Economic Development Strategy

The City of Lake Wales Economic Development Strategy is designed to attract businesses, create jobs and improve living standards. A set of targeted action steps are in place to enhance economic diversification through a growing range of business sectors and markets.

Land Use Statistics

Existing land use prioritizes Agricultural (36.76%);

Future Land Use prioritizes Low Density Residential (47.12%); and

Zoning prioritizes single family residential (28.42%).

To enrich efforts to meet the economic goals of the city, additional commercial and industrial opportunities are key target areas.

Attracting infill growth and cultivating partnerships with the private sector would serve as catalysts for the city, drawing new businesses to the area and connecting local talent to fill the growing labor demands in Polk County and the City of Lake Wales.

Economic Development Strategies

The strategies provide a framework for the development of initiatives, programs and projects that may be utilized to bring together future resources, assets, and partner organizations to overcome challenges. The goals are designed to guide future public investment and policy decisions.

Encourage Innovation in Land Planning and Site Development.

Formulate Economic Development Strategies that Take Advantage of Existing and Proposed Government Projects and Programs.

Enhance Economic Development by Supporting Existing Businesses and Attracting New Investment.

Leverage the Value of Area Natural Resources and Enhance Pedestrian Access.

Implement Resiliency Strategies to Reduce the Impacts of Climate and Disaster Related Impacts on The Built Environment.

Economic Development Guiding Document

City staff engaged the Central Florida Regional Planning Council (CFRPC) to prepare an action-oriented economic development strategy.

This plan resulted from extensive collaboration between the City of Lake Wales and various stakeholders, including local, state, and federal partners and non-profit organizations. These partners assisted in identifying community challenges and assets and provided recommendations to guide future public investment and policy decisions.

City staff and their partners are committed to coordinating and collaborating to promote the city of Lake Wales as a destination for business.

Business Incentive Program

The intent of this incentive program is to provide A 50% matching reimbursable grant to promote the expansion of existing businesses and industry, attraction of new high-skill, high- wage business and industry, and expansion of job opportunities.