Creating a Stronger Community

Yesterday, we talked about the latest statistical trends in Troy. What can our community do to help better these trends?

Yesterday, this publication went in depth on the demographic and economic trends observed in Troy from 2013 to 2023. With those trends, there are several recommendations can be made to address challenges and capitalize on opportunities. These suggestions aim to foster a more balanced, prosperous, and inclusive community.

Affordable Housing Initiatives

With rising housing costs and income inequality, Troy should probably spend some focus on developing affordable housing options. The city could implement inclusionary zoning policies, requiring new developments to include a percentage of affordable units. Additionally, partnering with non-profit organizations to develop affordable housing projects could help meet the growing demand. There is also a potential to offer some type of tax incentives for developers who build affordable housing units could also stimulate supply.

Housing issues are no stranger to the community. Local governments on both the municipal and county level have invested a great deal of time, effort and energy into dealing with these issues and there are plenty of people working on different intiatives.

Economic Diversification and Workforce Development

While the economic health of the community is very good, there are some metrics that show that there are some issues on the horizon that are certainly worth addressing. To address some of the issues around income inequality and poverty, the community should work to attract a diverse range of industries. Fortunately, the city has a strong history of brining industry in to the community.

This could involve creating a targeted economic development plan that identifies emerging sectors suitable for the city's workforce and infrastructure. Offering tax incentives or grants to businesses in these sectors could encourage their relocation or expansion in Troy.

There are also opportunities to maintain economic growth and provide opportunities for lower-income residents. The city should consider implementing programs to support small business development and entrepreneurship. This could include creating a small business resource center, offering microloans or grants for startups, and streamlining the process for obtaining business licenses and permits.By implementing these recommendations, Troy can work towards a more balanced and prosperous future for all its residents.

The city could partner with educational institutions and businesses to provide workforce development programs. This could involve creating vocational training programs aligned with local industry needs, offering coding bootcamps or other tech-focused training, and developing apprenticeship programs with local businesses. Additionally, the city could work with the local community college to develop certificate programs that provide quick pathways to in-demand jobs.

Youth and Senior Services

Given the growing populations at both ends of the age spectrum, Troy should invest in services and infrastructure that cater to both youth and seniors. The concern is that these populations often pinch other demographics that create tax revenue for local governments. The lion’s share of the revenue collected by our local government comes from income taxes and the community’s youngest residents and oldest residents traditionally don’t pay income taxes.

For youth, this could mean creating more recreational facilities, and partnering with local businesses to provide internship opportunities. For seniors, the city could focus on developing age-friendly infrastructure, expanding senior centers, and implementing programs that promote active aging and community engagement.

It should also be noted that with a relatively high fertility rate, the community should consider expanding family support services. This could involve partnering with local organizations to increase the availability of affordable childcare options, creating family resource centers that provide parenting classes and support groups. Many of these services are provided more by county and state-level governmetn agencies, so there are unique opporunities to bring opporunties for government cooperation.

Community Engagement Initiatives

To address the growing income disparity, the city should consider implementing community engagement initiatives that bring together residents from different economic backgrounds. This could include creating mixed-income community gardens, or developing mentorship programs that pair successful professionals with youth from lower-income families. Such initiatives can foster a more cohesive community and provide networking opportunities for those seeking to improve their economic situation. While this may not be the bailiwick of local government, new opportunities for community engagement with many local non-profit organizations within the community.

What Do You Think?

How do you think these recommendations willl work? Do you think our community is working on these issues? Our paid subscribers are more than welcome to leave their ideas and insights in the comment thread!

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