What Does ‘Quality of Life’ Mean to Economic Developers? (Part 1)
November 20, 2024
Michelle Black - Camion Associates
"Community and economic developers, local politicians, and business owners often talk about “quality of life” and its importance in attracting and retaining residents, workers, and businesses to a place. But what is it exactly within the context of economic development and why is it so important?
Quality of life is a somewhat intangible concept that determines whether or not an area is desirable. It is a crucial element of a community’s economic growth and success. It’s about creating a place where people want to live, work, and enjoy life.
Communities that prioritize cultivating a good quality of life gain a strategic advantage in economic development. While it can vary between places, there are certain universal factors that contribute to a thriving environment. This series will explore these factors to help understand how the right quality of life can attract businesses, talent, and population growth.
Defining Quality of Life
When an economic developer talks about quality of life, they are typically referring to the overall well-being and satisfaction of a community’s residents. This satisfaction level is determined by examining multiple factors within a community, including:
- Amenities
- Education (both attainment and what is offered)
- Access to quality healthcare
- Public safety
- A clean and healthy environment
- Housing options and availability
- Transportation options and availability
- Infrastructure quality and accessibility
- Community engagement
To fully understand what we mean by quality of life, let’s break down each of these categories a bit further."
Read Part 1 of the full and in-depth article here. Part 2, here.