Retention is important

“It used to be that jobs and economic opportunities drew migrants.  No longer.  Today’s populations are more mobile than ever.  Armed with information and freed by technology, today’s migrants choose their communities much more carefully than ever before.  Therefore, communities must be savvy in the retention and attraction of people.  In fact, if communities don’t inspire their citizens, they run the risk of becoming failed communities.”
- From “Beyond Economic Survival” by Centre for Innovative & Entrepreneurial Leadership.  Taken from the Rurban Fringe.

I’ve talked about the importance of making a community desirable.  Studies have found a strong link between residents’ attachment and economic growth.  The first step is to watch out for behaviour that kill organizations and municipalities.  Second, figure out a proper Urban Plan that aims to transform a community into one people would pay a premium to be a part of (read Mississauga’s Mayor McCallion’s regret).  Third, identify businesses that would be loss leaders for the community.

Then just sit back and enjoy stable property values, higher quality of life and strong economic growth. 

Full report here.