Work Plan 2025
Business Retention & Expansion Program
Business Retention and Expansion (BRE) is a fundamental function of economic development organizations. It is far more cost effective to provide technical and other assistance to a business already operating to enable them to stay or expand their operations and employment in Galveston. The program will consist of site visits, follow-up surveys, issue analysis, and technical assistance. The program will focus on primary and larger employers initially.
Economic Development Planning
The City of Galveston is undertaking an update to the 2011 Comprehensive Plan. Rather than developing a stand-alone Economic Development Plan in partnership with the City of Galveston (as was completed in 2018) the GEDP will actively participate in the development of the economic development element of the 2025-2026 City of Galveston Comprehensive Plan.
Marketing & Attraction Campaign
The GEDP needs to educate investors and targeted industries about the economic opportunities available in Galveston. The GEDP’s brand needs to be updated and revised to re-position the organization, to assist in driving the appropriate customers to the GEDP website through an SEO campaign. The GEDP web presence needs to drive investment into the island’s economy, including Foreign Direct Investment. Specific focus needs to be paid to the maritime industry and UTMB Life Science’s incubator and other life science companies ancillary to UTMB. The GEDP will work with the island’s tourism industry to help attract full-service resort hospitality development opportunities to Galveston.
Research & Position Papers
Over the next year, the GEDP will research and create one to three position papers examining issues facing the Galveston economy and providing data driven issue analysis to the GEDP membership, public, and policy makers. Potential topics under consideration include the following: drainage & developing for stormwater management, best practices in economic development incentives, meeting peak season workforce demand, highlighting redevelopment opportunities, cost of living analysis, and Pelican Island development.
Investment Summit & Resilience Seminar
The GEDP primary events will be the Galveston Investment Summit and Resilience Seminar. The Investment Summit will be built on the previous Economic Development Summit by incorporating a business-to-business expo, enhanced breakout sessions, and creating a county-wide rather than solely island focus over a two-day summit. The goal is to drive capital investment to the island by educating attendees about investment opportunities in Galveston. The Resilience Seminar will have a regionwide orientation for coastal businesses looking to prepare for hurricane season and general disaster resilience with speakers from banking and insurance industries along with disaster recovery experts and utilities. Member Blenders and the Construction Consortium activities will continue to drive Business to Business opportunities for membership.
