New Bedford 2020 - VHB.com

A City Master Plan New Bedford 2020striking similarities between small- and mid-sized cities that enable us to think differently about how toadvocate policies for our renewal and redevelopment. Small- to mid-sized gateway cities have often beenoverlooked by federal and state policy makers between large urban areas and sprawling suburbancommunities. The similar challenges that these cities face along with New Bedford include:> Greater action required by the state in pro-city policies;> A need to be as safe (and perceived to be) as the suburbs;> Identification of their “unique economy”;> A need for catalytic development and infrastructure projects;> State-of-the-art training for new middle class jobs; and> Stable and strong neighborhoods.To focus sustaining long-term growth, it is critical to understand the broader national and statewide context.New Bedford is not alone as a mid-sized American city that has had to struggle to find a new identity in a newknowledge-based economy. There are many best practices that can be adapted in New Bedford from othersuccessful cities throughout the Commonwealth and the country.It is also important to understand that while there is much that New Bedford has in common with these cities,there is much that sets us apart. Our history, coastal location, diverse population, existing workforce, anddevelopment assets all provide New Bedford with a significant competitive advantage for new and sustainablegrowth in the 21 st century.A Strategic ApproachSince 2006, the economic development agenda of New Bedford has been built on an understanding thatcreating a strategic vision of the city’s future is essential, and without a sound and comprehensive strategy,sustained economic development is impossible. The fishing industry remains a cornerstone for our localeconomy, and we continue to support our long standing existing industries, but we must create a broaderplatform of emerging industry sectors that will provide new growth and job creation for decades to come.As such, the City began to implement acomprehensive strategy for economicdevelopment that is based on theunderstanding of the challenges that theGateway Cities face as well as the uniquecharacteristics of New Bedford that provide uswith competitive advantage in themarketplace.This strategy is based on a 10-year cycle ofrenewal, and with public safety andeducational attainment serving as thefoundation, a diverse and multi-facetedapproach of which “six pillars of activity”progress simultaneously with the goal of longtermsustainable economic development. The“six pillars of activity” are shown in Figure 5.2and are described in Table 5-1.Figure 5.2: Strategy for Economic DevelopmentSource: New Bedford Economic Development Council Board of Directors dated 01.18.07Jobs and Business5-3