Why are we conducting this study?
The goal of the study is to create and communicate a vision for Troy that drives economic growth, increased investment and talent attraction/retention to help us meet head-on the challenges we face both now and in the future.
A global economy, shifting demographics and the need for workforce development - these are just some of the issues facing Troy. The demand to stay competitive, not just with regional and neighboring cities, but with cities from around the globe, is greater than at any other time in our history.
As more of our residents retire, more of our younger citizens are migrating to other communities that offer amenities and quality of life opportunities they don’t think they can find in Troy. The result is a shrinking population that could threaten our income base, reduce funding for city services and schools, negatively affect housing values and place burden upon all residents.
In our region, more than 12,000 jobs, many of them high-paying, go unfilled each year, thus threatening Troy’s economic competitiveness and our ability to meet the needs of our largest employers. Without a sustainable commercial and industrial economy, we cannot assure the unique quality of life that residents have come to enjoy in Troy.