City Manager's Annual Report 2017 | A Year In Review | Page 35

ECONOMIC
DEVELOPMENT
Port St. Lucie’s approach to economic development has changed
in the wake of the Great Recession. In hindsight, the economic
downturn fundamentally changed the way many Florida
policymakers view economic development. Many will no longer
support large, up-front cash incentives to lure the projects
to the community. Port St. Lucie officials are now working to
attract businesses by promoting the City’s inherent strengths,
and using low-risk tools, such as tax abatements, infrastructure
improvements and expedited permitting. Now that the City is
recovering – both commercial and residential building permits
are on the rise – the organization has made some key changes to
ensure businesses know they are welcomed and appreciated.
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