Erie releases results of economic analysis

The Erie Regional Chamber and Growth Partnership released results last week of an economic analysis that identified six industries best suited for economic development initiatives throughout Erie County.

The five-month analysis defines the types of businesses best suited for Erie and identifies potential sources of funding, Jake Rouch, the chamber’s vice president of economic development, said.

The best businesses for the area include agriculture and aquaculture, food and beverage processing, high-value business services with a focus on tech, gaming, and digital, high value-added manufacturing, life sciences, and year-round recreation.

The chamber hired Garner Economics to conduct the analysis and 52 community factors were analyzed and compared the same set of factors for the state and the country. The report includes the region’s assets and challenges, the fundamental driving forces of Erie’s economy, and additional opportunities to enhance the region’s economic vitality.

“The report from Garner Economics is the first step of many to come for strategic business attraction efforts to our region,” James Grunke, Erie Regional Chamber and Growth Partnership CEO, said. “One of the most important takeaways from this report is that we’ve not only identified our advantages, but we’ve also identified our weaknesses, which allows us to now take corrective action.”