Oxford-Lafayette County has seen growth in economy
Published 3:01 pm Tuesday, September 1, 2020
Oxford-Lafayette County can credit its growth to the work put in by the Economic Development Foundation and the Chamber of Commerce.
The Oxford-Lafayette County Economic Development Foundation and Chamber of Commerce have developed a diverse and thoughtful strategic economic development plan that uses their very different tactics that contribute to the growth of Lafayette County.
Their method combines both the short term and long term goals the Chamber of Commerce and the Economic Development Foundation to expand Lafayette County and Oxford’s economic development.
Lafayette County’s economy is diverse in that the reason for its growth can be contributed to many different factors such as tourism, the University of Mississippi, and the community.
Oxford-Lafayette County has a growing, creative mindset that helps to create a strong economy and it is has been that way for a while as the economy is very much based on the people. Small business jobs have even contributed to this as Oxford is constantly seeing new businesses popping up.
The COVID-19 pandemic hurt Oxford-Lafayette’s economy, but not nearly as much as it did others.
“Oxford is better poised than many others to come out of this much leaner and stronger because we went into the crisis economically strong,” said Jon Maynard, who is the president of the Chamber of Commerce and the Economic Development Foundation. “Sales tax revenue for the city is down from previous years. Several businesses have closed permanently from this crisis. Many others are having record years. Unfortunately, we are not out of the crisis, and we don’t know what is next or how long this will last.”
The good news, according to Maynard, is that Oxford is strong and the community is innovative and can adapt.
“We can persevere as long as we continue to adapt to the constantly changing economic landscape,” he said.
The Oxford-Lafayette County Chamber of Commerce is the community voice of businesses in local, county and state issues. While the Economic Development Foundation is a public-private partnership that works to create opportunities for responsible economic investment, raising the per capita income for all citizens of Lafayette County.