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Conceptual Areas of Town Planning that Align With Economic Development

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Town planning is a means by which local governments with input from stakeholders, such as citizens, landowners, and business owners, direct the development of cities and towns. Since town planning uses taxpayers' money, practicality and cost-efficiency are a top priority. Notably, effective town planning affects various elements, explaining why it is categorized into specific conceptual areas. Although conceptual zones are not mutually exclusive, business owners should understand how they affect economic development and investment outlook. This article highlights town planning aspects that align with business development strategies.

Strategic Town Planning

It is the highest level of town planning; hence, business owners and investors must treat it with the seriousness it deserves. During strategic town planning meetings, the local government, business owners, and investors discuss potential areas for growth. The planning process results in a development plan and includes strategies to encourage people to visit or move to the city. The strategies are critical since they encourage economic development by opening a town for business growth through increased investment opportunities. For instance, including clustering initiatives -- such as small business incubators -- in strategic town plans can provide easy and low-cost access to new markets.

Urban Revitalization

Notably, urban revitalization is a component of town planning that facilitates business owners and investors. In urban revitalization, local governments direct resources towards improving township areas facing imminent decline. For instance, a town experiencing a growing number of failing businesses or population decline is ideal for urban revitalization. If the local government fails to act, firms continue to fail, and investors shun the city. Notably, town revitalization plans depend on the causes of decline. For example, poor drainage, bad roads, pollution, and rising crime rates contribute to city decline. Therefore, mitigation strategies that address such challenges encourage businesses owners to stay and attract more investors.

Land-Use Planning 

In land-use planning, town planners rely on legislation and policy to influence land use. The regulations and policies are crucial because they maintain order regarding how businesses, organizations, and private citizens use land within a metropolitan area. For instance, regulations in land-use planning can set aside lots for specific purposes, such as building residential buildings, commercial facilities, and industrial plants. If private developers were to build condominiums in a commercial space, there would be a shortage of land for establishing businesses; hence, driving investors away. Most importantly, land-use planning plays a critical role in sustaining business operations in a township area.