The Chatham Economic Development Advisory Committee (EDAC) is an advisory committee to the Mayor and Chatham Borough Council created by Borough Resolution 19-317, passed by the Council on November 11, 2019.
The EDAC is responsible for attracting, creating, retaining and fostering economic development and investment strategies for Chatham Borough consistent with the character of the community, promoting the Borough as an attractive destination for technology and innovation economy businesses, and other establishments that will capitalize on our talented workforce and consumer base, and enhance diversity and sustainability through the development and implementation of a comprehensive Economic Development Plan.
The Chatham Economic Development Advisory Committee envisions the Borough of Chatham as a thriving community that blends historic suburban charm with sustainable technological economic innovation opportunities that efficiently dedicate Borough and community resources to increase economic vitality for the benefit of the entire Chatham community: residents, schools, visitors, and the business community.
- Develop a database of existing businesses sorted by types of service provided.
- Assess Borough needs through an inventory and examination of the existing businesses, retail, co-working opportunities, and other types of space availability.
- Conduct the needs assessment using the perspectives of retail, governmental and consumer services.
- Interview existing entrepreneurs and startups to determine the types of businesses with whom they seek connections.
- Develop programs to:
- Support existing businesses to maximize their economic potential.
- Enhance long-term economic stability and employment opportunities through business attraction and industry diversification.
- Aggressively attract new businesses, and high-quality jobs targeting technology-related businesses.
- Organize strategies to maximize the resources of both public and private sectors to promote business, investment, and economic growth.
- Partner with a network of regional economic development and real estate development leaders to identify potential new businesses, provide site-selection assistance, and promote development.
- Conduct meetings with existing Chatham businesses to address challenges and introduce business assistance programs and resources.
- Support the development of networks among members of the business community.
- Assist the Planning Board in facilitating streamlined and efficient permit approval processes materials to assist businesses interested in relocating to Chatham Borough.
- Analyze existing infrastructure (roads, walkways, open space, recreational facilities, water supply, sewage, power resources, wiring capacity and available bandwidth) to determine capacity for growth requirements.
- Examine new modes of transit, ie, Bike Share, Shuttle Buses
- Conduct an annual Mayor’s Roundtable event with business owners from within the Borough and affiliated areas.
- Plan and facilitate quarterly listening sessions with downtown business owners.
- Develop a marketing strategy and branding materials to facilitate the publicity needs of our Economic Development Plan.
- Create an informative and interactive website portal within the County EDA to facilitate communication with existing and new businesses.
- Share information about existing Chatham Borough resources and opportunities.
- Develop connections with other regional, national, and international innovation hubs.
- Develop connections with business and economics departments within local and regional educational institutions to create internship opportunities for their students.
- Plan an annual real estate brokers’ event to build awareness and showcase real estate opportunities in the Borough to real estate professionals in Northern / Central NJ and NYC.
- Prepare an annual report to Borough Council.