Sample Essay on Economic Development Track Record Memo

Market research and economic survey show that Orlando City has achieved marvellous economic development record during the last five years. Findings from an economic survey of the city dwellers have made it clear that numerous economic developments have been initiated within the last five years. I would like to bring to your attention some of these economic developments in the Orlando City, which you might consider adopting.

Over the past 5 years, the Orlando City’s municipal budget deficit has fallen by approximately 22%, because of important economic investments such the initiation of a Business Development Division. This division recruits workers, retains them and grows the variety businesses within Orlando City. Additionally, the division seeks to a favourable environment for businesses to cater for the new uprising economy. It also aims to improve the state of the city’s market giving the entrepreneurs the chance for business expansion. Entrepreneur residents of Orlando equally benefit from regional business leadership programs that help them towards improving their businesses.

Before the current major took office five years ago, the city’s economy was shrinking very fast and the unemployment rate was at its peak, that is, 23%. However, over the last 5 years, they have created more than 200,000 new jobs and the unemployment rate has drastically dropped to 17.4%. In addition, the city has recorded a more than 11.5% rebound in the Real Gross Domestic Product (GDP) over the last 3 years. By providing more incentives to local business persons and investors, numerous industries and new businesses have been established in the city, thereby making the economy work for everyone.

Honourable Mayor, in order to make our own city better and ensure that the economy works for everybody in the city, you might need to consider some of the economic development initiatives undertaken by Orlando City within the last five years (Cohen and Norbert 213).

Work Cited

Cohen, Jeffrey H, and Norbert Dannhaeuser. An Anthropological Approach. Walnut Creek, CA: Rowman & Littlefield, 2002. Print.