FOCUS AREA | ECONOMIC DEVELOPMENT

Economic development around a lake can take various forms. Here are some typical types of economic development that often occur around lakes:

• Tourism and Recreation: Lakes are popular areas for boating, fishing, swimming, and camping.
• Hospitality Industry: The hospitality industry includes businesses such as hotels, resorts, bed and breakfasts, campgrounds, and vacation rentals. 
• Water Based Activities: Businesses offering water-based activities and services, such as boat rentals, marinas, fishing guide services, and water sports equipment rentals are often popular businesses around a lake.
• Waterfront Dining and Entertainment: Restaurants, bars, and entertainment venues located near the lakeshore offer scenic views and attract both locals and visitors. 
• Real Estate Development: Lakeside properties are in high demand for both residential and commercial development. Real estate development includes waterfront homes, multi-family dwellings, vacation rentals, and retail shops.
• Retail and Souvenir Shops: Retail business selling convenience items, apparel, outdoor gear, bait, and other fishing supplies, and locally made products appeal to visitors and provide opportunities for local businesses.
• Events and Festivals: Lakeside events and festivals that feature local culture, arts, music, and food are popular and draw visitors’ year-after-year.
• Storage Unit Businesses: Storage units provide a safe way for tourists and seasonal residents to store equipment and materials they only use at the lake. 

This is just a short list of some potential options for the area. Some of these may be a great fit for our needs, and others might not. Before considering any of these options, we need to determine what gaps we have in our current economy—if any—and which options would best fill those gaps. What types of businesses and growth appeal to your vision for Lake Poinsett? What types of businesses and growth are necessary for your enjoyment of life at the lake?