Charles Town, like other communities, has been hampered by a downturn in our economy, with a lowering of home values, increased unemployment, and business foreclosures. However, unlike the nation as a whole, our local banks are strong. Our economic recovery is dependent on addressing three issues.
- Excess dependency. Approximately one-third of our City’s revenues come from Charles Town Races and Slots, which also employs a high percentage of people in the area. To strengthen our local economy, we must complement this base with expanded education, health care and technology opportunities through collaboration with American Public University, West Virginia University Hospital-East, and other businesses that provide professional career opportunities.
- An underdeveloped downtown. Charles Town is a virtual monument to our nation’s values. Our downtown architecture is among the finest in the area. The depth and breath of our history is without comparison. To create a more sustainable economy, our City must become more proactive in advancing tourism, bringing in new restaurants and shops, developing vacant properties, and enhancing our streetscape and neighborhoods.
- Lack of collaboration. Some question the need for collaboration with Ranson and Jefferson County. Decisions about growth and development are not made in the context of a comprehensive strategic plan. To be successful over the long-term, the City must find common ground with Ranson and the County on the tough issues of annexation, use of impact fees, urban growth, and ensuring for efficient provision of city services. It also must advance public/private partnerships, with citizen participation, in support of a common vision and comprehensive plan for our future.
What we do over the next few years will affect our community for many years to come. To ensure for a vibrant and sustainable local economy, we must chart a new course of action that is more responsive to the unique economic conditions of our time.
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