May 2017
National Economic Development Week
May 8-13, 2017
Every day economic developers across the United States work to create, attract, and retain jobs in their local communities. This week, the International Economic Development Council (IEDC) is leading Economic Development Week to thank economic developers for their contributions to economic growth and the quality of life in their regions.

In our area, the Ada Jobs Foundation (AJF) contracts with the City of Ada to promote and recommend economic development opportunities with the city. AJF was established in 1998 to create and retain quality jobs for the Ada area. AJF serves as a "one-stop-shop" for economic development by coordinating with the city and other entities for the community's benefit. AJF works in partnership with state and local government, educators, training providers, financial institutions, and business. Partners include Ada Area Chamber of Commerce, Ada Industrial Development Corporation, Chickasaw Nation, City of Ada, East Central University, Pontotoc County Commissioners, Pontotoc Technology Center & Science and Natural Resources Foundation.

Top 5 Reasons Economic Development is Vital to Ada's Economy 
  1. Primary Job Creation - Economic development groups provide information and assistance to companies that create primary jobs-positions that produce goods and/or services for customers that are predominantly outside the community, bringing new dollars into the local economy. These jobs provide higher wages and support spinoff jobs.
  2. Economic Diversification - A diversified economic base helps expand the local economy and reduces a community's vulnerability to a single industry.
  3. Business Retention - Eighty percent of job creation in Ada occurs by existing companies expanding their operations. The Ada Jobs Foundation works with partner organizations such as Pontotoc Technology Center, East Central University, and the Manufacturer's Alliance on business programs to proactively solve issues and identify expansion opportunities.
  4. Increased Tax Base - New revenue generated by economic development supports, maintains, and improves local infrastructure, such as roads, parks, libraries, and emergency services.
  5. Quality of Life - More local tax dollars and jobs raise the economic tide for the entire community, including the overall standard of living for residents. 

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Q&A with Srijita "Dia" Ghosh
2017 i2E Love's Cup 2nd Place Winner
Srijita "Dia" Gosh (right) is pictured with Dr. Stacey Bolin at the i2e 2017 Love's Cup competition

Srijita Ghosh, who goes by "Dia" for short, recently took second overall in the 2017 i2E Love's Cup pitch competition in the Small Business Division. We sat down with Dia to learn more about her and her product.

AJF: How did you come to Ada? What brought you to ECU?
D: That's an interesting story, [I came] all the way from India to Ada. I was actually on the ECU women's tennis team, so I came here as a student athlete. I was always in the business school, from the very beginning. So that's how I came to Ada.

AJF: Let's talk about the product. So you said you had the idea after some of your friends...
D: So what happened was last semester, I was taking a class with Dr. Bolin. It was called "Introduction to Entrepreneurship." She just told us, 'come up with a problem, think of a solution, and that's how you get your product.' And just somehow, the first thing was this thing came to my head. I didn't know the name at that time, but immediately I thought of something to help patients who have panic attacks. I've witnessed my own friends [having panic attacks]. So, that was the problem I wanted to solve. And also I suffer from low levels of anxiety, and I was not even aware of that. I was interviewing our school psychology professor, and she's known me since my freshman semester. And I was asking a question, just like you're asking me questions right now. I was interviewing her for my project and all of a sudden, she turned the tables and she started asking me questions. And she pointed out how I came up with this idea, because I myself suffer from anxiety and my brain subconsciously came up with the solution. So that was pretty cool.

AJF: We want to help develop local entrepreneurs and we see it as a really crucial thing that we have people that develop new technology and think about new things in Ada. What are two or three things that Ada could be doing to help you as an entrepreneur in Ada? What would you want to see here?
D: Thanks to Dr. Bolin, I've connected to a lot of individuals in the community that's given me great feedback. And that's one the things that I've received. Something more would probably be real life experience. Studying textbooks is very different from real life experience. So maybe conferences and workshops for aspiring entrepreneurs like us. And also, I think it's very important to start early, so not just seniors and juniors, but even sophomores and freshmen. So they all need to get the idea that they are capable. Because we mostly don't take them seriously, to be very honest, but we should because that's where they're going and we need to work with them.
 
 
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Oklahoma Affordable Housing Needs
Oklahoma's affordable housing needs are going unmet. Learn more about the housing needs in Pontotoc County and counties across the state over the next five years by visiting: oklahomahousingneeds.org
   

 
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