DEO program highlights local assets to spur economic development for rural communities throughout Florida

MADISON - Today, the Florida Department of Economic Opportunity (DEO) announced that the City of Madison has been selected to participate in the Competitive Florida Partnership, a rural community development initiative. The Competitive Florida Partnership focuses on improving local economic development activities, particularly in the rural areas of our state. DEO will assist Madison in creating strategic economic development plans that are tailored to the community’s unique assets.

“As Florida’s economy continues its strong growth, we need to ensure that all communities are well prepared to create economic prosperity. The Competitive Florida Partnership helps rural communities capitalize on their strengths and assets for economic and community development,” said Jesse Panuccio, Executive Director of the Florida Department of Economic Opportunity. “We look forward to working with the City of Madison to explore the economic development opportunities in the community, share best practices, and engage a robust network of community and business leaders.”

“We are excited to have the City of Madison partnering with the state through the Competitive Florida Partnership to increase its economic and community development efforts,” said DEO’s Division of Community Development Director William B. Killingsworth. "The city’s highly engaged community clearly shows a passion for economic development and involvement in Competitive Florida."

Designated by VISIT FLORIDA as one of the “Best Little Towns in Florida,” the City of Madison boasts a variety of assets including natural, historic, and cultural attractions. The city demonstrated a strong level of engagement through 25 letters of support for the Competitive Florida Partnership from local business owners, elected officials, and the religious community, among others.   With more than 40 named stakeholders on the steering committee, the City of Madison clearly indicated their commitment and enthusiasm for furthering economic development in its community through Competitive Florida.

"Madison is looking forward to our participation in DEO's Competitive Florida Partnership program. The guidance and support we will receive from DEO will help us clarify our vision, re-focus on our major priorities, and develop working partnerships with state agencies committed to sustainable economic development in rural areas.  We value the assistance from DEO, and look forward to a continuing partnership in the years ahead.  Our sincere thanks to everyone who helped with the submission of the Competitive Florida Partnership grant, and for selecting the City of Madison," said Mayor Ina Thompson, Town City of Madison.

“I applaud Governor Scott and the Department of Economic Opportunity for selecting the City of Madison as a participant in this program. This is a great opportunity for Madison to showcase its assets locally while building strategies to grow the local economy and create jobs,” stated Rep. Halsey Beshears.

Senator Bill Montford said, “I was happy to see that the Department of Economic Opportunity chose the City of Madison for the Competitive Florida Partnership. The distinct attributes of Madison will ensure its success, and this project will give economic opportunities not only to the county but to the entire region.”

The Competitive Florida Partnership helps rural communities value and market local assets and challenges them to set realistic goals for advancing their economic development vision. The three currently participating communities, the City of Defuniak Springs, Putnam County, and the City of Madison, will design and develop innovative strategies that promote partnerships, community design, and a viable local economy. Since the inception of the program in 2013, the City of Port St. Joe, the City of Newberry, the City of White Springs, Desoto County, the City of Webster, the City of Starke, the City of Chiefland, and Gadsden County have participated in the program.

Asset-based economic development is a bottom-up approach that focuses on developing and promoting existing local resources to strengthen the local economy. This approach focuses on a rural community’s tangible and intangible assets combined with economic advantages and how these can be leveraged into sustainable economic growth and prosperity. Assets in a community may include: individuals and human capital; associations and voluntary networks; political advocates; historical and cultural resources; natural landscapes (including renewable and nonrenewable material resources); financial assets; the transportation networks, communications facilities, utilities, public facilities, and commercial buildings; and institutions such as schools, hospitals, and government agencies. DEO will work with the selected rural communities to identify and market these assets and facilitate promotional opportunities to bring economic development to their community. 

For more information regarding the Competitive Florida Partnership, please visit: www.floridajobs.org/CompetitiveFlorida.