and Threats (SWOT) workshops designed to obtain feedback from a significant cross-section of town stakeholders, including a variety of businesses, residents, town leaders, nonprofit organizations, and clergy.
Old Lyme Economic Development Study
This study provided valuable data and expert analysis of current economic conditions and recommendations for the future economic development of Old Lyme.
We encourage you to review the results of all three reports on the EDC’s web page. We welcome your questions, comments, and suggestions.
Please feel free to email us at firstname.lastname@example.org
Thanks again for your participation and interest in the future of the Old Lyme, a town we all treasure.
Justin Fuller & Howard Margules EDC Co-Chairs