Creating your Climate Economic Development Toolbox

How can community leaders and economic developers create a toolbox to help local businesses with climate change?

By Martin Karl Vanags

I have moved several times in my career to three different states and back again to my hometown. With all of those moves, I have dragged various things with me. Before moving, I have gotten rid of what we call junk, or stuff you realize you don’t need or have used in a long time. Yet every time I move, it seems like I haven’t rid myself of anything, really.

I need to do the Marie Kondo ritual more often.

The one thing I have hung on to is my tools. My tools and those that my father handed me are more than sentimental. They actually help me do things, fix things and prosper.

I have a toolbox and tools to do just about everything. I even often buy tools, thinking I need them when the same tool is buried somewhere in a box. You can never have enough Allen Wrench sets, right?

The toolbox is essential for every endeavor. If you are a community seeking to understand how to help your community deal with climate change or even address it for the first time, there is help. You can download the Five-Step Climate Change Opportunity Guide, which will provide you with the first steps to starting the discussion and developing a plan.

But you need more. What do you say when a local business asks you for help with mitigating or adapting to climate change? Most economic developers are not equipped to deal with these questions. So what do you do? Here are five steps you can take to make your local business retention and expansion program more robust as it pertains to climate change:

1. Information and Resources Hub — Create a centralized information hub or online platform that provides local businesses with resources, guides, and case studies on climate change mitigation and adaptation strategies. This hub can offer information on available incentives, grants, and programs that support energy efficiency, renewable energy adoption, and sustainable practices. By consolidating valuable resources, economic development professionals can help businesses access relevant information more easily.
2. Partnership Facilitation — Foster collaborations and partnerships between local businesses, government agencies, research institutions, and community organizations. Economic development professionals can facilitate connections and networking opportunities for businesses to engage with experts and organizations specializing in energy efficiency, renewable energy, and climate resilience. These partnerships can lead to knowledge sharing, capacity building, and access to funding opportunities.
3. Workforce Development Programs — Develop workforce training programs tailored to the needs of local businesses in transitioning to a low-carbon economy. Economic development professionals can collaborate with educational institutions and training providers to offer skill development programs in areas such as renewable energy installation, energy auditing, green building practices, and sustainable supply chain management. These programs can help businesses enhance their workforce capabilities and embrace sustainable practices effectively.
4. Grant and Funding Assistance — Identify and promote available grants, funding opportunities, and financial incentives related to climate change mitigation and adaptation. Economic development professionals can actively seek out state, federal, and private funding sources that support energy efficiency upgrades, renewable energy projects, climate resilience initiatives, and sustainability-focused research and development. By providing guidance and assistance in accessing these funding opportunities, businesses can overcome financial barriers and invest in climate-friendly solutions.
5. Community Engagement and Awareness — Encourage businesses to engage with the local community and raise awareness about climate change issues. Economic development professionals can support businesses in organizing sustainability events, educational workshops, and public outreach campaigns to promote climate action and sustainability. This can create a supportive environment for businesses to implement and showcase their climate-friendly practices while fostering a culture of environmental stewardship within the community.

By utilizing these toolbox items, economic development professionals can play a crucial role in supporting local companies in their efforts to mitigate and adapt to climate change. These actions can contribute to the overall sustainability and resilience of the local economy while also promoting the well-being of the community and environment.