The Economic Development Department has several purposes: job creation, job retention and expansion, stabilization or increase of the local tax base, and job diversification.
Having formed a public-private partnership with the local chamber of commerce, utility companies, banks, and real estate developers, this office is the beginning stage for formulating and coordinating all economic development programs. Under Ohio statutory law, the state gives local governments economic development tools in which to implement a comprehensive plan. Some of these tools include: zoning land for industry and businesses, providing amenities and infrastructure, underwriting risk, and creating an ongoing economic development financing and promotion capacity.
The Economic Development Department also provides staff review and administrative support to Troy Main Street and the Troy Development Council.