5 Reasons Housing is an Essential Part of Economic Development in Phelps County

12 Mar 2024

Economic development is often associated with business expansion and job growth. However, there is so much more to it. The team at the Phelps County Development Corporation (PCDC) works tirelessly to make Phelps County a great place to live – not just work. This means supporting entrepreneurs and business owners who want to bring dining, recreation, and housing to the area.

Housing is an essential part of any economy. In 2024 and beyond, our team is focused on increasing the housing opportunities in Phelps County so more people can call this wonderful region home. Here are five reasons why.

1. Housing Opportunities Keep Money in the Local Economy

Our goal at PCDC is to make Phelps County a place where people want to work and live. When there is enough housing in the region, people can live close to their employers and become active community members. The money they earn during the workday will get invested in the local economy on the weekends. Housing growth sends ripple effects through the economy as workers support local restaurants, store owners, and other businesses in their free time.

Housing also improves the overall quality of life for residents. More than 2,200 employees commute to Holdrege for work. If those workers lived nearby, they could enjoy shorter commute times and spend more time with their families.

2. Housing Attracts Location-Fluid Workers

From 2020 to 2022, two million Americans left the largest cities in the country. These people are tired of the high cost of living in urban areas and want to take advantage of rising remote work trends. Phelps County has noticed an uptick in residents who are location-fluid, meaning they can work from anywhere in the country and choose to move here.

Our goal at PDCD is to continue growing the single-family homes and multi-family housing units in the area. Remote workers take their salaries earned from companies in big cities and invest them in the Phelps economy. This increases the inflow of cash to the area.

In 2023, AARP named Holdrege the second-most livable city in Nebraska. We know our high quality of life will bring people to the region.

3. Housing Projects Fight Regional Shortages

Across the country, there aren’t enough homes to keep up with demand. America needs around 3.2 million homes to keep up with people who need housing and want to purchase properties. This is an opportunity for Phelps County.

Our team is committed to growing the housing availability in the region to attract homebuyers and residents who want affordable options. Housing can bring people to Phelps County and create a strong workforce, which in turn attracts employers.

In 2023, PCDC recruited 36 new residents. Its housing programs will create more than 50 new units in the next three years.

4. Housing Supports the Community

Residents who become homeowners will pay property taxes to Phelps County. These taxes play a key role in funding community resources like schools and parks. This creates a cyclical effect that benefits the area:

Increasing the number of homes allows more people to fund community projects.
The more community projects there are, the more inviting Phelps County becomes.
As the quality of life in the area improves, demand for housing increases are more people move here.

New construction in Phelps County supports our schools and families. However, it also increases the infrastructure that will support residents for decades to come.

5. Housing Developments Prepare Phelps for Growth

Phelps County is home to nearly 9,000 people and is looking to grow. Investment in housing prepares the region to welcome new businesses who see the value in our communities. Companies will be able to launch their operations faster because Phelps will already have a strong workforce living in the area.

Learn more about our relocation assistance programs if you are considering moving to Phelps County.

Choose Phelps County Because It Meets Your Housing Needs

Housing is a top priority for PCDC because it plays an essential role in economic development. Housing attracts large employers and improves the quality of life of residents. This, in turn, supports small businesses and the local economy. The entire county benefits from a mixture of single-family units and multi-family developments. Every person who moves here can feel at home.

Phelps County Development Corporation has the tools, information, and skills to assist you with relocation for your business or family. PCDC is ready to help with housing and project advocacy, including permitting, timely utilities, and financial assistance. Contact PCDC at (308) 995-4148 or pcdc@phelpscountyne.com today. To further explore “Why Phelps,” download the community guide.