Activities of the Economic Development Commission are directed at shaping the local economy and benefiting the community in many ways such as to:
- Promote job creation and retention
- Create a business-friendly climate to attract new business and diversify the local economy
- Contribute to an enhanced tax base
- Consider tax assessment deferral to encourage new or expansion of existing business
- Nurture, retain, and expand existing business
- Promote preservation of farmland and open spaces in accordance with the town
- Plan of Conservation
- Promote and develop tourism and the consumption of local goods and services
- Enhance the Village Center
- Support beautification projects
- Advocate and support town infrastructure improvements (water, sewer, natural gas, power, and telecommunications)
- Implement the town's economic plan as per the Plan of Conservation and Development
The Economic Development Commission seeks to educate the public and gain community endorsement and consensus for its activities, as the townspeople are the principle stakeholders. EDC strives to coordinate activities in alignment with the goals and priorities delineated in town and business surveys and to work collaboratively with other town boards, councils, and commissions.
Other functions include activities to:
- Provide prospective businesses with town information
- Develop methods to inventory and publicize available business sites
- Inventory, prioritize, assess, and when possible remediate environmental contamination in order to facilitate adaptive reuse and redevelopment in the Village Center. EDC is currently implementing the Brownfields grant awarded by the EPA called the East Hampton Village Center Revitalization Initiative.
In order to leverage its impact, EDC actively seeks affiliation with state and regional organizations. External partnerships are cultivated that will assist with community training and education, funding, and technical and organizational assistance. Limited town resources are a major impediment to initiatives, therefore, EDC diligently seeks to identify state and federal economic development funding, subsidy, and grant opportunities.