The town of Madison’s Economic Development Commission is passionate about enhancing the town’s economic viability for the betterment of the residents, property owners, and businesses. The Commission is comprised solely of town residents, and without town personnel assistance. Per the Commission’s mission statement, “The success of the EDC will be measured by the Town’s ability to strengthen and diversify its tax base while preserving the desirable “quality of life” attributes so cherished by Madison residents.” With this in mind, and incorporating several key studies that have been completed over the past few years, the Commission is in the process of pursuing the following:
Evaluating the feasibility of a Downtown Development Authority
Driving a website “renewal” designed to draw businesses, foot traffic, and future businesses to the town
Engaging key property owners in determining the appetite for improving their properties’ long-term capability.
A recent success has been the creation of a Planning and Development Handbook which is now available on the website. The purpose of this document is to provide a high-level guide to prospective businesses relative to the town’s on-boarding process and procedure. Our meetings are typically held at the Town Campus on the second Thursday of each month – please consider attending. I hope you like the look and feel of our new website.
Madison Economic Development Commission
The EDC monitors economic conditions, researches trends affecting Town revenue/expenses, and prepares recommendations to strengthen and diversify the Town’s tax base. The success of the EDC will be measured by the Town’s ability to strengthen and diversify its tax base while preserving the desirable “quality of life” attributes so cherished by Madison residents. EDC seeks options for increasing revenue growth without mill rate increases by:
Identifying and improving under-performing areas Seeking opportunities to diversify the tax base to increase the grand list
Seeking “non-grand list” revenue opportunities
Suggesting viable and acceptable incentives for revenue positive development, and Uncovering revenue productive strategies for residential and commercial development.
Economic Development Objectives
Retain and reinforce the economic prospects of existing businesses.
Expand and diversify the Town’s tax base.
Promote investment and redevelopment to gain a higher level and quality of taxable land uses.
Provide independent, objective analysis of development opportunities and options.
Effectively communicate the Town’s economic issues to residents, business owners, and Town officials.