Industrial development considers opportunities for fully utilizing industrial buildings and Hagerstown’s industrial park. It also considers alternative forms of industry, such as cottage industries and local value-added industries. The major goals of industrial development in Hagerstown include attracting technology-based small business, encouraging farm-based business and agricultural industries, creating a market for local value-added industries, and maintaining environmental sustainability.
Goals and Action Plans
- Provide adequate infrastructure services to support technology-based business
- Technology-based business would help to diversify the Hagerstown economy and encourage a large number of smaller businesses. In order to encourage technology-based business to locate in Hagerstown, or to encourage technology-based entrepreneurship, appropriate infrastructure must be provided. This infrastructure includes the availability of high bandwidth fiber internet services.
- Focus recruitment efforts on agricultural value-added industries
- Adding value to local agricultural products through processing, packaging, or transportation can benefit Hagerstown’s industrial climate. Creating a local value-added agricultural program in Hagerstown could be possible through the Indiana Value-Added Grant Program, which is designed to increase the value of Indiana-produced agricultural commodities. Grants are available for agricultural value-added activities, including research and development of new programs or processes.
- Recruit industries and small businesses that add value to locally-produced goods and services
- The purpose of local value-added industry is to increase the multiplier effect, or the number of times a dollar circulates through the community. Hagerstown can recruit businesses or encourage entrepreneurs who would add value to the goods and services currently being produced in Hagerstown.