August 8, 2020

Old Lyme EDC Hosts SWOT Workshop: All Town Residents, Business Owners, Employees Welcome to Participate

OLD LYME — If you live, work or own a business in Old Lyme, then you’re invited to a SWOT Analysis Workshop tomorrow (Saturday, Sept. 21) morning at the Town Hall from 9 a.m. to 12 p.m.

SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats and represents a technique frequently used in strategic business planning.  The Old Lyme Economic Development Commission (EDC) working with the Connecticut Economic Resource Center (CERC) are using the technique with input from a variety of stakeholders to assist in determining the overarching goals, which will help guide the future economic development of Old Lyme.
 Working collaboratively, the two organizations are seeking to prioritize of efforts in three areas primarily, as follows
  1. Retaining existing businesses
  2. Attracting new investments (especially in available commercial properties that are presently abandoned and/or neglected)
  3. Promoting entrepreneurship — since local business owners, who live in Old Lyme, have a vested interest in the community.

The EDC is working closely with the Halls Road Improvement Committee (HRIC) to ensure the two groups work in tandem.  BJ Bernblum, HRIC Chairman, told LymeLine, ” “The Old Lyme Board of Selectmen is taking seriously the economic health of the town.  A few years ago it formed the Halls Road Improvements Committee and this year it revitalized the Economic Development Commission.” He continued, “The EDC is working with the Connecticut Economic Resource Center to analyze the current state of Old Lyme’s economy and to recommend ways to ensure a sound future.”

Bernblum also encouraged all Old Lyme residents and business owners or operators to complete the EDC survey at this link: www.research.net/r/OldLymeCT.  The deadline for completing the survey is Friday, Sept. 27.

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