Economic Development InsightsThe Ady Advantage: Strategy Matters

 

AS I SEE IT | The Economic Development Ecosystem, and a Focus on the Role of Regional EDOs

This is my second of five columns on the topic of the ED ecosystem. My first column focused on local EDOs and subsequent columns will focus on the role of state EDOs and utility ED. Regionalism is here to stay. Why? Because regional EDOs add value to the economic development ecosystem. Regional EDOs provide a […]

Read more ...

Advice for Policy Makers: Productivity Versus “Job” Creation

Economic development incentive policies have often centered on job retention and creation. Historically, this was in line with productivity (you need people to do the jobs to be productive) and politics (people vote, so if you protect or create jobs, then they will vote for you). Today, things are not as aligned. With the growth […]

Read more ...

AS I SEE IT | The Economic Development Ecosystem, and a Focus on the Role of Local EDOs

In our work with hundreds of EDOs across North America, we have found more than a couple of truisms. One that I’d like to expand on here is that every part of the economic development ecosystem has a role, and every ecosystem is most effective when each member is strong. I’m defining the members of […]

Read more ...

Workforce Readiness Certifications as a Talent Development Tool

There has been a lot of effort recently to certify communities and workers as workforce ready. I applaud any effort that helps to improve the talent picture within a community. However, I believe that there is a deeper play for these certifications. Workforce readiness gives an indication of an individual’s readiness to perform at a […]

Read more ...

Building Defense Economies Resilient to the Defense Industry

The defense industry is notorious for its boom and bust cycles. Almost anything can affect it, including public policy, global affairs, technology, and funding. For some local economies that are heavy into the industry, this can, at times, cause economic uncertainty. Employment goes up and down, talent disperses, and the robustness of the local economy […]

Read more ...

AS I SEE IT | Building Talent Attraction Strategies that Work

  As most economic developers will tell you these days, businesses go to where the talent is located. So, many regions understand that business attraction often means talent attraction. Here are a few thoughts on building talent attraction strategies that work. Realistically identify your assets.  Similar to site selection, there are assets that communities can […]

Read more ...

AS I SEE IT | The Value of a Strong Economic Development Ecosystem

There’s an old saying that goes like this: Economic development is a team sport. Like many old sayings, there is a lot of truth to this one. We work with hundreds of economic development professionals each year, including a good mix from state, regional, and local economic development organizations (EDOs). As a result, we understand […]

Read more ...

AS I SEE IT | My Wish List for 2017

  I’m optimistic about 2017. I think that project volume will continue, and I’m excited about the strategies that economic developers are devising to address issues ranging from talent to housing and brownfield redevelopment. And while our industry is as advanced as it has ever been, there is still room to separate the best from […]

Read more ...

AS I SEE IT | The Biggest Disconnect Between ED Professionals and Site Selectors on Website Content

Ady Advantage has developed, audited, and advised on hundreds of economic development (ED) websites. The key theme is that no matter how much technology platforms evolve, content will continue to be king and strategy will continue to be what differentiates your region from others. Here’s an example from a recent Ady Advantage study that helps […]

Read more ...

AS I SEE IT | A Recruitment Website Does Not a Talent Strategy Make

One of the challenges facing most rural communities today is talent. This may be evidenced by a small labor pool, an aging labor pool, and/or one that is flat to declining. The first point that I would like to make is that these challenges are not unique to your community, region, or even state. Many places […]

Read more ...