Fayetteville, a city that has seen substantial growth in recent years, is putting its stakes on continued prosperity with a newly adopted five-year plan aimed at economic development. After a thorough six-month study, conducted in collaboration with the city's Economic Development Department and Garner Economics, the Fayetteville City Council has given the green light to the ambitious blueprint for growth. The plan, informed by significant community involvement, including feedback from over 160 key stakeholders through focus groups and a digital survey, serves as an updated roadmap outlying the city’s direction through 2025.
"This new plan allows the City to set a course focusing on economic vitality for the next five years," Fayetteville Economic Development Director Lori Funderwhite stated, signaling the intentions to build upon past successes such as the Trilith development and the expansion at Piedmont Fayette Hospital. The City looks to attract high-value businesses, bolster existing ones, and spruce up its capacity to bring in talent and investment. According to a statement obtained by the City of Fayetteville, Garner Economics has pinpointed four key sectors ripe for growth: Sports Tourism, Creative Services, Retail & Hospitality, and Technology & Professional Services.
At the core of Fayetteville’s updated strategy lies a set of recommendations designed to keep the city's momentum going. Among them are to explore the feasibility of a new City sports complex, the creation and staffing of a Convention & Visitors Bureau, and the pursuit of housing options that are within reach for more of the city's residents. Moreover, beautifying the city's gateways and refining communication efforts with the public are also on the agenda, as well as building stronger regional ties with Fayette County Development Authority and engaging a retail recruitment firm.
Further extending its strategic arms, the city plans to establish a Corporate Economic Development Advisory Board, a move aimed to align local businesses with the city's economic aspirations, the new plan dubbed "Re-Imagining Fayetteville: A 5-Year Economic Development Action Plan", is accessible to the public, who can view and download it from the City’s official website. The economic development discourse in Fayetteville candidly reflects a balance, not just of financial targets but of the collective hopes and ambitions of a community resolute on maintaining its ascent.
