Bill Sears
Commercial Real Estate Services | Economic Development Initiatives
Knobstone Development Group is a strategic land development consultant focused on cultivating strong public-private partnerships throughout the region. Our team focuses on establishing and growing community focused developments to achieve attainable home solutions. As no two communities are the same, every community demands a unique creative solution to deliver quality land developments rooted in strong partnerships.
Why Planning, Infrastructure, and Economic Development in Rural Communities Matter
Much of the headlines when it comes to property development revolve around major projects in urban areas-cities with higher growth rates and ample opportunities for profitable construction. However, there’s an area of the country that needs just as much attention-rural communities. Now more than ever, people are able to work from anywhere. These local-independent workers are choosing rural communities that have quality infrastructure, parks, facilities, and neighborhoods.
Three Reasons Rural Development is SO Important to Rural America
It Supports Employment
A lack of quality housing in rural communities has an effect on hiring prospects. In fact, a study from the National Association of Homebuilders (NAHB) found that the development of new homes in rural areas isn’t keeping up with the demand for employees-with housing development down 14 percent in the last six years but job openings on the rise. A bigger investment in housing development in our rural communities could work wonders in attracting more (and better) job candidates to the area.
It Improves Quality of Life
With that same NAHB study finding that the average new price is now around $200,000, the variety of affordable options can also have a great impact on quality of life. The National Rural Housing Coalition has found that cuts in development funding in rural areas can be correlated directly to a poverty rate in these areas triple that of urban centers. This is how an improved investment in rural housing can be a powerful tool for improving quality of life.
It Grows the Economy
In many ways, residential development can keep a local economy from stagnating. There are not only immediate and temporary effects, such as equipment and building material revenues that are pumped back into the community but lasting effects, such as additional property tax revenue that can go toward improvements like transportation and education. With all these things in mind, housing development is truly economic development.