Attracting new business and jobs will be critical to get the local economy back on track. In tonight's Economy Rockford report an expert says facing these challenges starts with existing businesses.
"The outside world is going to change with our without us. "
But one thing we can control is our response.
Economic development expert Janyce Fadden says recovery starts with the local business community.
She says existing businesses can help accelerate growth and doing business with each other is another part to staying strong.
That also helps attract new business.
Fadden says companies like to be in clusters and in areas where others are doing similar things.
"Most of our job growth is going to come... 70 percent of it from the companies that are already here and they have to be our number one focus to make sure they have the resources tools and support they need to be successful in the community. companies like to be where other companies who do similar things are . That's so that they have an effective workforce and they feel like well if that company feels like its cost effective to be there from an infrastructure standpoint than maybe it is for me."
Fadden says most of the economic development council's planning efforts.... deal with a five year period.